Economy

American Peterbilt truck on trucking route Interstate 10 in Louisiana. Tim Graham | Getty Images Federal Reserve Chairman Jerome Powell‘s conviction that the inflation winds whipping through the U.S. economy this year soon will subside is not universally shared. In fact, a growing contingent within the Fed’s virtual halls is raising concern that the supply
A Panda Express restaurant displays a “Now Hiring” sign in Tampa, Florida, June 1, 2021. Octavio Jones | Reuters U.S. companies created far fewer jobs than expected in August as the Covid resurgence coincided with cutbacks in hiring, according to a report Wednesday from payroll services firm ADP. Private payrolls rose just 374,000 for the
U.S. economist Joseph Stiglitz believes now is a good time to rewire the U.S. economy, arguing that “we shouldn’t let a crisis go to waste.” The former senior vice president and chief economist of the World Bank said on Thursday that the coronavirus pandemic has highlighted how the economic system isn’t working, referencing inequality, the
Federal Reserve Chairman Jerome Powell adjusts his tie as he arrives to testify before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, July 15, 2021. Kevin Lamarque | Reuters Shifting policy views amid unexpected economic data have opened the door