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Grim GDP report undercuts Democrats' midterm messaging

The latest Gross Domestic Product (GDP) numbers out Thursday are poised to hamper Democrats' key argument heading into the midterm elections that the U.S. economy has rebounded from the dark days of the coronavirus pandemic.

US economy on brink of 'major recession,' Deutsche Bank warns

Deutsche Bank economists are doubling down on their prediction, forecasting a severe recession within the next two years as the Federal Reserve moves to tame the hottest inflation in four decades with a series of mega interest rate hikes.

Boeing CEO bemoans Air Force One overruns

Boeing CEO David Calhoun suggested Wednesday that the company's deal with former President Trump to provide a new Air Force One fleet at a fixed price was a mistake now that development costs have surged.

House committee questions McKinsey executive over opioid, FDA consulting work

Members of Congress questioned global consulting firm McKinsey & Company's top managing partner Wednesday about the company's work for U.S. health regulators as it advised opioid drugmakers on how to boost painkiller sales. The hearing is part of an ongoing investigation into McKinsey's role in the opioid crisis.

What do a barrage of big Fed rate hikes mean for Americans' wallets?

Federal Reserve Chairman Jerome Powell last week solidified expectations for a half-percentage point rate hike at the central bank's May meeting as officials look to tame red-hot inflation, a move that could have major implications for millions of U.S. households.