Economic Indicators

President Biden approved a massive Gulf of Mexico fossil fuel lease sale, which his administration chose not to defend in court, when he signed the Inflation Reduction Act on Tuesday.

Sen. Joe Manchin, D-W.Va., admitted Tuesday that it would take some time for prices to come down nationwide following the signing of the Inflation Reduction Act.

Americans can expect to pay higher energy prices as a result of Democrats' massive climate and tax spending package, which President Biden signed into law on Tuesday, experts said.

Rising interest rates are starting to cool the housing market, with new U.S. home construction plunging to the lowest level in close to two years in July.

JPMorgan CEO Jamie Dimon says that boosting natural gas production in the United States does not equate with being against climate change.

Builder sentiment in the market for single-family homes plunged in August to the lowest level in two years, indicating the housing market is officially in a recession.

The fresh evidence of China's slowdown adds to the headwinds facing the global economy this year, which is already reeling from geopolitical events and inflation.

The Federal Reserve is expected to continue approving super-sized interest rate hikes, even after the July inflation report showed that price gains slowed down last month.

Schork Report principal Stephen Schork called out the Biden administration for claiming they are responsible for falling gas prices, stating it's due to a lack of demand.

Economists are questioning if the U.S. could be in a recession after the most recent employment report showed strength in the job market.

Industry representatives, Sen. Joe Manchin and others are still debating competing claims on how Democrats' spending and tax bill will affect U.S. energy.

The producer price index, which measures inflation at the wholesale level before it reaches consumers, remains at a multi-decade high, the Labor Department said on Thursday.

New applications for unemployment benefits ticked higher last week, evidence that the historically tight labor market is starting to loosen amid record-high inflation.

Inflation decreased annually in July and held steady on a monthly basis, according to the Bureau of Labor Statistics, leading some economists to say it may have peaked as gas prices begin to fall.

Gas prices continue to decline from a record-high national average of over $5 per gallon last month, dipping just before $4 per gallon for the first time since March.

Although the historically tight labor market is fueling big wage increases for American workers, those gains are being wiped out by the highest inflation in decades.

Consumer inflation remained near a multi-decade high in July as the price everyday goods like food, rent and used cars marched higher, the Labor Department said.

Painfully high inflation persisted in July as the consumer price index hovered near a 40-year high, continuing to create financial pressure for millions of U.S. households.

Hungarian inflation rose at the fastest rate in nearly twenty-five years as consumer food prices continue to soar amid hikes in interest rates.

U.S. consumer prices did not rise in July as the cost of gasoline plunged, delivering the first notable sign of relief for Americans. The dollar fell more than 1% on the data.