US economy
The Latest
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A Major Blow to US Economy: Fitch Cuts Credit Rating to AA+, Prompts Backlash from Yellen and Alleged Interference by Biden Administration
For the first time since it initiated its credit rating for the United States in 1994, Fitch Ratings, one of the three major credit-rating agencies, downgraded the long-term foreign currency debt rating of the US from AAA to AA+ on Tuesday, August 1. The outlook was shifted from negative to stable, marking a major setback after twelve years. 
For the first time since it initiated its credit rating for the United States in 1994, Fitch Ratings, one of the three major credit-rating agencies, downgraded the long-term foreign currency debt rating of the US from AAA to AA+ on Tuesday, August 1. The outlook was shifted from negative to stable, marking a major setback after twelve years. -
Stocks Close Higher As Fed Hikes See Cooldown
Economists anticipate a 0.5 percentage point rise in December 
Economists anticipate a 0.5 percentage point rise in December -
Two More U.S. States Join $5 Per Gallon Club As Oil Prices Continue To Rise
Michigan and Indiana joined a growing number of U.S. states with average gas prices of over $5 per gallon for regular fuel. 
Michigan and Indiana joined a growing number of U.S. states with average gas prices of over $5 per gallon for regular fuel. -
U.S. Truckers Struggling With Record-High Diesel Prices
The national average price of diesel surged to $5.296 per gallon over the weekend, nearly 4.3% higher compared to the previous week. 
The national average price of diesel surged to $5.296 per gallon over the weekend, nearly 4.3% higher compared to the previous week. -
Deutsche Bank First To Forecast U.S. Recession
Deutsche Bank forecasted that the U.S. is heading for a recession, which could hit late 2023. 
Deutsche Bank forecasted that the U.S. is heading for a recession, which could hit late 2023. -
California Sets New Record-High Gas Prices, Nearing $5 Per Gallon
Analysts expect gas prices to hit $5 per gallon in the coming months if not sooner if the same trends continue. Analysts expect gas prices to hit $5 per gallon in the coming months if not sooner if the same trends continue. -
Joe Biden Signs $1 Trillion Infrastructure Bill Into Law
U.S. President Joe Biden signed the bill into law during a ceremony on the White House South Lawn with both Democrats and Republicans in attendance. 
U.S. President Joe Biden signed the bill into law during a ceremony on the White House South Lawn with both Democrats and Republicans in attendance. -
Gold Remained Above $1,800 Support Following Fed Minutes
Some committee members said at the Federal Reserve's June monetary policy meeting that they expect tighter monetary policies to be implemented sooner than expected. 
Some committee members said at the Federal Reserve's June monetary policy meeting that they expect tighter monetary policies to be implemented sooner than expected. -
Federal Reserve Chief Says Economy Showing Sustained Improvement
Federal Reserve Chairman Jerome Powell said the economy is growing at a sustained rate but it still faces challenges due to the pandemic. 
Federal Reserve Chairman Jerome Powell said the economy is growing at a sustained rate but it still faces challenges due to the pandemic. -
Larry Summers Issues Warnings To Biden Of Unwanted Inflation
Continually "printing money" and borrowing at "unprecedented scales" creates risks, Summers said. 
Continually "printing money" and borrowing at "unprecedented scales" creates risks, Summers said.
