Economy News

26 Apr 2024, 23:23

Jamie Dimon thinks he knows why people are so gloomy about the economy

The lowest earners have been left out of the economic boom, and it's no wonder they're upset, JPMorgan CEO Dimon said.

26 Apr 2024, 22:58

Millennials having fewer kids could be a drag on the economy for the next decade

The impact of millennials having fewer kids will probably be worse than the impact of aging boomers, an economist told Business Insider.

26 Apr 2024, 22:35

Trump's team wants to restructure the Fed and let him have a say on interest rate decisions: WSJ

The Wall Street Journal reported that Trump's advisors are making a plan that would give Trump the authority to oust Powell from the Federal Reserve.

26 Apr 2024, 21:50

The 'peak boomer' crisis might only get worse: A fifth of Americans 50 and up have no retirement savings, and the majority are worried they won't have enough money

Many Americans headed toward retirement don't have the funds. It could contribute to the peak boomer crisis.

26 Apr 2024, 21:48

A Gen X mom makes $25,000 at Applebee's and can only afford one meal a day. She's one of many Americans who live paycheck to paycheck but don't qualify for government help.

Cherie Tobias, 48, can't afford groceries but doesn't qualify for government assistance.

26 Apr 2024, 21:23

Trump allies are drawing up plans to make the Fed less independent, report says

Trump allies have drafted proposals to rein in Fed independence and align the central bank with the administration's interests, the Journal reported.

26 Apr 2024, 21:23

The more Americans who take Ozempic, the faster the US economy could grow, Goldman Sachs says

With the US obesity rate hovering at around 40%, tens of millions of Americans could take GLP-1 drugs over the next few years.

26 Apr 2024, 17:32

Vietnam's coffee bean production is hit by drought, could lead to rise in coffee prices globally

A long drought and hoarding could cut exports by 20% this year, Vietnam's coffee association said last month.

26 Apr 2024, 17:29

A 63-year-old peak boomer is 'incredibly scared' Social Security won't be enough to cover her expenses in retirement: 'I'll probably need to work until I die'

After Diane Senffner, 63, lost her job during the pandemic, she depleted her savings and hasn't been able to find stable work since.

26 Apr 2024, 16:13

The US economy may be barrelling towards stagflation, an outcome worse than recession

As US growth shows signs of sputtering and inflation keeps rising, a re-run of the tumultuous 1970s is looking more likely.

26 Apr 2024, 01:47

The US is under pressure to lead the way in reducing plastic pollution — but it keeps making more of it

World leaders are negotiating a treaty to end plastic pollution, and the US is under pressure to step up.

25 Apr 2024, 22:34

Russia's economy is so driven by the war in Ukraine that it cannot afford to either win or lose, economist says

"A protracted stalemate might be the only solution for Russia to avoid total economic collapse," one economist says.

25 Apr 2024, 22:10

Jamie Dimon says the US has less than 50% odds of nailing a soft landing: 'Don't get lulled into a false sense of security'

"It looks a little bit more like the '70s to me, and I point out to a lot of people, things looked pretty rosy in 1972 — they were not rosy in 1973."

25 Apr 2024, 21:29

A rate cut in June is still on tap because the job market is weakening, Citi economist says

Hiring activity could see a substantial slowdown later in the year, Citi economist Veronica Clark said.

25 Apr 2024, 21:03

The US economy started the year much slower than expected

The US economy began 2024 with cooler growth than the forecast. In the first quarter of this year, real GDP rose at an annualized rate of 1.6%.

25 Apr 2024, 19:58

A millennial couple who reached financial independence by their mid-30s but don't want to retire early share how they still save 80% of their income

Lindsey and David Barber save 80% to 85% of their income for retirement and their son's future, though neither want to retire early.

25 Apr 2024, 19:12

Billions of dollars of Ukraine aid are set to be spent in the US. Here are the cities that could get a boost.

The recently approved US aid to Ukraine could help create American jobs. Here are some of the cities that may benefit.

25 Apr 2024, 16:34

'Americans just work harder' than Europeans, said the CEO of Norway's $1.6 trillion oil fund

Nicolai Tangen said European companies aren't innovating as quickly as American ones, as he spoke of Norges Bank pushing into US equity investment.

25 Apr 2024, 02:42

China stopped taking our plastic. Now America is drowning in it.

America generates 40 million tons of plastic waste a year — and it can't be recycled.

25 Apr 2024, 02:19

The US is dealing with a rare bifurcation of the economy, and it's raising the odds of recession, Piper Sandler chief economist says

Big companies are weathering high interest rates. Consumers, meanwhile, are facing rising debt as inflation eats into wage gains.

Millennial wealth is booming. It turns out avocado toast didn't tank them after all.

25 Apr 2024, 00:32

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