Economy
Follow the latest Economy news, videos, and analysis from ABC News.
27 minutes ago

US home sales fell in August despite easing mortgage rates, more homes on the market

Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market kept rising
27 minutes ago
FILE - A housing development in Cranberry Township, Pa., is shown on March 29, 2024. (AP Photo/Gene J. Puskar)
2 hours ago

How federal interest rate cut could affect your wallet

ABC News' Elizabeth Schulze breaks down some of the impacts of the Federal Reserve's lower interest rates on everyday economic issues and inflation.
2 hours ago
VIDEO: How federal interest rate cut could affect your wallet
2 hours ago

Weekly applications for US jobless benefits fall to the lowest level in 4 months

The number of Americans applying for unemployment benefits fell to their lowest level in four months last week
2 hours ago
FILE - A hiring sign is displayed at a retail store in Buffalo Grove, Ill., Friday, Sept. 6, 2024. (AP Photo/Nam Y. Huh, File)
3 hours ago

Fed cuts interest rates a half point

The Federal Reserve slashed interest rates for the first time since 2020 with a half-point cut, its biggest rate cut in 16 years.
3 hours ago
VIDEO: Fed cuts interest rates a half point
4 hours ago

Federal Reserve cuts interest rates for 1st time since 2020

"The time has come for policy to adjust," Fed Chair Jerome Powell said last month.
4 hours ago
September 19, 2024 at 10:42 AM

Biden to celebrate progress of American economy in Thursday remarks

In remarks on Thursday at the Economic Club of Washington, D.C., President Biden will celebrate the progress of the American economy, but stop short of declaring victory.
September 19, 2024 at 10:42 AM
President Joe Biden speaks at a reception in celebration of Hispanic Heritage Month at the White House in Washington, D.C., on Sept. 18, 2024.
September 19, 2024 at 12:15 AM

Fed Reserve cut interest for 1st time in 4 years

The Federal Reserve cut its benchmark interest rate by half a percentage point, reversing its years-long fight against inflation and potentially offering relief for borrowers facing high costs.
September 19, 2024 at 12:15 AM
VIDEO: Fed Reserve cut interest for 1st time in 4 years
September 18, 2024 at 11:39 PM

The Federal Reserve cuts interest rates for first time in 4 years

Our panel reacts to the Fed cutting interest rates by half a percent, the second wave of explosions in Lebanon Wednesday and lawyers for Sean "Diddy" Combs speaking on his sex trafficking indictment.
September 18, 2024 at 11:39 PM
VIDEO: The Federal Reserve cuts interest rates for first time in four years
September 18, 2024 at 6:31 PM

Fed cuts interest rates a half point in landmark policy shift

The Federal Reserve cut its benchmark interest rate a half of a percentage point on Wednesday in a landmark decision that dials back its years-long fight against inflation.
September 18, 2024 at 6:31 PM
VIDEO: Fed cuts interest rates a half point in landmark policy shift
September 18, 2024 at 1:58 PM

UK inflation is steady at 2.2% ahead of Bank of England's next rate decision

The Bank of England is widely expected to keep interest rates unchanged after official figures showed Inflation in the U.K. holding steady at an annual rate of 2.2% in August, with higher airfares offset by lower fuel costs and restaurant and hotel bills
September 18, 2024 at 1:58 PM
FILE - The Bank of England is pictured in London, on Aug. 1, 2024. (AP Photo/Alberto Pezzali, File)
September 18, 2024 at 1:53 PM

Fed expected to cut interest rates for 1st time in 4 years

The Federal Reserve is expected to announce its first interest rate cut in four years. ABC News’ Rebecca Jarvis breaks down what this means for your wallet.
September 18, 2024 at 1:53 PM
VIDEO: Fed expected to cut interest rates for 1st time in 4 years
September 18, 2024 at 1:19 PM

Gas prices are plummeting. Experts explain why.

In 16 states, an average gallon of gas costs less than $3.
September 18, 2024 at 1:19 PM
A person fills gas in to their car in this undated stock photo.
September 18, 2024 at 12:26 AM

Gas prices dropping as summer ends

The price of gasoline has dropped about 13% since the 2024 peak in April, according to AAA.
September 18, 2024 at 12:26 AM
The price of gasoline has dropped about 13% since the 2024 peak in April, according to AAA.
September 17, 2024 at 6:14 PM

US retail sales ticked up last month in sign of ongoing consumer resilience

Americans spent a bit more at retailers last month, providing a small boost to the economy just as the Federal Reserve considers how much to cut its key interest rate
September 17, 2024 at 6:14 PM
Shoppers consider purchases in a Costco warehouse Thursday, Sept. 12, 2024, in Thornton, Colo. (AP Photo/David Zalubowski)
September 17, 2024 at 6:14 PM

US retail sales ticked up last month in sign of ongoing consumer resilience

Americans spent a bit more at retailers last month, providing a small boost to the economy just as the Federal Reserve considers how much to cut its key interest rate
September 17, 2024 at 6:14 PM
Shoppers consider purchases in a Costco warehouse Thursday, Sept. 12, 2024, in Thornton, Colo. (AP Photo/David Zalubowski)
September 17, 2024 at 9:57 AM

An interest rate cut is expected this week. Experts explain what to know

Investors widely expect the Fed to cut interest rates at a meeting on Wednesday.
September 17, 2024 at 9:57 AM
In this June 2, 2016 file photo, The Eccles Building, location of the Board of Governors of the Federal Reserve System and of the Federal Open Market Committee, is seen in Washington.
September 16, 2024 at 4:16 PM

What to know about a possible rate cut this week

ABC News business reporter Alexis Christoforous explains why investors widely expect the Fed to slash interest rates at a meeting on Wednesday.
September 16, 2024 at 4:16 PM
VIDEO: What to know about a possible rate cut this week
September 15, 2024 at 1:38 PM

Will the Federal Reserve cut interest rates?

Most investors are betting that the Federal Reserve will reduce rates by a quarter point this week, cutting rates for the first time in four years.
September 15, 2024 at 1:38 PM
VIDEO: Will the Federal Reserve cut interest rates?
September 14, 2024 at 3:54 PM

Gas prices expected to keep falling

ABC News' Correspondent Alexis Christoforous breaks down the relief at the pump as more than a dozen states are now below $3 a gallon.
September 14, 2024 at 3:54 PM
VIDEO: Gas prices expected to keep falling
September 13, 2024 at 3:34 PM

US consumer sentiment ticks higher for second month but remains subdued

Americans’ outlook on the economy improved for the second straight month in September, bolstered by lower prices for long-lasting goods such as cars and furniture
September 13, 2024 at 3:34 PM
FILE - Shoppers pass a sign trumpeting sales at an outlet mall Wednesday, Sept. 11, 2024, in Lakewood, Colo. (AP Photo/David Zalubowski, File)
September 12, 2024 at 6:36 PM

US filings for unemployment benefits inch up slightly but remain historically low

Slightly more Americans filed for unemployment benefits last week, but layoffs remain at historically low levels despite two years of elevated interest rates
September 12, 2024 at 6:36 PM
A hiring sign is displayed at a retail store in Vernon Hills, Ill., Saturday, Sept. 7, 2024. (AP Photo/Nam Y. Huh)
September 12, 2024 at 1:34 PM

Wholesale inflation mostly cooled last month in latest sign that price pressures are slowing

U.S. wholesale price increases mostly slowed last month, the latest evidence that inflation pressures are cooling enough for the Federal Reserve to begin cutting interest rates next week
September 12, 2024 at 1:34 PM
FILE - Kubota excavators are displayed at a dealership in Butler, Pa., July 11, 2024. (AP Photo/Gene J. Puskar, File)
September 12, 2024 at 12:49 PM

Freshly squeezed: Savers already feeling the pain ahead of likely start to Fed rate cuts

This week the Federal Reserve is likely to cut its main interest rate for the first time in more than four years
September 12, 2024 at 12:49 PM
FILE - The Marriner S. Eccles Federal Reserve Board Building in Washington is shown June 19, 2015. (AP Photo/Andrew Harnik, File)
September 11, 2024 at 7:27 PM

These 2 grocery categories still cost more: Expert shares silver linings for shoppers

Food at home prices increased over the last year with eggs and meat increasing at the grocery store month to month; but retailers are fighting for shopper savings.
September 11, 2024 at 7:27 PM
In this undated stock photo, a customer buys produce at the checkout line of a supermarket.
September 11, 2024 at 3:38 PM

Inflation slowed in August, paving way for interest rate cut

ABC News business reporter Alexis Christoforous discusses the latest figures days before the Federal Reserve is widely expected to make an interest rate cut.
September 11, 2024 at 3:38 PM
VIDEO: Inflation slowed in August, paving way for interest rate cut
September 11, 2024 at 2:30 PM

Inflation falls more than expected, paving way for interest rate cut

The Fed is widely expected to cut interest rates next week.
September 11, 2024 at 2:30 PM
People shop at a grocery store on Aug. 14, 2024 in Rosemead, Calif.
September 10, 2024 at 4:30 PM

How the US economy has shifted past elections

Presidential historian Mark Updegrove explains how political fortunes have been decided by the state of the economy.
September 10, 2024 at 4:30 PM
VIDEO: How the US economy has shifted past elections
September 10, 2024 at 4:28 PM

Economic issues to watch out for on debate night

ABC News business reporter Alexis Christoforous on what many voters says is a top issue in the upcoming election.
September 10, 2024 at 4:28 PM
VIDEO: Economic issues to watch out for on debate night
September 6, 2024 at 11:05 PM

Slowing but steady job market reported in August

The U.S. added 142,000 jobs in August, according to Friday's jobs report. The unemployment rate now stands at 4.2%.
September 6, 2024 at 11:05 PM
VIDEO: Slowing but steady job market reported in August
September 6, 2024 at 9:20 PM

Kroger CEO says prices will come down if merger approved

Rodney McMullen said merging with rival Albertsons would allow its stores to be competitive against retailers such as Walmart and Amazon.
September 6, 2024 at 9:20 PM
VIDEO: Kroger CEO says prices will come down if merger approved
September 6, 2024 at 2:14 PM

Slowing but steady job market reported in August

The U.S. added 142,000 jobs in August, according to the latest jobs report.
September 6, 2024 at 2:14 PM
A person waits in a line for a prospective employer at a job fair, Aug. 29, 2024, in Sunrise, Fla.
September 5, 2024 at 1:34 PM

Americans who have a job are feeling secure. Not so for many who are looking for one

The American labor market, red-hot for the past few years, has cooled
September 5, 2024 at 1:34 PM
A person waits in a line for a prospective employer at a job fair, Thursday, Aug. 29, 2024, in Sunrise, Fla. (AP Photo/Lynne Sladky)
September 5, 2024 at 1:34 PM

Applications for US jobless benefits fall to 2-month low as layoffs remain at healthy levels

The number of Americans filing for unemployment benefits fell to its lowest level in two months last week, signaling that layoffs remain relatively low despite other signs of labor market cooling
September 5, 2024 at 1:34 PM
FILE - A hiring sign is displayed at a restaurant in Arlington Heights, Ill., June 28, 2024. (AP Photo/Nam Y. Huh, File)
September 2, 2024 at 12:56 AM

Thousands of hotel workers on strike at major chains

The strikes are taking place at 25 hotels across eight cities, including Boston and San Francisco, with workers demanding higher wages.
September 2, 2024 at 12:56 AM
VIDEO: Thousands of hotel workers on strike at major chains
August 29, 2024 at 3:06 PM

US economy shows growth last quarter

Unemployment benefit applications were down last week as Americans are making personal finance decisions for the rest of the year.
August 29, 2024 at 3:06 PM
VIDEO: US economy shows growth last quarter
August 26, 2024 at 7:50 PM

Feds take grocery merger to court over high food prices

Grocery stores Kroger and Albertsons are in court after the Federal Trade Commission claimed the merger would eliminate competition and raise food prices.
August 26, 2024 at 7:50 PM
VIDEO: Feds take grocery merger to court over high food prices
August 26, 2024 at 5:08 PM

How much will the Fed cut interest rates? Experts weigh in

"The time has come" for a shift toward rate cuts, Fed Chair Jerome Powell said. But how much will rates go down?
August 26, 2024 at 5:08 PM
The Marriner S. Eccles Federal Reserve building in Washington, D.C., Aug. 21, 2024.
1 month ago

Investors respond to interest rate news

The Federal Reserve is now poised to cut interest rates in its next meeting, sending stocks surging on Wall Street.
1 month ago
VIDEO: Investors respond to interest rate news
1 month ago

Fed Chair Powell says 'time has come' for shift toward interest rate cuts

The Fed is widely expected to cut rates at its next meeting in September.
1 month ago
(FILES) US Federal Reserve Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting at the Federal Reserve in Washington, DC, on July 31, 2024. Powell said on August 23, 2024, that the "time has come" for the US to start cutting interest rates, adding that his "confidence has grown" that the battle against inflation is on track. "The time has come for policy to adjust," he said in a keynote speech at the Jackson Hole Economic Symposium in Wyoming, according to prepared remarks.
1 month ago

Fed Chair says the central bank would soon begin cutting interest rates

Federal Reserve Chair Jerome Powell made it clear that borrowers could see an interest rate cut in September.
1 month ago
VIDEO: Fed Chair says the central bank would soon begin cutting interest rates
1 month ago

VP Harris accepts Democratic nomination as RFK Jr. suspends presidential campaign

Plus, independent candidate RFK, Jr. suspends presidential campaign and endorses former president, now GOP nominee, Donald Trump.
1 month ago
VIDEO: 'Time has come' to reduce interest rates: Federal Reserve chair
1 month ago

Fed Chair Powell says 'time has come' for shift toward interest rate cuts

The announcement comes after a yearslong effort to fight inflation with highly elevated interest rates.
1 month ago
VIDEO: Fed Chair Powell says 'time has come' for shift toward interest rate cuts
1 month ago

How a Canadian rail shutdown could worsen US inflation

Two major Canadian freight rail companies locked out thousands of workers on Thursday, shutting down cross-border shipping routes.
1 month ago
A Canadian National Railway locomotive pulls a train through the CPKC Waterfront Layover Yard, Aug. 21, 2024, in Vancouver, British Columbia, Canada.
1 month ago

Fed set to cut interest rates in September

Job growth is slower than expected and the Federal Reserve may cut rates by half a percentage point next month due to weak manufacturing.
1 month ago
VIDEO: Fed set to cut interest rates in September
1 month ago

DNC speakers claim Biden inherited broken economy. Economists say it's more complex

Economy was no longer in recession but Biden advanced recovery, experts said.
1 month ago
Former President Barack Obama speaks at the Democratic National Convention in Chicago on Aug. 20, 2024.
1 month ago

FTC ban on worker noncompete agreements blocked by federal judge

An estimated 30 million Americans -- 1 out of every 5 workers -- are employed with noncompete agreements in industries ranging from tech to fast food.
1 month ago
The Federal Trade Commission seal on the wall at the organizations' headquarters in Washington, May 20, 2024.
1 month ago

Harris plans to tackle inflation. Economists say the fight is nearly over.

Inflation stands below 3% for the first time since 2021.
1 month ago
Democratic presidential candidate, Vice President Kamala Harris speaks to reporters outside of Primanti Bros. Restaurant, Aug. 18, 2024, in Moon Township, Pa.
1 month ago

Here's what economists think of Harris' economic agenda

Proposals include a ban on grocery price gouging and subsidy for homebuyers.
1 month ago
U.S. Vice President Kamala Harris delivers remarks on Medicare drug price negotiations, at an event with U.S. President Joe Biden in Prince George's County, Md., Aug. 15, 2024.
1 month ago

Looming Canada rail strike may impact US supply chain

Canada's two largest railroads could strike this week, potentially causing supply chain issues for the U.S.
1 month ago
VIDEO: Looming Canada rail strike may impact US supply chain
1 month ago

Shake-up, as new real estate commission rules go into effect

The rules are expected to change the game for both buyers and sellers leaving more room, especially for sellers, to negotiate commissions.
1 month ago
VIDEO: Shake-up, as new real estate commission rules go into effect