US companies added the fewest number of workers since the start of the year and wage growth slowed, consistent with signs of a softer labor demand.
US consumer sentiment declined in June by less than initially estimated on expectations inflationary pressures will moderate.
Initial and recurring applications for US unemployment benefits both rose to a two-month high, suggesting some slowdown in the labor market.
Russia’s invasion of Ukraine and the resulting oil market tumult are prompting a global rethink of fossil fuel reliance that progressive Democrats want to seize for a renewable energy “moonshot.” But some of the party’s climate hawks also recognize that the U.S. may have to do something they find abhorrent: increase drilling.
Free community college was among the first big proposals cut as Democrats battled to get President Joe Biden’s agenda down to size -- yet an analysis says dropping the $109 billion initiative carries a lasting economic cost.
Democrats hit a wall in their high-stakes effort to simultaneously avert a government shutdown, avoid a debt default and advance President Joe Biden’s $4 trillion agenda, as feuding gripped lawmakers and a looming economic catastrophe shook markets.
The escalating coronavirus pandemic could reverse decades of gains in the fight against poverty, as U.S. government aid for the vulnerable dries up.
The U.S. economy faces “slow going” with no additional fiscal support likely for several months, said former New York Fed President William Dudley.
