KVSP Business
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Chip Somodevilla/Getty Images (WASHINGTON) –The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its second interest rate cut this year in an effort to jumpstart the flagging labor market. The widely expected move delivers a lowering of interest rates sought by President Donald Trump, though the […]
Chip Somodevilla/Getty Images (WASHINGTON) — The Federal Reserve on Wednesday will set the level of its benchmark interest rate, adjusting a major policy lever for the first time since a government shutdown sharply restricted the release of gold-standard federal data about the economy. In a rare exception, the U.S. government issued an inflation report last […]
Amazon CEO Andy Jassy speaks during a keynote address at AWS re:Invent 2024, a conference hosted by Amazon Web Services, at The Venetian Las Vegas, Dec. 3, 2024, in Las Vegas. (Noah Berger/Getty Images) (NEW YORK) — Amazon is set to lay off thousands of corporate workers, despite billions in profits and lucrative lines of […]
Stefan Rousseau – Pool/Getty Images (NEW YORK) — Prices for home appliances, cars and auto parts could be impacted by President Donald Trump’s decision overnight to end trade talks between the U.S. and Canada, some trade experts told ABC News. Trump said he’s terminating trade negotiations with Canada in response to a negative TV advertisement […]
Stock image of a social security card alongside US dollars. (Tetra Images/STOCK PHOTO/Getty Images) (NEW YORK) — Social security benefits will rise 2.8% starting in January, amounting to an additional $56 per month for 75 million recipients, the Social Security Administration (SSA) said on Friday. The cost-of-living adjustment for 2026, known as COLA, came in […]
Vegetables on display in a grocery store, August 15, 2025 in Delray Beach, Florida. (Joe Raedle/Getty Images) (NEW YORK) — Consumer prices rose 3% in September compared to a year ago, extending a monthslong uptick that has sent inflation to its highest level since January, government data on Friday showed. The reading came in lower […]
Joe Raedle/Getty Images (NEW YORK) — Car buyers may face elevated prices and a shortage of some vehicles due to a supply chain snarled by tariffs and challenges accessing crucial materials, some industry experts told ABC News. A shortage of aluminum halted production at plants operated by Jeep and Ford earlier this month, pausing the […]
Justin Sullivan/Getty Images (NEW YORK) — With new tariffs taking effect Tuesday on furniture and lumber, an analysis released by Goldman Sachs finds American consumers are paying for more than half of the cost of the levies imposed by President Donald Trump. In a research note to its clients, the global investment and banking giant […]
Oscar Wong/Getty Images (NEW YORK) — Consumer sentiment soured in October as a government shutdown threatens to weaken a wobbly economy beset by an uptick in inflation and a sharp slowdown of hiring, fresh data on Friday showed. The reading marked a decrease from the previous month but it came in higher than economists expected. Shopper attitudes […]
Andrew Harnik/Getty Images (WASHINGTON) — The government shutdown halted the release of key economic data, choking off the flow of information as some experts warn the economy may be slipping toward a recession, some economists told ABC News. A federal agency postponed the release of a monthly jobs report on Friday, leaving observers in the […]
