GDP shrank for a 2nd quarter in a row. While two consecutive quarters of negative growth is often considered a recession, it's not an official definition. Parts of the economy are clearly struggling.
The federal government is releasing its latest update on the U.S. economy. But numbers showing negative growth in the second quarter of the year will add to fears that a recession is underway.
U.S. Federal Reserve raises rates for fourth time in 2022, this time by another three-quarters of a percentage point to battle inflation. It's at a size and pace we haven't seen since the 1980s.
The Fed is expected to hike interest rates Wednesday. An Indiana doctor says she's been harassed for giving an abortion to a 10-year-old who had been raped. Russia cuts gas supplies to Europe.
NPR's Leila Fadel talks to economist Claudia Sahm about interest rate hikes by the Federal Reserve, and this week's release of quarterly economic growth numbers.
The Federal Reserve is expected to hike its benchmark interest rate by an additional three-quarters of a percentage point on Wednesday, as it continues to fight high inflation.
America is experiencing inflation levels it hasn't seen in decades. Now, there's talk of a possible Recession. And the Biden White House is trying to preemptively fight back against those fears.
Many first-time investors bought Bitcoin and other cryptocurrencies as they neared all-time highs, and crypto companies spent millions on marketing. Today, they are coping with painful losses.