U.S. consumer prices rose in June as the cost of gasoline surged, pointing to a gradual build up of inflationary pressures.» Read More
With the Dow Jones reaching an all-time high and the S&P 500 not far behind, markets have shrugged off the disappointment of the sequester. But Alastair Newton, senior political analyst at Nomura says that far bigger hurdles lie ahead that could potentially give the U.S. another "brush with default".
European leaders meeting in Brussels on Thursday hinted that some countries could be given more time to meet their deficit goals as they address high unemployment and seek to ease the pain of tough austerity measures.
As divisions over major reductions in federal budget deficits solidify, President Obama and members of Congress have begun weighing limited steps that might be brokered in a bipartisan deal.
Unfortunately for many consumers, the price savings from the growing U.S. energy boom have yet to materialize in the place it could have the most impact: the gas pump.
The number of Americans filing new claims for unemployment benefits fell last week, while producer prices rose by the most in 5 months as gas prices spiked.
Democrats made a mistake by not going over the "fiscal cliff" because a "grand bargain" would have been easier to achieve, House Minority Whip Steny Hoyer told CNBC.
More U.S. homeowners were hit with new foreclosure filings in February, pointing to the challenges the market still faces even as the housing recovery gains traction, RealtyTrac reported Thursday.
Germany has ignored calls from its euro zone partners for more economic stimulus by tabling plans to cut spending and balance its budget ahead of schedule on the eve of an EU summit dedicated to growth. The Financial Times reports.
President Obama is warning that it may be impossible to reach a deal with Republicans on trimming the budget deficit.
U.S. business inventories rose by the most in more than 1-1/2 years in January as sales fell, suggesting restocking of warehouses will boost economic growth this quarter.
Retail sales rose more than expected in February as Americans bought motor vehicles and a range of other goods even as they paid more for gasoline.
Despite economic headwinds and uncertainty in Washington, US consumers are rocketing ahead, leading analysts to revisit their GDP forecasts for the first quarter.
Mortgage rates spiked last week, sapping demand for home loans on the heels of a sharp rebound in applications the previous week, data from an industry group showed on Wednesday.
Democrats will unveil a budget blueprint that will slice the deficit by $1.85 trillion through spending cuts and tax increases.
Global oil demand is set to be depressed by weak economic growth throughout 2013 while soaring U.S. oil production gives consumers a cushion to withstand most supply outages, the IEA said.
Rep. Paul Ryan insists that his plan to balance the budget by, in part, defunding Obamacare is the right thing to do.
The retail sales report to be released Wednesday morning will help show how much higher payroll taxes and rising gas prices are hurting American pocketbooks.
Rep. Paul Ryan called his third budget an "invitation" to President Barack Obama and Senate Democrats to begin bargaining toward a deal to balance the budget.
The stock market rally and economic recovery are missing a typical key element - a house call from Dr. Copper.
For many Americans, the improving economy has yet to take hold even as they hear about a stronger stock market and better jobs data.
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