The U.S. economy is losing steam. Bank woes and other hurdles are to blame.
The country's GDP growth is slowing as banks cut back on credit and the Federal Reserve tries to crack down on inflation.
U.S. economy
The job market is cooling as higher interest rates and a slowing economy take a toll
U.S. employers added 236,000 jobs in March as hiring slowed from the previous month. Unemployment dipped to 3.5%, from 3.6% in February.
SVB collapse could have ripple effects on minority-owned banks
Four minority founders reflect on the health of minority-owned banks in the U.S. following the sudden collapse of SVB.
Could the banking turmoil affect you? 5 ways it might
There are possible consequences for regular people, small businesses and the economy.
The unexpected American shopping spree seems to have cooled
Retail sales dipped 0.4% in February after a surprise start-of-the-year surge that appeared at odds with the Federal Reserve's goal of cooling down the economy.
The Fed already had a tough inflation fight. Now, it must deal with banks collapsing
Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.
Zoom is the latest tech firm to announce layoffs, and its CEO will take a 98% pay cut
Zoom, a hallmark of pandemic life, is laying off some 1,300 employees, or about 15% of its workforce. CEO Eric Yuan said he and other executives will take pay cuts and forgo bonuses.
U.S. employers added 517,000 jobs last month. It's a surprisingly strong number
U.S. employers added 517,000 jobs in January, as the unemployment rate fell to 3.4% . The job market remains tight, despite signs of a slowing economy.
The U.S. economy ended 2022 on a high note. This year is looking different
The U.S. economy grew at an annual rate of 2.9% in the final three months of last year — a surprisingly strong finish. But growth is expected to slow in 2023, and possibly even reverse.
Inflation is easing, even if it may not feel that way
Annual inflation continued to ease, cooling to 6.5% in December, but prices are still climbing at a rapid rate, meaning people have to work longer and harder to keep the same standard of living.