Economy
Follow the latest Economy news, videos, and analysis from ABC News.
October 14, 2024 at 8:32 PM

Here's where inflation stands in the cities that could decide the election

Inflation has returned to normal but varies widely in major swing-state cities.
October 14, 2024 at 8:32 PM
Republican presidential nominee former President Donald Trump, left, and Democratic presidential nominee Vice President Kamala Harris during an ABC News presidential debate at the National Constitution Center, Sept. 10, 2024, in Philadelphia.
October 14, 2024 at 3:13 PM

Halloween spending down this year

The National Retail Federation predicts consumer spending on Halloween will drop 5% this year due to concerns about inflation and unemployment.
October 14, 2024 at 3:13 PM
VIDEO: Halloween spending down this year
October 12, 2024 at 6:06 PM

Migrants not taking jobs from Black, Hispanic people, data shows

Republican presidential nominee Donald Trump promises the biggest deportation event the U.S. has ever seen if he is elected
October 12, 2024 at 6:06 PM
Former US President and Republican presidential candidate Donald Trump speaks during a campaign rally at site of his first assassination attempt in Butler, Pennsylvania on Oct. 5, 2024.
October 11, 2024 at 7:44 PM

Here's how inflation largely came back to normal

Price increases are hovering right near the Fed's target rate of 2%.
October 11, 2024 at 7:44 PM
Customers shop at a grocery store in Waukegan, Ill., on Sept. 20, 2024.
October 11, 2024 at 1:50 PM

Wholesale inflation remained cool last month in sign that price pressures slowing

Wholesale prices in the United States were unchanged last month in another sign that inflation is returning to something close to normal after years of pressuring America’s households in the wake of COVID-19
October 11, 2024 at 1:50 PM
FILE - A worker operates a machine at the BMW Spartanburg plant in Greer, S.C., on Oct. 19, 2022. (AP Photo/Sean Rayford, File)
October 10, 2024 at 5:42 PM

US filings for jobless benefits jump to 258,000, the most in more than a year

The number of Americans filing for unemployment benefits last week jumped to its highest level in a year, which analysts are saying is more likely a result of Hurricane Helene — and the Boeing strike — than a broader softening in the labor market
October 10, 2024 at 5:42 PM
A hiring sign is displayed at a restaurant in Buffalo Grove, Ill., Tuesday, Oct. 8, 2024. (AP Photo/Nam Y. Huh)
October 10, 2024 at 4:27 PM

Social Security recipients will get a 2.5% cost-of-living boost in 2025

Millions of retirees who receive Social Security benefits will see a 2.5% cost-of-living increase to their monthly checks beginning in January
October 10, 2024 at 4:27 PM
FILE - A Social Security card is displayed on Oct. 12, 2021, in Tigard, Ore. (AP Photo/Jenny Kane, File)
October 10, 2024 at 4:24 PM

Average US 30-year mortgage rate surges to 6.32%, adding pressure to buyers

The average rate on a 30-year mortgage in the U.S. surged to 6.32% this week, adding pressure on home buyers facing sky-high prices and a limited supply of houses for sale
October 10, 2024 at 4:24 PM
FILE - A for sale sign is displayed in front of a home in Skokie, Ill., April 14, 2024. (AP Photo/Nam Y. Huh, File)
October 10, 2024 at 2:35 PM

Inflation continues to cool as election nears

ABC News business reporter Alexis Christoforous breaks down the latest economic news.
October 10, 2024 at 2:35 PM
VIDEO: Inflation continues to cool as election nears
October 10, 2024 at 2:25 PM

Inflation continued to cool as election nears

Consumer prices rose 2.4% over a year ending in September, data showed.
October 10, 2024 at 2:25 PM
Stock photo.
October 8, 2024 at 1:14 PM

Inflation has returned to normal. What does that mean for the election?

Inflation has fallen dramatically but remains a top concern for voters.
October 8, 2024 at 1:14 PM
High price of Eggs in store, Queens, New York.
October 7, 2024 at 9:02 PM

Analysis suggests deficit could increase under Harris, but would surge under Trump

No one is likely to be happy with the projected higher deficits laid out in a new analysis of Kamala Harris’ and Donald Trump’s economic plans
October 7, 2024 at 9:02 PM
This combination photo shows Democratic presidential nominee Vice President Kamala Harris at a rally in Flint, Mich., Oct. 4, 2024, left, and Republican presidential nominee former President Donald Trump at a campaign rally in Walker, Mich., Sept. 27, 2024. (AP Photo)
October 7, 2024 at 8:17 PM

More retailers selling gold as consumer demand increases

Costco began selling gold months ago, but more stores are getting in on the craze, as the precious metal continues to be a stable investment.
October 7, 2024 at 8:17 PM
VIDEO: More retailers selling gold as consumer demand increases
October 7, 2024 at 3:11 PM

Retailers kick off massive October sales

Amazon, Walmart, Target and more are popping up earlier than ever, with the brands wanting you to start your shopping now and keep it going through the next three months.
October 7, 2024 at 3:11 PM
VIDEO: Retailers kick off massive October sales
October 5, 2024 at 6:28 PM

Wall Street celebrating better-than-expected jobs report

ABC News’ business correspondent Alexis Christoforous breaks down the latest jobs report and what it could mean for interest rates.
October 5, 2024 at 6:28 PM
VIDEO: Wall Street celebrating better-than-expected jobs report
October 5, 2024 at 12:24 AM

Biden takes a victory lap on economy in surprise visit to White House briefing room

President Joe Biden chose to come to the briefing room for the first time just months before the end of his presidency to tout recent economic wins.
October 5, 2024 at 12:24 AM
President Joe Biden takes a question during a daily press briefing with Press Secretary Karine Jean-Pierre in the press briefing room at The White House in Washington, Oct. 4, 2024.
October 4, 2024 at 4:24 PM

Blockbuster jobs report paves way for US economy to avoid recession: Experts

The U.S. economy added 254,000 jobs in September, fresh data showed.
October 4, 2024 at 4:24 PM
A cyclist rides past a "Now Hiring" sign posted on a business storefront in San Gabriel, Calif. on Aug. 21, 2024.
October 4, 2024 at 3:07 PM

Jobs report blows past expectations, showing hiring surge

ABC News’ Alexis Christoforous discusses the added jobs numbers in September.
October 4, 2024 at 3:07 PM
VIDEO: Jobs report blows past expectations, showing hiring surge
October 3, 2024 at 6:44 PM

Dockworkers hit picket lines in historic US port strike that could impact prices

Tens of thousands of dockworkers are set to strike on Tuesday morning.
October 3, 2024 at 6:44 PM
Cargo shipping containers and cranes are seen at cargo terminals as part of the Port of Baltimore in Baltimore, June 12, 2024.
October 3, 2024 at 2:17 PM

More Americans file for unemployment benefits last week, but layoffs remain historically low

The number of Americans applying for unemployment benefits rose modestly last week but remains at healthy levels
October 3, 2024 at 2:17 PM
A hiring sign is displayed at a Dunkin' in Glenview, Ill., Tuesday, October. 1, 2024. (AP Photo/Nam Y. Huh)
October 2, 2024 at 10:15 PM

Trump and Harris both want a manufacturing boom. Their plans show stark differences.

Manufacturing accounts for about 10% of U.S. gross domestic product.
October 2, 2024 at 10:15 PM
Former President and Republican presidential nominee Donald Trump listens to questions during a Town Hall event, Sept. 27, 2024, in Warren, Mich. Vice President and Democratic nominee for President Kamala Harris speaks at an event, Sept. 25, 2024, in Pittsburgh.
October 2, 2024 at 4:37 PM

Hurricane Helene spotlights rising prices for home and flood insurance

The storm left devastation across a vast stretch from Florida to Tennessee.
October 2, 2024 at 4:37 PM
Baker Jarvis, a resident of Keaton Beach works to recover his belongings from his home after Hurricane Helene passed through the Florida panhandle, severely impacting the community in Keaton Beach, Fla., Sept. 29, 2024.
October 1, 2024 at 10:46 AM

Inflation in Europe falls below 2% and opens the way for faster rate cuts

Inflation in the 20 countries that use the euro fell to 1.8% in September, below the European Central Bank’s target of 2% for the first time in more than three years
October 1, 2024 at 10:46 AM
FILE - The European Central Bank stands at right as soccer players practise on a field next to the river Main, in Frankfurt, Germany, late Thursday, Sept. 19, 2024. (AP Photo/Michael Probst, File)
October 1, 2024 at 2:13 AM

45,000 dockworkers to strike, which will threatening U.S. supply chain

45,000 dockworkers are expected to walk off the job, potentially shutting down 36 ports from Massachusetts to Texas and causing disruptions in the supply chain and the U.S. economy.
October 1, 2024 at 2:13 AM
VIDEO: 45,000 dockworkers to strike, which will threatening U.S. supply chain
October 1, 2024 at 2:11 AM

By the Numbers: Americans increasingly reliant on government aid

As the American population ages and industrial jobs disappear, more people are counting on a larger share of their income to come from government aid such as Social Security, Medicare and Medicaid.
October 1, 2024 at 2:11 AM
VIDEO: By the Numbers: Americans increasingly reliant on government aid
September 30, 2024 at 9:10 PM

Fed chair says US economy is in 'solid shape,' gradual rate cuts coming

Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy
September 30, 2024 at 9:10 PM
FILE - Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Sept. 18, 2024. (AP Photo/Ben Curtis, File)
September 29, 2024 at 2:14 PM

Dock workers threatening to strike at some of the biggest ports in America

Concerns over potential effects to the supply chain grow as 45,000 dockworkers are threatening to strike from Texas to Maine.
September 29, 2024 at 2:14 PM
VIDEO: Dock workers threatening to strike at some of the biggest ports in America
September 27, 2024 at 8:22 PM

A looming port strike could fuel inflation and cause layoffs, experts say

Tens of thousands of dockworkers are set to strike as soon as Oct. 1, potentially snarling dozens of ports along the East and Gulf coasts with major implications for the U.S. economy.
September 27, 2024 at 8:22 PM
Tens of thousands of dockworkers are set to strike as soon as Oct. 1, potentially snarling dozens of ports along the East and Gulf coasts with major implications for the U.S. economy.
September 27, 2024 at 4:19 PM

A looming port strike could fuel inflation and cause layoffs, experts say

Tens of thousands of dockworkers are set to strike as soon as Oct. 1.
September 27, 2024 at 4:19 PM
In this June 10, 2024, file photo, a small boat passes by a cargo ship near the Seagirt Marine Terminal as the main shipping channel at the Port of Baltimore prepares to fully reopen, in Baltimore, Maryland.
September 24, 2024 at 1:39 AM

Labor Secretary Julie Su on unemployment rates and inflation

ABC News' Linsey Davis speaks with Acting Secretary of Labor, Julie Su, about the direction of America's economy ahead of the 2024 presidential election.
September 24, 2024 at 1:39 AM
VIDEO: Labor Secretary Julie Su on unemployment rates and inflation
September 23, 2024 at 6:59 PM

Labor Secretary Julie Su talks unemployment and the interest rate cut

Acting Labor Secretary Julie Su talks about the current unemployment rate and the Federal Reserve interest rate cut.
September 23, 2024 at 6:59 PM
VIDEO: Labor Secretary Julie Su talks unemployment and the interest rate cut
September 23, 2024 at 6:01 PM

Unemployment is low but rising quickly. Is it reason to worry?

An interest rate cut last week aimed to maintain job growth, experts said.
September 23, 2024 at 6:01 PM
Unemployment is low but rising quickly. Is it reason to worry?
September 20, 2024 at 6:55 PM

Biden calls rate cut 'an important day for the country'

In remarks on Thursday at the Economic Club in Washington, President Joe Biden said the Fed's rate cut was "an important day," but stopped short of declaring victory.
September 20, 2024 at 6:55 PM
President Joe Biden delivers remarks at the Economic Club of Washington, Sept. 19, 2024.
September 20, 2024 at 12:30 PM

Will the Fed cut interest rates again this year? Experts weigh in.

The Fed delivered a large interest rate cut this week. Will they do it again?
September 20, 2024 at 12:30 PM
The Federal Reserve Headquarters are pictured, March 21, 2023, in Washington, D.C.
1 month ago

Federal Reserve cuts interest rates

ABC News’ Elizabeth Schulze shares what you need to know about the Fed cutting interest rates and how it will affect your wallet.
1 month ago
VIDEO: Federal Reserve cuts interest rates
1 month ago

What does the rate cut mean for mortgages and homebuyers?

The Fed delivered a jumbo-sized rate cut this week.
1 month ago
A "For Sale" sign in front of a home in San Jose, Calif., Sept. 5, 2024.
1 month ago

How federal interest rate cut could affect your wallet

ABC News' Elizabeth Schulze breaks down some of the impacts of the Federal Reserve's lower interest rates on everyday economic issues and inflation.
1 month ago
VIDEO: How federal interest rate cut could affect your wallet
1 month ago

Fed cuts interest rates a half point

The Federal Reserve slashed interest rates for the first time since 2020 with a half-point cut, its biggest rate cut in 16 years.
1 month ago
VIDEO: Fed cuts interest rates a half point
1 month ago

Federal Reserve cuts interest rates for 1st time since 2020

"The time has come for policy to adjust," Fed Chair Jerome Powell said last month.
1 month ago
1 month ago

Fed Reserve cut interest for 1st time in 4 years

The Federal Reserve cut its benchmark interest rate by half a percentage point, reversing its years-long fight against inflation and potentially offering relief for borrowers facing high costs.
1 month ago
VIDEO: Fed Reserve cut interest for 1st time in 4 years
1 month ago

The Federal Reserve cuts interest rates for first time in 4 years

Our panel reacts to the Fed cutting interest rates by half a percent, the second wave of explosions in Lebanon Wednesday and lawyers for Sean "Diddy" Combs speaking on his sex trafficking indictment.
1 month ago
VIDEO: The Federal Reserve cuts interest rates for first time in four years
1 month ago

Fed cuts interest rates a half point in landmark policy shift

The Federal Reserve cut its benchmark interest rate a half of a percentage point on Wednesday in a landmark decision that dials back its years-long fight against inflation.
1 month ago
VIDEO: Fed cuts interest rates a half point in landmark policy shift
1 month ago

Fed expected to cut interest rates for 1st time in 4 years

The Federal Reserve is expected to announce its first interest rate cut in four years. ABC News’ Rebecca Jarvis breaks down what this means for your wallet.
1 month ago
VIDEO: Fed expected to cut interest rates for 1st time in 4 years
1 month ago

Gas prices are plummeting. Experts explain why.

In 16 states, an average gallon of gas costs less than $3.
1 month ago
A person fills gas in to their car in this undated stock photo.
1 month ago

Gas prices dropping as summer ends

The price of gasoline has dropped about 13% since the 2024 peak in April, according to AAA.
1 month ago
The price of gasoline has dropped about 13% since the 2024 peak in April, according to AAA.
1 month ago

An interest rate cut is expected this week. Experts explain what to know

Investors widely expect the Fed to cut interest rates at a meeting on Wednesday.
1 month ago
In this June 2, 2016 file photo, The Eccles Building, location of the Board of Governors of the Federal Reserve System and of the Federal Open Market Committee, is seen in Washington.
1 month ago

What to know about a possible rate cut this week

ABC News business reporter Alexis Christoforous explains why investors widely expect the Fed to slash interest rates at a meeting on Wednesday.
1 month ago
VIDEO: What to know about a possible rate cut this week
1 month ago

Will the Federal Reserve cut interest rates?

Most investors are betting that the Federal Reserve will reduce rates by a quarter point this week, cutting rates for the first time in four years.
1 month ago
VIDEO: Will the Federal Reserve cut interest rates?
1 month ago

Gas prices expected to keep falling

ABC News' Correspondent Alexis Christoforous breaks down the relief at the pump as more than a dozen states are now below $3 a gallon.
1 month ago
VIDEO: Gas prices expected to keep falling
1 month ago

These 2 grocery categories still cost more: Expert shares silver linings for shoppers

Food at home prices increased over the last year with eggs and meat increasing at the grocery store month to month; but retailers are fighting for shopper savings.
1 month ago
In this undated stock photo, a customer buys produce at the checkout line of a supermarket.