Economy
Follow the latest Economy news, videos, and analysis from ABC News.
1 hour ago

Fed official: Need ‘dust to clear’ before deciding next moves

Austan Goolsbee, president of the Federal Reserve's Chicago branch, talks with The Associated Press about inflation, the job market and when rate cuts could resume
1 hour ago
(AP Illustration / Jenni Sohn)
February 16, 2025 at 2:59 PM

What to know about the bird flu outbreak and its risk to your health and wallet

ABC News’ medical correspondent Dr. Darien Sutton and ABC’s Alexis Christoforous breakdown the health risk of the bird flu and the impacts it’s making on prices at the grocery store.
February 16, 2025 at 2:59 PM
VIDEO: What to know about the bird flu outbreak and its risk to your health and wallet
February 16, 2025 at 2:07 AM

Egg prices hit record high 

The average cost of a dozen eggs hit $4.95 -- 81 cents higher than the month before, according to the Bureau of Labor Statistics.
February 16, 2025 at 2:07 AM
VIDEO: Egg prices hit record high 
February 15, 2025 at 4:04 PM

Credit card debt at record high

Americans’ total credit card balance hit a new all-time high of over $1.2 trillion, according to a new report from the federal Reserve Bank of New York.
February 15, 2025 at 4:04 PM
VIDEO: Credit card debt at record high
February 14, 2025 at 7:09 PM

Chickens for rent amid scramble for pricey eggs

Due to rising bird flu infections across the United States, an egg shortage has left many Americans scrambling. One solution: renting chickens.
February 14, 2025 at 7:09 PM
A Connecticut farmer came up with the idea five years ago, but now he’s becoming quite popular as the price of eggs climb.
February 14, 2025 at 3:06 PM

Americans' credit card debt reaches new record high: Federal Reserve

Americans' household debt is at a new all-time high $18.04 trillion, according to a report released Thursday by the Federal Reserve Bank of New York.
February 14, 2025 at 3:06 PM
Visa credit cards are displayed in Washington, Oct. 27, 2009.
February 14, 2025 at 2:31 PM

US retail sales plunged along with temperatures in January

U.S. retail sales dropped sharply last month, in part because cold weather kept more Americans indoors and dented sales at car dealers and most other stores
February 14, 2025 at 2:31 PM
FILE - A table is stacked with striped lounge sets in a Costco warehouse Monday, Feb. 3, 2025, in east Denver. (AP Photo/David Zalubowski)
February 13, 2025 at 3:24 PM

Breakfast is booming at US restaurants. Is it also contributing to high egg prices?

It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem
February 13, 2025 at 3:24 PM
Eggs in a bowl after being cracked during the process of making a fresh omelette at The Breakfast Brothers restaurant, Wednesday, Feb. 12, 2025, in Arlington, Texas. (AP Photo/Julio Cortez)
February 13, 2025 at 2:06 PM

Trump blames Biden for worse than expected inflation

New inflation figures have President Donald Trump pointing the finger at his predecessor, while Americans deal with the financial fallout.
February 13, 2025 at 2:06 PM
New inflation figures have President Donald Trump pointing the finger at his predecessor, while Americans deal with the financial fallout.
February 13, 2025 at 2:01 PM

US wholesale prices up a hotter-than-expected 0.4% in December

U.S. wholesale prices came in hotter than expected last month at a time when progress against inflation appears to have stalled, undercutting expectations for lower interest rates this year
February 13, 2025 at 2:01 PM
FILE - Shoppers guide their carts through the milk display in a Costco warehouse Thursday, Jan. 23, 2025, in Sheridan, Colo. (AP Photo/David Zalubowski)
February 13, 2025 at 1:58 PM

Number of Americans seeking jobless benefits falls as employers hold on to workers

U.S. applications for unemployment benefits fell last week as employers continue to retain workers despite resurgent inflation and elevated interest rates
February 13, 2025 at 1:58 PM
FILE - A hiring sign is seen in Waukegan, Ill., on Sept. 28, 2024. (AP Photo/Nam Y. Huh, File)
February 13, 2025 at 1:46 PM

Mortgage and credit card interest rates to remain high

Inflation is up for the fourth straight month with families paying more groceries and medical bills, and it being unlikely that the Fed will cut interest rates anytime soon.
February 13, 2025 at 1:46 PM
VIDEO: Mortgage and credit card interest rates to remain high
February 13, 2025 at 9:10 AM

Inflation rises as consumer prices surge in January

As President Donald Trump returned to office, inflation rose to 3% in January, marking the highest level in seven months. The increase is higher than many experts expected.
February 13, 2025 at 9:10 AM
VIDEO: Inflation rises as consumer prices surge in January
February 12, 2025 at 11:33 PM

Joann to close 500 of its 800 fabric and craft stores

The move is part of the company's ongoing bankruptcy proceedings.
February 12, 2025 at 11:33 PM
In this April 11, 2012, file photo, a Jo-Ann Fabrics store is shown in Wyomissing, Pa.
February 12, 2025 at 6:30 PM

Trump's comments won't affect interest rate decisions by the Fed, Powell says

Federal Reserve Chair Jerome Powell said Wednesday President Donald Trump’s calls for lower interest rates won’t lead the central bank to change its rate decisions
February 12, 2025 at 6:30 PM
Federal Reserve Board Chairman Jerome Powell testifies before the House Financial Services Committee during a hearing on the Semi-Annual Monetary Policy Report, on Capitol Hill in Washington, Wednesday, Feb. 12, 2025. (AP Photo/Jose Luis Magana)
February 12, 2025 at 4:16 PM

Inflation increased in January, posing obstacle for tariff plans

Consumer prices rose 3% in January compared to a year ago, data showed. ABC News' Alexis Christoforous reports.
February 12, 2025 at 4:16 PM
VIDEO: Inflation increased in January, posing obstacle for tariff plans
February 12, 2025 at 3:30 AM

By The Numbers: The future of pennies and ‘wasteful’ production

A look at the numbers behind the cost of coin making, just how many coins are circulated and U.S. mint coin production as President Trump instructs the Treasury to stop producing the one-cent coins.
February 12, 2025 at 3:30 AM
By The Numbers: The future of pennies and ‘wasteful’ production
February 11, 2025 at 11:06 PM

These prices could rise due to tariffs on steel and aluminum

Trump this week announced 25% tariffs on all imported steel and aluminum.
February 11, 2025 at 11:06 PM
President Donald Trump speaks to the media during an executive order signing in the Oval Office of the White House in Washington, Feb. 10, 2025.
February 11, 2025 at 7:28 PM

Quiksilver, Billabong and Volcom stores are closing in the US in 2025

All Quiksilver, Billabong and Volcom stores will be closing in the U.S due to a voluntary bankruptcy filed by Liberated Brands.
February 11, 2025 at 7:28 PM
In this Nov. 8, 2015, file photo, big discounts on merchandise and fixtures are advertised in the Quicksilver store in Times Square in New York.
February 11, 2025 at 5:07 PM

Fed chair testifies on Capitol Hill

ABC News’ Alexis Christoforous reports on what Fed Chair Jerome Powell is telling lawmakers about a “strong overall” economy.
February 11, 2025 at 5:07 PM
VIDEO: Fed chair testifies on Capitol Hill
February 11, 2025 at 3:54 PM

Skyrocketing egg prices hit consumers hard

With bird flu infections across the nation surging and egg supply plummeting, consumers are on the hunt for eggs as prices rise and businesses are feeling the pressure.
February 11, 2025 at 3:54 PM
VIDEO: Skyrocketing egg prices hit consumers hard
February 11, 2025 at 1:51 PM

Coca-Cola posts strong fourth quarter revenue as global sales volumes rise

Coca-Cola posted better-than-expected revenue in the fourth quarter as its sales volumes rose in the U.S., China and elsewhere
February 11, 2025 at 1:51 PM
FILE - Cans of Coca-Cola are on display at a grocery market in Uniontown, Pa, April 24, 2022. (AP Photo/Gene J. Puskar, File)
February 11, 2025 at 1:19 PM

Trader Joe's, Costco, Sprouts limit purchases on fresh eggs amid shortages

Costco, Trader Joe's, Sprouts and other grocery stores across the U.S. are limiting how many eggs customers can buy as bird flu continues to dwindle supply.
February 11, 2025 at 1:19 PM
A shopper selects a carton of eggs from a display in a Walmart store, Feb. 7, 2025, in Englewood, Colo.
February 11, 2025 at 3:00 AM

Supermarkets limit purchases on fresh eggs amid shortages

With the price of eggs skyrocketing as cases of bird flu spread among flocks across the United States, chains like Costco and Trader Joe's have implemented purchase limits.
February 11, 2025 at 3:00 AM
VIDEO: Supermarkets limit purchases on fresh eggs amid shortages
February 10, 2025 at 7:46 PM

Rise in egg thefts amid nationwide shortage

The thefts come amid a soaring number of bird flu infections across the United States, which is causing an egg shortage.
February 10, 2025 at 7:46 PM
VIDEO: Rise in egg thefts amid nationwide shortage
February 10, 2025 at 12:31 PM

Trump has directed US Treasury to stop minting new pennies, citing rising cost

President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin
February 10, 2025 at 12:31 PM
President Donald Trump is pictured before boarding Air Force One at the Naval Air Station Joint Reserve Base in New Orleans, Sunday, Feb. 9, 2025. (AP Photo/Ben Curtis)
February 7, 2025 at 8:17 PM

See how egg prices in the US have changed from 1980 to now

Egg prices have remained steady over the past 45 years, until now.
February 7, 2025 at 8:17 PM
Egg prices have remained steady over the past 45 years, until now.
February 7, 2025 at 6:09 PM

CEO speaks out after $40K egg heist in Pennsylvania

The CEO of Pete and Gerry’s Eggs is speaking out after 100,000 eggs were stolen from one of its facilities in Pennsylvania last weekend.
February 7, 2025 at 6:09 PM
A customer picks up a dozen eggs to buy  in a Giant grocery store in McLean, Virginia on Jan. 28, 2025.
February 7, 2025 at 4:46 PM

US employers added just 143,000 jobs last month

ABC News’ Alexis Christoforous breaks down the report which also shows that the jobless rate slipped to 4% to start 2025.
February 7, 2025 at 4:46 PM
VIDEO: US employers added just 143,000 jobs last month
February 6, 2025 at 5:52 PM

Rents are high. A new bill in Congress aims to change that.

New legislation in Congress aims to tackle a financial burden weighing on millions of households -- rent that is too damn high, as one NYC activist famously claimed.
February 6, 2025 at 5:52 PM
For Rent Real Estate Sign In Front of a Row of Apartment Condominiums Balconies and Garage Doors.
February 6, 2025 at 3:01 PM

Unemployment applications rose to 219K last week; layoffs remain relatively low

More Americans filed unemployment claims last week, but the labor market remains healthy and layoffs relatively low
February 6, 2025 at 3:01 PM
FILE- Hiring sign is displayed at a grocery store in Glenview, Ill., Monday, Nov. 25, 2024. (AP Photo/Nam Y. Huh, File)
February 6, 2025 at 10:05 AM

The cost of eggs is breaking records but may level out soon

The United States has experienced a significant rise in egg prices due to the bird flu outbreak, resulting in the deaths of millions of laying hens.
February 6, 2025 at 10:05 AM
VIDEO: The cost of eggs is breaking records but may level out soon
February 5, 2025 at 4:37 PM

These prices may go up due to China tariffs

Trump slapped a 10% tariff on China this week.
February 5, 2025 at 4:37 PM
President Donald Trump speaks with reporters after signing two executive orders in the Oval Office of the White House, Feb. 4, 2025 in Washington.
February 4, 2025 at 6:21 PM

Waffle House adds surcharge on eggs

Waffle House said the recent egg shortage has prompted "difficult decisions," with the chain adding a per-egg surcharge to its menu.
February 4, 2025 at 6:21 PM
In an aerial view, a Waffle House restaurant on July 30, 2024 in Miami Gardens, Fla.
February 4, 2025 at 2:53 PM

How Trump’s tariff plan for China could impact online shopping

New tariffs get rid of a loophole, called de minimis exemption, where a Chinese retailer could ship up to $800 in goods directly to U.S. customers duty free.
February 4, 2025 at 2:53 PM
VIDEO: How Trump’s tariff plan for China could impact online shopping
February 4, 2025 at 1:01 AM

Potential impact of tariffs on US agriculture

Josh Gackle, a soybean farmer, discusses how Trump’s tariffs could impact soybean exports and U.S. agriculture.
February 4, 2025 at 1:01 AM
Potential impact of tariffs on US agriculture
February 3, 2025 at 10:09 PM

Dow and S&P 500 recover some losses after Trump pauses tariffs on Mexico

Tariffs on Canada, Mexico and China set the stage for a potential trade war.
February 3, 2025 at 10:09 PM
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on Jan. 30, 2025, in New York City.
February 3, 2025 at 8:53 PM

Manufacturers say tariffs on Mexico and Canada threaten to upend supply chains

Jay Timmons, president and CEO of the National Association of Manufacturers joined ABC News Live to discuss the impact tariffs on Mexico and Canada would have on the manufacturing sector in the U.S.
February 3, 2025 at 8:53 PM
VIDEO: Manufacturers say tariffs on Mexico and Canada threaten to upend supply chains
February 3, 2025 at 6:08 PM

How Trump’s tariffs could impact US consumers

ABC News’ Karen Travers and Matt Rivers, as well as economist Kimberly Clausing, discuss the impact of President Donald Trump’s tariffs on the economy.
February 3, 2025 at 6:08 PM
VIDEO: How Trump’s tariffs could impact US consumers
February 3, 2025 at 4:46 PM

US tariffs on Mexico 'paused for a month'

Mexican President Claudia Sheinbaum announced on X that Mexico has agreed to "reinforce" the Mexico-U.S. border with 10,000 National Guard troops "immediately."
February 3, 2025 at 4:46 PM
VIDEO: US tariffs on Mexico 'paused for a month'
February 3, 2025 at 4:33 PM

Trump imposes tariffs on Mexico, Canada and China

President Donald Trump imposed 25% tariffs on Mexico and Canada and 10% on Chinese goods, a move that could drive up prices for essentials like gas and groceries.
February 3, 2025 at 4:33 PM
VIDEO: Trump imposes tariffs on Mexico, Canada and China
February 3, 2025 at 3:37 PM

Businesses brace for impact of Trump’s new tariffs

American households and businesses are bracing for higher prices for nearly half of all goods imported into the U.S.
February 3, 2025 at 3:37 PM
VIDEO: Businesses brace for impact of Trump’s new tariffs
February 3, 2025 at 3:33 PM

Trump's tariffs send stock market falling

ABC News’ Elizabeth Schulze and Matt Rivers, as well as economist Kimberly Clausing, discuss the impact of President Donald Trump’s tariffs on the economy.
February 3, 2025 at 3:33 PM
VIDEO: Trump's tariffs send stock market falling
February 3, 2025 at 2:47 AM

Businesses brace for impact of tariffs

Americans may feel the impact of tariffs at the grocery store first, with higher prices for tomatoes and avocadoes. ABC News' Elizabeth Schulze reports.
February 3, 2025 at 2:47 AM
VIDEO: Businesses brace for impact of tariffs
February 2, 2025 at 5:16 PM

Growing concern over financial impact of Trump policies

"Financial Literacy for All" author John Hope Bryant discusses the potential fallout from tariffs and the rollback of DEI.
February 2, 2025 at 5:16 PM
VIDEO: Growing concern over financial impact of Trump policies
February 1, 2025 at 4:53 PM

Federal workers assured the buyout offer is 'valid, lawful, and will be honored'

Federal workers received emails from top officials at their agencies informing them that the resignation offers they received are "valid, lawful, and will be honored."
February 1, 2025 at 4:53 PM
The Office of Personnel Management (OPM) headquarters building, Jan. 29, 2025, in Washington, D.C.
January 31, 2025 at 8:01 PM

New tariffs on Canada, Mexico and China begin Saturday

Tariffs against Mexico, Canada and China will start on Saturday after a report circulated that the Trump administration was going to push it back a month, according to the White House.
January 31, 2025 at 8:01 PM
VIDEO: New tariffs on Canada, Mexico and China begin Saturday
January 31, 2025 at 7:23 PM

These prices could climb within days if Trump slaps tariffs on Canada and Mexico

The Trump administrations says the tariffs will take effect on Feb. 1.
January 31, 2025 at 7:23 PM
Customers shop produce at a grocery store, Jan. 15, 2025, in Chicago.
January 31, 2025 at 7:01 PM

These prices could climb within days if Trump slaps tariffs on Canada and Mexico

The Trump administration this week reiterated plans to slap 25% tariffs on all products from Canada and Mexico on Feb. 1.
January 31, 2025 at 7:01 PM
VIDEO: These prices could climb within days if Trump slaps tariffs on Canada and Mexico
January 31, 2025 at 3:53 PM

Where to get least expensive eggs, as prices rise

ABC News consumer correspondent Becky Worley shares where to find the best egg deals as people scramble to save.
January 31, 2025 at 3:53 PM
Where to get least expensive eggs, as prices rise