economy

Javier Ghersi/Getty Images (WASHINGTON) — The U.S. economy grew significantly more at the outset of this year than an initial measurement indicated, according to a major upward revision released on Thursday by the Commerce Department. Gross domestic product increased at a 2% annualized rate for a three-month period ending in March — a sizable jump […]

Bloomberg Creative/Getty Images (NEW YORK) — Federal Reserve Chair Jerome Powell on Wednesday voiced an optimistic message about the U.S. economy and downplayed the threat of a recession. “The U.S. economy has actually been quite resilient,” Powell said in Sentra, Portugal, at a conference organized by the European Central Bank. While acknowledging that a recession […]

Anton Petrus/Getty Images (NEW YORK) — Growing recession alarm at the outset of this year warned of a coming business slowdown and significant job losses — until a government report last month showed that unemployment stands at its lowest level in more than 50 years. A couple weeks later, in mid-February, fresh retail sales data […]

Javier Ghersi/Getty Images (WASHINGTON) — The U.S. economy grew robustly at the end of last year, defying recession fears and weathering an aggressive series of interest rate hikes from the Federal Reserve, government data showed. U.S. gross domestic product grew by a 2.9% annualized rate over the three months ending in December, according to data […]