Economy
Follow the latest Economy news, videos, and analysis from ABC News.
June 30, 2022, 1:22 PM

Key inflation gauge tracked by the Fed remains a high 6.3%

A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April
June 30, 2022, 1:22 PM
Key inflation gauge tracked by the Fed remains a high 6.3%
June 30, 2022, 12:49 PM

How to negotiate your rent amid price hikes

Rent prices are up more than 15% from a year ago, but ABC News economics correspondent Rebecca Jarvis has tips to negotiate a better deal.
June 30, 2022, 12:49 PM
How to negotiate your rent amid price hikes
June 30, 2022, 10:32 AM

Are record corporate profits driving inflation? Here's what experts think.

Economists disagree over whether record corporate profits have driven inflation.
June 30, 2022, 10:32 AM
Are record corporate profits driving inflation? Here's what experts think.
June 29, 2022, 2:46 AM

By the Numbers: Climate and food prices

A look at the grocery items, including corn, coffee and wheat, that are facing rising prices and shortages.
June 29, 2022, 2:46 AM
By the Numbers: Climate and food prices
June 28, 2022, 3:05 PM

US consumer confidence slumps to lowest level in 16 months

U.S. consumer confidence slipped to its lowest level in 16 months as persistent inflation and rising interest rates have Americans as pessimistic as they’ve been about the future in almost a decade
June 28, 2022, 3:05 PM
US consumers less confident as anxiety over future grows
June 28, 2022, 1:07 PM

Why you should pay down your credit cards right now

Rising interest rates mean your monthly payments may rise sharply this year as annual percentage rates go up, increasing the amount of time it takes to pay off balances.
June 28, 2022, 1:07 PM
Why you should pay down your credit cards right now
June 28, 2022, 12:47 AM

Gas prices fall in states across country

Gas prices fell in states across the country, as the national average falls below $5 a gallon for unleaded gas.
June 28, 2022, 12:47 AM
Gas prices fall in states across country
June 27, 2022, 8:45 PM

How recession could impact Americans’ mental health

Studies show that an economic downturn could disproportionately affect low-income people and minorities in the U.S.
June 27, 2022, 8:45 PM
How recession could impact Americans’ mental health
June 27, 2022, 8:16 PM

How to save at the pump

Lauren Iannotti talks with Amy Robach and TJ Holmes about what we can do to save money when fueling up.
June 27, 2022, 8:16 PM
How to save at the pump
June 27, 2022, 3:33 PM

Diesel prices could lead us into the next recession, experts say

The supply chain for many goods relies on diesel-fueled transportation.
June 27, 2022, 3:33 PM
The high prices that could lead to the next recession -- and it's not gasoline
June 26, 2022, 4:37 PM

Did corporate greed fuel inflation? It's not biggest culprit

Many consumers feel they know just where to cast blame: On greedy companies.
June 26, 2022, 4:37 PM
June 26, 2022, 2:42 PM

More Americans rely on credit cards as inflation rises

Moody’s Analytics calculates that American households are spending $341 more each month as a possible recession looms.
June 26, 2022, 2:42 PM
More Americans rely on credit cards as inflation rises
June 25, 2022, 9:31 AM

Inflation sparks global wave of protests for higher pay, aid

As food costs and fuel bills soar, inflation is plundering people’s wallets, sparking a wave of protests and workers’ strikes around the world
June 25, 2022, 9:31 AM
Inflation sparks global wave of protests for higher pay, aid
June 24, 2022, 1:55 PM

Retirees face threat from economy and market turmoil: Experts

The crunch of rising costs and falling stocks poses a challenge, but retirees can mitigate it, experts said.
June 24, 2022, 1:55 PM
The threat retirees may face from market turmoil
June 23, 2022, 7:25 PM

Unemployment claims fall despite rising inflation, recession fears

ABC News' Deirdre Bolton breaks down first-time unemployment claims falling slightly last week, despite worsening fears about recession, spiraling inflation and pain at the pump.
June 23, 2022, 7:25 PM
Unemployment claims fall despite rising inflation, recession fears
June 23, 2022, 6:13 PM

High-stakes meeting on gas prices

Energy Secretary Jennifer Granholm has suggested the president could invoke the Defense Production Act to boost gas supplies ahead of a Thursday meeting with oil executives in Washington.
June 23, 2022, 6:13 PM
High-stakes meeting on gas prices
June 23, 2022, 4:11 PM

2,000 fewer Americans applied for unemployment benefits last week: Report

ABC News business correspondent Deirdre Bolton on the latest jobs report as the U.S. labor market remains strong in the face of rising inflation and interest rates.
June 23, 2022, 4:11 PM
2,000 fewer Americans applied for unemployment benefits last week: Report
June 23, 2022, 3:05 PM

Average long-term US mortgage rates inch up to 5.81%

Average long-term U.S. mortgage rates inched up this week following last week’s mammoth jump, the biggest in 35 years
June 23, 2022, 3:05 PM
Average long-term US mortgage rates inch up to 5.81%
June 23, 2022, 12:22 PM

How to make high interest rates work for you

With inflation, your cash is losing buying power, but the interest rate hike means some financial institutions will offer better rates on savings accounts.
June 23, 2022, 12:22 PM
How to make high interest rates work for you
June 23, 2022, 11:39 AM

Biden calls for national gas holiday

With the national average reaching a near record, President Joe Biden is pushing Congress to suspend the federal gas tax, promising it will give drivers a much-needed break.
June 23, 2022, 11:39 AM
Biden calls for national gas holiday
June 22, 2022, 10:37 PM

Will the Fed, White House's economic moves slow down inflation?

ABC News’ Alex Presha and Alexis Christoforous break down what the White House and Federal Reserve are doing to bring prices under control as inflation remains a top concern.
June 22, 2022, 10:37 PM
Will the Fed, White House's economic moves slow down inflation?
June 22, 2022, 8:32 PM

High diesel prices contributing to rising cost of goods

The average gallon of diesel fuel is $5.81 in the U.S., which is 80% higher than a year ago, according to AAA research.
June 22, 2022, 8:32 PM
High diesel prices contributing to rising cost of goods
June 22, 2022, 8:20 PM

Biden calls on Congress, states to suspend gas taxes

Suspending the gas tax for three months -- through the end of September, as President Joe Biden will call for -- will cost about $10 billion, the White House said.
June 22, 2022, 8:20 PM
Biden calls on Congress, states to suspend gas taxes
June 22, 2022, 7:57 PM

Sen. Manchin says he won't support Biden’s push to suspend federal gas tax

The West Virginia senator spoke exclusively with ABC News congressional correspondent Rachel Scott.
June 22, 2022, 7:57 PM
Sen. Manchin says he won't support Biden’s push to suspend federal gas tax
June 22, 2022, 7:12 PM

Powell: Fed aims to avoid recession but says it's possible

Federal Reserve Chair Jerome Powell sought to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession
June 22, 2022, 7:12 PM
Powell: Fed will decide on rate hikes 'meeting by meeting'
June 22, 2022, 7:08 PM

Federal Reserve preparing to issue more interest rate hikes

ABC News Washington correspondent Alex Presha discusses how the White House is addressing concerns the U.S. could be heading toward a recession.
June 22, 2022, 7:08 PM
Federal Reserve preparing to issue more interest rate hikes
June 22, 2022, 7:07 PM

Arizona couple gains national attention for lower gas prices

The couple runs C K Food Mart in Phoenix, offering significantly cheaper gas than other local stations at $4.99 per gallon.
June 22, 2022, 7:07 PM
Arizona couple gains national attention for lower gas prices
June 22, 2022, 5:14 PM

Democrat Joe Manchin signals he won't support Biden's call for a gas tax holiday

The West Virginia senator spoke exclusively with ABC News Congressional Correspondent Rachel Scott.
June 22, 2022, 5:14 PM
Democrat Joe Manchin signals he won't support Biden's call for a gas tax holiday
June 22, 2022, 12:09 PM

Housing market slows down amid rising interest rates

Market uncertainty and rising mortgage rates could be making it easier for average home buyers to find good real estate deals.
June 22, 2022, 12:09 PM
Housing market slows down amid rising interest rates
June 22, 2022, 11:07 AM

What is a gas tax holiday?

The federal gas tax was first imposed as a 1-cent per gallon tax in 1932.
June 22, 2022, 11:07 AM
What is a gas tax holiday?
June 21, 2022, 9:59 PM

Biden, Chevron chief trade sharp words over gas prices

Gasoline prices are at near record levels.
June 21, 2022, 9:59 PM
June 21, 2022, 8:54 PM

Wall Street ends broadly higher after sharp losses last week

Stocks are ending higher on Wall Street Tuesday, clawing back some of the ground they lost last week in their worst weekly drop since the beginning of the pandemic
June 21, 2022, 8:54 PM
Stocks gain ground, clawing back a piece of last week's drop
June 21, 2022, 3:14 PM

Home sales give way as prices enter unprecedented territory

Sales of previously occupied U.S. homes slowed for the fourth consecutive month in May as climbing mortgage rates and prices discouraged many would-be buyers
June 21, 2022, 3:14 PM
Home sales slow again as mortgage rates climb
June 21, 2022, 2:27 AM

Biden could soon make decision on gas tax holiday

President Joe Biden said he could make a decision as soon as this week on a gas tax holiday, which would pause the federal gas tax of 18.4 cents per gallon.
June 21, 2022, 2:27 AM
Biden could soon make decision on gas tax holiday
June 21, 2022, 2:26 AM

Record-breaking gas prices across the country

ABC News’ Victor Oquendo reports on rising gas prices across the U.S. and how Americans are trying to cope.
June 21, 2022, 2:26 AM
Record-breaking gas prices across the country
June 20, 2022, 9:58 PM

Biden says decision on gas tax holiday may come this week

The administration is looking for ways to spare Americans from higher prices.
June 20, 2022, 9:58 PM
Biden says he's considering a gasoline tax holiday
June 20, 2022, 8:23 PM

Biden may soon back a gas tax holiday -- plus rebate cards -- to address pain at the pump

President Joe Biden said Monday he could make a decision as soon as this week on whether to support Congress instituting a pause on the federal gas tax of 18.4 cents
June 20, 2022, 8:23 PM
Is a gas tax holiday coming? Biden may decide to back one this week
June 20, 2022, 1:10 PM

Can higher interest rates be good for consumers?

For the first time in years, interest rates are rising on savings accounts.
June 20, 2022, 1:10 PM
The silver lining of the Fed’s interest rate hikes
June 20, 2022, 12:20 PM

Economists eye signs of recession in near future

As stocks plunge and costs continue to rise, ABC News' Rebecca Jarvis explains why experts say the U.S. economy may be headed toward a recession.
June 20, 2022, 12:20 PM
Economists eye signs of recession in near future
June 20, 2022, 10:51 AM

Recession isn't 'inevitable' but inflation remains 'unacceptably high': Janet Yellen

A coming recession is not "at all inevitable" as the Federal Reserve takes aggressive actions to address inflation, Treasury Secretary Janet Yellen said Sunday
June 20, 2022, 10:51 AM
Recession isn't 'inevitable' but inflation remains 'unacceptably high': Janet Yellen
June 20, 2022, 12:39 AM

Treasury secretary speaks out about struggling economy

Janet Yellen said inflation is unacceptably high.
June 20, 2022, 12:39 AM
Treasury secretary speaks out about struggling economy
June 20, 2022, 12:38 AM

Secretary Yellen believes recession is not 'inevitable'

Treasury Secretary Janet Yellen said Sunday that a recession was not "at all inevitable" despite some experts forecasting it could happen within the next 12 to 18 months.
June 20, 2022, 12:38 AM
Secretary Yellen believes recession is not 'inevitable'
June 19, 2022, 4:31 PM

The creative ways small businesses are keeping up with rising costs

Coping with the challenges of inflation, small businesses are offering bonuses and raises for their employees to combat the rising cost of living.
June 19, 2022, 4:31 PM
The creative ways small businesses are keeping up with rising costs
June 19, 2022, 4:08 PM

Inflation taking bite out of new infrastructure projects

Rising prices for asphalt, steel and iron pipes are driving up building costs.
June 19, 2022, 4:08 PM
Inflation taking bite out of new infrastructure projects
June 19, 2022, 3:31 PM

Recession isn't 'inevitable' despite 'unacceptably high' inflation: Janet Yellen

George Stephanopoulos interviews Treasury Secretary Janet Yellen on "This Week."
June 19, 2022, 3:31 PM
Recession isn't 'inevitable' despite 'unacceptably high' inflation: Janet Yellen
June 19, 2022, 1:00 AM

Millions feel financial squeeze of runaway inflation

Prices are now rising at the fastest rate in 40 years.
June 19, 2022, 1:00 AM
Millions feel financial squeeze of runaway inflation
June 18, 2022, 1:33 PM

National average for gas price drops to under $5 per gallon

The Biden administration is reportedly taking another look at sending gas rebate cards to millions of Americans.
June 18, 2022, 1:33 PM
National average for gas price drops to under $5 per gallon
June 18, 2022, 1:01 AM

Mortgage rates see biggest weekly jump since 1987

The average monthly payment for a mortgage has increased 40% since the end of last year. Federal Reserve Chairman Jerome Powell announced the biggest rate hike in decades earlier this week.
June 18, 2022, 1:01 AM
Mortgage rates see biggest weekly jump since 1987
June 18, 2022, 12:10 AM

Biden accuses oil companies of making inflation worse

ABC News’ Deidre Bolton and MaryAlice Parks fact-check the White House blaming spiraling inflation on oil producers and discuss what, if anything, the Biden administration can do.
June 18, 2022, 12:10 AM
Biden accuses oil companies of making inflation worse
June 18, 2022, 12:08 AM

High inflation fuels volatile stock markets

ABC News correspondent Deirdre Bolton discusses the latest on the U.S. economy as the Federal Reserve raised interest rates at the fastest pace in nearly three decades.
June 18, 2022, 12:08 AM
High inflation fuels volatile stock markets