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Latest Headlines in Economy

Biden says he’s considering a gasoline tax holiday

The administration is increasingly looking for ways to spare Americans from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February.

Larry Edelman

The Fed will put the economy in a coma if that’s what’s needed to whip inflation

Central bank chairman Jerome Powell intends to break the back of inflation by any means necessary.

Larry Summers sees risk of US unemployment needing to climb toward 6 percent

The former treasury secretary renewed his criticism of Federal Reserve economic forecasts, saying that the US unemployment rate would need to increase by much more than policy makers anticipate to quell inflation.

Wall Street closes worst week since 2020 with slight gain

The S&P 500 rose 8.07 points, or 0.2 percent, after waffling between modest losses and gains for most of the day.

Larry Edelman

Stocks resume selloff as recessions fears mount

A day after the Federal Reserve boosted interests, investors came to grips with the growing possibility that the central bank’s anti-inflation campaign could tip the economy into a recession.

Wall Street stumbles 3.3 percent as fears of a recession grow

The renewed selling came a day after a brief reprieve for markets when the Federal Reserve delivered a huge interest rate increase in its effort to fight back inflation.

Larry Edelman | commentary

Federal Reserve escalates inflation fight with biggest rate hike since 1994

The central bank raised its benchmark rate by three-quarters of a percentage point and said increases would continue until inflation was under control.

Federal Reserve attacks inflation with its largest rate hike since 1994

The central bank is ramping up its drive to tighten credit and slow growth with inflation having reached a four-decade high of 8.6 percent.