Economy

Levi Strauss & Co. is the latest in a growing number of companies to slash their workforce at the start of the new year. Their announcement follows those of Microsoft, Google and Amazon.

Freight levels through the Suez Canal have plummeted by 45% since Iran-backed Houthi militants began attacking vessels in the Red Sea, risking higher inflation and food insecurity.

The Federal Reserve's favorite measure of tracking inflation rose 0.2% in December after declining the previous month as high consumer prices persist.

U.S. consumers have continued to power the economy with excessive spending, but they are racking up credit card debt and draining their savings to do so.

High prices, swollen balances and soaring interest rates have all contributed to a rise in the average amount Americans pay monthly to service their debt.

China is warning Iran to get attacks by the Iranian-back Houthis on ships in the Red Sea under control or else it could harm their trade partnership.

The federal budget deficit widened by $89 billion in the first three months of FY24 compared to the same period last year, with rising interest costs outpacing higher tax revenue.

The Federal Reserve has always been a political entity. And Fed Chairman Jerome Powell knows if he wants to keep his job he will have to play politics this election year.

Mortgage rates climbed again this week, with the 30-year fixed-rate averaging 6.69%. While rates have declined since the fall, home prices are expected to continue to rise.

The U.S. and the U.K. announced sanctions targeting four senior Houthi officials amid ongoing attacks by the rebel group in the Red Sea.

Microsoft joined a growing list of companies to announce layoffs shortly into the new year. The cuts are impacting its gaming division, including Activision Blizzard workers.

Global shipping rates are rising rapidly after several months of attacks by Yemen's Houthi militants in the Red Sea, a key waterway for global trade.

Gross domestic product, the broadest measure of goods and services produced across the economy, grew at a 3.3% annualized rate during the fourth quarter.