Economy
Follow the latest Economy news, videos, and analysis from ABC News.
February 5, 2023, 8:16 PM

‘The full faith and credit of the United States is not negotiable’: Pete Buttigieg

ABC News’ Jonathan Karl interviews Transportation Secretary Pete Buttigieg on “This Week.”
February 5, 2023, 8:16 PM
‘The full faith and credit of the United States is not negotiable’: Pete Buttigieg
February 5, 2023, 7:56 PM

171 Republican lawmakers join effort to stop student loan forgiveness program

One hundred and twenty-eight House Republicans and nearly all Republican senators on Friday filed amicus briefs opposing Biden's federal student debt cancellation plan
February 5, 2023, 7:56 PM
171 Republican lawmakers join effort to stop Biden's student loan forgiveness program
February 5, 2023, 2:13 PM

Record numbers of people are worse off, a recipe for political discontent: POLL

There is record dissatisfaction with Biden and Trump ahead of the 2024 election, according to a new poll.
February 5, 2023, 2:13 PM
Record numbers of people are worse off, a recipe for political discontent: POLL
February 4, 2023, 5:12 PM

Why the job market is booming despite high-profile layoffs

Layoffs at the likes of Google and Goldman Sachs don't indicate much about the broader job market, labor economists said.
February 4, 2023, 5:12 PM
Why the job market is booming despite high-profile layoffs
February 4, 2023, 4:31 PM

US adds more than 500k jobs in January

Employers added more than half a million jobs in January, sending the unemployment rate to a level not seen in more than half a century.
February 4, 2023, 4:31 PM
US adds more than 500k jobs in January
February 3, 2023, 2:53 PM

Households plunged into vicious cycle of debt as interest rates soar

Many Americans have been battered by a one-two financial punch of elevated inflation, which has sent household expenses soaring; alongside aggressive interest rate hikes.
February 3, 2023, 2:53 PM
Households plunged into vicious cycle of debt as interest rates soar
February 3, 2023, 12:38 PM

Households plunged into vicious cycle of debt as interest rates soar

The economic situation could plunge some households into debt for years.
February 3, 2023, 12:38 PM
Households plunged into vicious cycle of debt as interest rates soar
February 2, 2023, 10:09 PM

Wall Street piles more onto big start to year as tech surges

Wall Street’s bang to start the year got even bigger, as tech stocks and a surge for Facebook’s parent company led the market higher
February 2, 2023, 10:09 PM
February 2, 2023, 3:13 PM

Fed raises interest rates for 1st time in 2023

The Fed raised its short-term interest rate by 0.25% on Wednesday in its latest effort to halt inflation.
February 2, 2023, 3:13 PM
Fed raises interest rates for 1st time in 2023
February 2, 2023, 2:53 PM

US filings for jobless aid lowest since April

Applications for jobless aid in the U.S. fell by 3,000 last week to 183,000.
February 2, 2023, 2:53 PM
February 2, 2023, 1:38 AM

Fed chair announces 0.25% hike

The Federal Reserve has raised interest rates to cut prices but the move risks a recession.
February 2, 2023, 1:38 AM
Fed chair announces 0.25% hike
February 1, 2023, 11:39 PM

McCarthy says debt limit conversation continues

The meeting comes amid a standoff over the debt limit between House Speaker Kevin McCarthy and President Joe Biden.
February 1, 2023, 11:39 PM
McCarthy says debt limit conversation continues
February 1, 2023, 11:16 PM

McCarthy meets with Biden as House speaker for the first time

ABC News’ Jay O’Brien breaks down House Speaker Kevin McCarthy’s remarks after attending a meeting with President Joe Biden at the White House.
February 1, 2023, 11:16 PM
McCarthy meets with Biden as House speaker for the first time
February 1, 2023, 5:53 PM

Tech layoffs 2023: Companies that have made cuts

Companies across the tech industry, including Vox Media, Amazon, Microsoft, and Google, have made major cuts in 2023.
February 1, 2023, 5:53 PM
Tech layoffs 2023: Companies that have made cuts
February 1, 2023, 5:16 PM

Federal reserve set to announce 1st interest rate decision of 2023

The decision comes as President Joe Biden plans to crack down on “junk fees” and late credit card fees.
February 1, 2023, 5:16 PM
Federal reserve set to announce 1st interest rate decision of 2023
January 31, 2023, 7:08 PM

Unprecedented profit for Exxon as travel, and war, heated up

Exxon Mobil posted record annual profits in 2022 as consumers globally struggled with high prices for gasoline, home heating and consumer goods
January 31, 2023, 7:08 PM
January 31, 2023, 5:31 PM

IMF: Global economy will be more resilient than many had feared

A new report from the International Monetary Fund predicts the U.S. could avoid a recession.
January 31, 2023, 5:31 PM
IMF: Global economy will be more resilient than many had feared
January 31, 2023, 3:10 PM

IMF upgrades global outlook amid easing inflation

A new prediction from the International Monetary Fund shows the global economy will be more resilient this year than many had feared.
January 31, 2023, 3:10 PM
IMF upgrades global outlook amid easing inflation
January 31, 2023, 2:53 PM

US wage growth slowed in the final quarter of 2022

Pay and benefits for America’s workers grew at a healthy but more gradual pace in the final three months of 2022, the third straight slowdown that could help reassure the Federal Reserve that wage gains won’t fuel higher inflation
January 31, 2023, 2:53 PM
January 30, 2023, 4:27 PM

Fed, set to impose smaller hike, may hint of fewer increases

The Federal Reserve is poised this week to raise its benchmark interest rate for an eighth time since March
January 30, 2023, 4:27 PM
January 29, 2023, 3:58 PM

Thousands of pharmacies cut store hours

Major retailers CVS and Walmart said they plan to reduce store hours in March at thousands of stores across the country.
January 29, 2023, 3:58 PM
Thousands of pharmacies cut store hours
January 28, 2023, 4:23 PM

Is tipping getting out of control? Many consumers say yes

There’s a silent frustration brewing over the ever-presence of tipping.
January 28, 2023, 4:23 PM
January 28, 2023, 4:13 PM

Gas prices on the rise again

The new year kicks off with the largest increase in gas prices since 2009.
January 28, 2023, 4:13 PM
Gas prices on the rise again
January 28, 2023, 4:54 AM

What to know about severance pay amid high-profile layoffs

Experts describe a typical severance package and how workers should negotiate.
January 28, 2023, 4:54 AM
What to know about severance pay amid high-profile layoffs
January 27, 2023, 5:08 PM

US inflation and consumer spending cooled in December

It's evidence that the Fed’s series of rate hikes are slowing the economy.
January 27, 2023, 5:08 PM
January 27, 2023, 2:23 AM

US economy grew at the end of 2022

The GDP grew 2.9% during the last three months of 2022, showing the economy is still growing despite high inflation and rising interest rates.
January 27, 2023, 2:23 AM
US economy grew at the end of 2022
January 27, 2023, 2:00 AM

US economy grew at end of 2022, defying recession fears

GDP data showed that the economy weathered interest rate hikes from the Federal Reserve.
January 27, 2023, 2:00 AM
US economy grew at end of 2022, defying recession fears
January 26, 2023, 11:38 PM

Toymaker Hasbro laying off 1,000 to cut costs

Toymaker Hasbro is cutting about 1,000 jobs as part of moves announced last year to save up to $300 million annually by 2025
January 26, 2023, 11:38 PM
Toymaker Hasbro laying off 1,000 to cut costs
January 26, 2023, 10:52 PM

US economy grew in final quarter of 2022 despite inflation and interest rate hikes

ABC News’ Karen Travers breaks down the latest GDP report, which shows the economy grew at 2.9 percent in the fourth quarter of 2022.
January 26, 2023, 10:52 PM
US economy grew in final quarter of 2022 despite inflation and interest rate hikes
January 26, 2023, 7:03 PM

US GDP grew 2.9% in 4th quarter: Commerce Department

ABC News business reporter Alexis Christoforous joins ABC News Live to break down the latest numbers and what they mean for the economy.
January 26, 2023, 7:03 PM
US GDP grew 2.9% in 4th quarter: Commerce Department
January 26, 2023, 3:58 PM

GDP data expected to show economic health amid fears of recession

ABC News’ Rebecca Jarvis on what the latest GDP report could signal about the U.S. economy.
January 26, 2023, 3:58 PM
GDP data expected to show economic health amid fears of recession
January 26, 2023, 2:23 PM

Fewer Americans file for jobless claims last week

Applications for jobless aid in the U.S. fell by 6,000 last week.
January 26, 2023, 2:23 PM
January 26, 2023, 4:53 AM

BY THE NUMBERS: Stamp price increase

A look at the numbers behind the U.S. Postal Service raising the price of postage stamps, and the additional price increases to come.
January 26, 2023, 4:53 AM
BY THE NUMBERS: Stamp price increase
January 26, 2023, 4:38 AM

UN forecasts fall in global economic growth to 1.9% in 2023

The United Nations is forecasting that global economic growth will fall significantly to 1.9% this year
January 26, 2023, 4:38 AM
UN forecasts fall in global economic growth to 1.9% in 2023
January 25, 2023, 11:18 PM

What you need to know about the debt ceiling

U.S. Deputy Treasury Secretary Wally Adeyemo talks about the start of tax season and breaks down the potential debt-ceiling crisis.
January 25, 2023, 11:18 PM
What you need to know about the debt ceiling
January 25, 2023, 6:06 PM

One mom's 'credit card fast' led to her buying a home

The new financial savings trend finds people deliberately not using a credit card for a period of time in order to save.
January 25, 2023, 6:06 PM
One mom's 'credit card fast' led to her buying a home
January 25, 2023, 5:46 PM

3M and Gemini announce major staff cuts

ABC News business reporter Alexis Christoforous has tips for workers who were laid off.
January 25, 2023, 5:46 PM
3M and Gemini announce major staff cuts
January 25, 2023, 2:00 AM

Soaring egg prices prompt demands for price-gouging probe

With egg prices more than doubling in the past year, calls are coming for an investigation into possible price gouging
January 25, 2023, 2:00 AM
January 25, 2023, 12:16 AM

Money-saving tips to help you prepare for a recession

Author and business coach Rachel Rodgers shares some survival tips you can follow to navigate a recession.
January 25, 2023, 12:16 AM
Money-saving tips to help you prepare for a recession
January 24, 2023, 5:03 PM

Federal Reserve and the markets in standoff on rate hikes

Sooner or later, either Wall Street or the Federal Reserve has to blink.
January 24, 2023, 5:03 PM
January 24, 2023, 2:27 PM

3M cutting about 2,500 manufacturing jobs globally

3M, maker of Post-it notes, industrial coatings and ceramics, is cutting about 2,500 manufacturing jobs worldwide as it looks to align itself with adjusted production volumes
January 24, 2023, 2:27 PM
January 23, 2023, 4:38 PM

Spotify latest tech name to cut jobs, axes 6% of workforce

CEO Daniel Ek announced the restructuring in a message to employees.
January 23, 2023, 4:38 PM
January 23, 2023, 7:50 AM

Survey: Firms expect job cuts in '23 amid recession fears

A survey of national economists says more businesses now expect job reductions at their firms and to spend less on expansions for the first time since the pandemic
January 23, 2023, 7:50 AM
Survey: Firms expect job cuts in '23 amid recession fears
January 21, 2023, 3:40 AM

Debt ceiling: What does the US spend the most on?

Here’s how much the U.S. spends on health care, military and education.
January 21, 2023, 3:40 AM
Debt ceiling: What does the US spend the most on?
January 20, 2023, 9:58 PM

CBP seeing rise in attempts to bring eggs across southwest border

Amid the rising cost of eggs, CBP says it's seeing an increase in people trying to bring eggs across the southwest border.
January 20, 2023, 9:58 PM
CBP seeing rise egg seizures at US border
January 20, 2023, 4:53 PM

2022 was slowest year for US home sales in nearly a decade

Last year was the slowest year for the housing market in nearly a decade.
January 20, 2023, 4:53 PM
January 20, 2023, 4:38 PM

Tech industry job cuts come rapidly and in big numbers

In just the past month there have been about 50,000 job cuts across the technology sector
January 20, 2023, 4:38 PM
Tech industry job cuts come rapidly and in big numbers
January 20, 2023, 1:58 AM

Stage set for debt ceiling battle

The U.S. officially reached its borrowing limit, setting off a battle between House Republicans and the White House.
January 20, 2023, 1:58 AM
Stage set for debt ceiling battle
January 20, 2023, 12:06 AM

What happens after US officially hits debt ceiling?

ABC News' Elizabeth Schulze and Alexis Christoforous break down the debt ceiling showdown and the history of how we got here.
January 20, 2023, 12:06 AM
What happens after US officially hits debt ceiling?
January 19, 2023, 9:28 PM

What you need to know about inflation

ABC News chief business, technology and economics correspondent Rebecca Jarvis discusses the latest inflation numbers and what to expect going forward.
January 19, 2023, 9:28 PM
What you need to know about inflation