Alexa

Existing home sales rise in 2020 to highest in 14 years

WASHINGTON (AP) — Sales of existing homes rose 0.7% in December, pushing the entirety of 2020 to a pace not seen in 14 years and providing one of the few bright spots for a U.S. economy mired in a glo...

US home construction jumps 5.8% in December to 1.67 million

WASHINGTON (AP) — U.S. home construction jumped 5.8% in December to 1.67 million units, ending a strong year for home building. The better-than-expected gain followed an increase of ...

Yellen urges Congress to do more to fight pandemic recession

WASHINGTON (AP) — Treasury Secretary nominee Janet Yellen is calling on Congress to do more to fight a deep pandemic-induced recession, saying the threats of a longer and even worse downturn are too g...

Biden's national security Cabinet nominees face Senate tests

WASHINGTON (AP) — President-elect Joe Biden’s national security Cabinet may be bare on Day One of his presidency, but an inauguration-eve spurt of Senate confirmation hearings suggests that won’t be t...

December wholesale prices up 0.3% with sharp jump in energy

WASHINGTON (AP) — U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June. The Labor Department reported Friday that the gain in its producer...

US budget deficit up 60.7% in first 3 months of budget year

WASHINGTON (AP) — The U.S. government's deficit in the first three months of the budget year was a record-breaking $572.9 billion, 60.7% higher than the same period a year ago, as spending to deal wit...

Fed survey finds economy slowing in some areas of country

WASHINGTON (AP) — A Federal Reserve survey of U.S. business conditions has found modest economic gains at the start of the year, although some parts of the country saw slowdowns stemming from a renewe...

Consumer prices up 0.4% in December led by higher gas prices

WASHINGTON (AP) — U.S. consumer prices rose 0.4% in December, led by a sharp rise in gasoline prices. The Labor Department said Wednesday that the December increase followed a 0.2% r...

Yellen's Senate confirmation hearing expected Jan. 19

WASHINGTON (AP) — The Senate Finance Committee is expected to hold a confirmation hearing for Treasury Secretary-nominee Janet Yellen on Jan. 19, two sources familiar with the planning said Tuesday. ...

US consumer credit up 4.4% in November, best in 5 months

WASHINGTON (AP) — U.S. consumer borrowing rose 4.4% in November, its strongest showing in five months, led by strong gains in auto and student loans that offset a drop in credit card borrowing. ...

Fed transcripts show doubts about need for 2015 rate hike

WASHINGTON (AP) — Newly released transcripts show that many Federal Reserve officials had concerns in late 2015 over whether they were making a mistake in raising a key interest rate for the first tim...

US trade deficit jumps to $68.1 billion in November

WASHINGTON (AP) — The U.S. trade deficit jumped to $68.1 billion in November as a surge in imports overwhelmed a smaller increase in exports. The November gap between what America bu...

Fed supported advance notice before changing bond purchases

WASHINGTON (AP) — Federal Reserve officials last month supported providing advance notice before the central bank makes changes to its $120 billion in monthly bond purchases. The min...

World Bank sees subdued recovery in 2021 and plenty of risk

WASHINGTON (AP) — The global economy will experience a subdued recovery this year from the devastating pandemic, the World Bank predicted Tuesday, but it warned that the near-term outlook is highly un...

US factories grew in December at fastest pace since mid-2018

WASHINGTON (AP) — American factories grew in December at the fastest pace in more than two years as manufacturing continued to weather the pandemic better than the battered services sector. ...