Economy
Follow the latest Economy news, videos, and analysis from ABC News.
18 minutes ago

How Red Sea attacks affect the economy

Continued attacks in the Red Sea could lead to economic impacts – and could affect the supply chain and oil prices.
18 minutes ago
How Red Sea attacks affect the economy
1 hour ago

Capitol One to buy Discover in major merger

ABC News’ Alexis Christoforous has the details on a major credit card merger as Capitol One is set to buy Discover in a historic deal.
1 hour ago
Capitol One to buy Discover in major merger
1 hour ago

What a possible Capital One and Discover merger means for consumers

The deal may hold long-term implications for customers across the industry.
1 hour ago
What a possible Capital One and Discover merger means for consumers
February 20, 2024 at 3:52 PM

Capitol One to buy Discover in $35.3 billion deal

ABC News business reporter Alexis Christoforous joins us to analyze the significance of these two major credit card companies' merger.
February 20, 2024 at 3:52 PM
Capitol One to buy Discover in $35.3 billion deal
February 16, 2024 at 6:22 PM

Consumer sentiment edges higher as economic growth accelerates and inflation fades

A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after years of gloom
February 16, 2024 at 6:22 PM
Consumers sentiment rose slightly last month as growth improves, inflation falls
February 16, 2024 at 4:21 PM

Nike to cut 2%, or 1,600 jobs, as athletic wear giant cuts costs and reinvests in areas like health

Nike is cutting 2% of its global workforce, or a little over 1,600 jobs, as the athletic wear giant aims to cut costs and reinvests its savings into what it sees as big growth areas like sport, health and wellness
February 16, 2024 at 4:21 PM
Nike to cut 1,600 jobs, as athletic wear giant cuts costs
February 16, 2024 at 3:18 PM

US wholesale inflation accelerated in January in latest sign that prices picked up last month

Wholesale prices in the United States accelerated in January, the latest sign that some inflation pressures in the economy remain elevated
February 16, 2024 at 3:18 PM
US wholesale inflation accelerated in January
February 15, 2024 at 9:50 PM

Retail sales fall 0.8% in January from December as shoppers pause after strong holiday season

Americans pulled back their spending in January after splurging during the holiday season
February 15, 2024 at 9:50 PM
February 15, 2024 at 6:04 PM

Is Biden the reason why red state economies are surging?

ABC News used four key metrics – job growth, personal income growth, gross domestic product growth and gas prices – to analyze the states’ economies.
February 15, 2024 at 6:04 PM
Is Biden the reason why red state economies are surging?
February 14, 2024 at 11:58 PM

Cisco Systems to lay off more than 4,000 workers in latest sign of tighter times in tech

Internet networking pioneer Cisco Systems is jettisoning more than 4,000 employees
February 14, 2024 at 11:58 PM
Cisco Systems to lay off more than 4,000 workers
February 14, 2024 at 5:30 PM

Inflation worse than expected

Grocery prices are getting even more expensive. ABC News’ Lionel Moise takes a closer look.
February 14, 2024 at 5:30 PM
Inflation worse than expected
February 13, 2024 at 8:04 PM

Unexpected January inflation numbers complicate Fed's plans to deescalate rate hikes

Still, the falling inflation offered welcome news for the Federal Reserve.
February 13, 2024 at 8:04 PM
Unexpected January inflation numbers complicate Fed's plans to deescalate rate hikes
February 13, 2024 at 4:57 PM

Inflation fell markedly in January but still higher than expected, latest data shows

Consumer prices rose 3.1% over the year ending in January.
February 13, 2024 at 4:57 PM
Inflation fell markedly in January as Fed weighs interest rate cuts
February 13, 2024 at 4:54 PM

Inflation numbers miss analyst expectations

Consumer prices rose 3.1% year-over-year in January, which is an improvement from December, but missed analysts’ expectations.
February 13, 2024 at 4:54 PM
Inflation numbers miss analyst expectations
February 13, 2024 at 4:16 PM

January inflation higher than expected

New numbers show inflation is cooling but at a slower rate than expected. This, as chocolate prices are soaring right before Valentine's Day.
February 13, 2024 at 4:16 PM
January inflation higher than expected
February 8, 2024 at 10:38 PM

US applications for unemployment benefits fall again despite recent layoff announcements

The number of Americans filing for jobless claims fell last week despite more layoff announcements from high-profile companies recently
February 8, 2024 at 10:38 PM
US applications for unemployment benefits fall again
February 8, 2024 at 6:39 PM

The economic surge feels like a drag? Your state may be underperforming

Consumer sentiment stands well below pre-pandemic levels.
February 8, 2024 at 6:39 PM
Many are down on the economy. See how your state is doing.
February 8, 2024 at 6:26 PM

Kansas lawmakers are allowing a 93% pay raise for themselves to take effect next year

Kansas is set to nearly double state legislators’ pay at the start of next year
February 8, 2024 at 6:26 PM
February 8, 2024 at 3:55 PM

Fast food chains see weaker sales amid higher prices

Consumers are pushing back against the rising costs of fast food, prompting some of the biggest chains to introduce ways for customers to save.
February 8, 2024 at 3:55 PM
Fast food chains see weaker sales amid higher prices
February 8, 2024 at 12:21 AM

Americans are feeling the financial sting as credit card debt reaches record highs

Millions of Americans are feeling the financial sting as credit card debt reaches record highs.
February 8, 2024 at 12:21 AM
Americans are feeling the financial sting as credit card debt reaches record highs
February 7, 2024 at 10:43 PM

US government debt to top $54 trillion in next decade, CBO says

The Congressional Budget Office cited an aging population and health care costs.
February 7, 2024 at 10:43 PM
US government debt to top $54 trillion in next decade, CBO says
February 7, 2024 at 1:23 PM

Americans' credit card debt hits record $1.13 trillion

Credit card debt increased by $50 billion in the fourth quarter of 2023 alone, a 4.6% jump from the previous quarter.
February 7, 2024 at 1:23 PM
Americans' credit card debt hits record $1.13 trillion
February 7, 2024 at 8:54 AM

A record number of Americans can't afford their rent. Lawmakers are scrambling to help

A new Harvard University study found that half of U.S. renters are paying nearly a third of their income on rent
February 7, 2024 at 8:54 AM
Record number of Americans can't afford their rent. Lawmakers are scrambling to help
February 4, 2024 at 4:08 PM

Biden administration accelerating latest debt-relief plan

ABC News’ business reporter Alexis Christoforous breaks down the latest debt-relief plan as it starts for some recipients.
February 4, 2024 at 4:08 PM
Biden administration accelerating latest debt-relief plan
February 3, 2024 at 6:23 PM

The Black unemployment rate is consistently twice that of white workers. Here's why

"Discrimination still exists," one economist told ABC News.
February 3, 2024 at 6:23 PM
Why the Black unemployment rate is consistently twice that of white workers
February 3, 2024 at 1:11 AM

353,000 new jobs added in January

The U.S. Labor Department released the January jobs report, with 353,000 new jobs added last month.
February 3, 2024 at 1:11 AM
353,000 new jobs added in January
February 2, 2024 at 7:39 PM

US economy adds staggering 353,000 jobs in January

The unemployment rate held steady at 3.7%, according to the U.S. Bureau of Labor Statistics.
February 2, 2024 at 7:39 PM
US economy adds staggering 353,000 jobs in January
February 2, 2024 at 5:28 PM

What the surprisingly strong jobs report means for inflation and interest rates

U.S. employers hired nearly twice as many workers as expected in January.
February 2, 2024 at 5:28 PM
What the 'surprisingly robust' jobs report means for inflation, interest rates
January 31, 2024 at 11:53 PM

Fed leaves interest rates unchanged, delaying anticipated rate cuts

The decision comes days after GDP data rebuked fears of a recession.
January 31, 2024 at 11:53 PM
Fed leaves interest rates unchanged, delaying anticipated rate cuts
January 31, 2024 at 8:12 PM

Federal Reserve leaves interest rates unchanged

The next opportunity for a rate move will take place at a meeting in March.
January 31, 2024 at 8:12 PM
Federal Reserve leaves interest rates unchanged
January 31, 2024 at 4:28 PM

UPS to cut 12,000 jobs

The mass layoffs impact about 2.5% of jobs this year as the company looks to cut costs after what they described as a difficult and disappointing 2023.
January 31, 2024 at 4:28 PM
UPS to cut 12,000 jobs
January 31, 2024 at 4:05 PM

Federal Reserve set to announce interest rate decision

The big question looming over this Fed meeting is not if interest rates will go down, but when.
January 31, 2024 at 4:05 PM
Federal Reserve set to announce interest rate decision
January 31, 2024 at 2:17 PM

Federal Reserve set to announce 1st interest rate decision of 2024

The Fed today is expected to keep rates on hold at their current level, but the central bank has already penciled in three rate cuts this year.
January 31, 2024 at 2:17 PM
Federal Reserve set to announce 1st interest rate decision of 2024
January 31, 2024 at 1:57 AM

UPS to cut 12,000 jobs

The shipping company said most of the cut jobs will come from management and contract positions.
January 31, 2024 at 1:57 AM
UPS to cut 12,000 jobs
January 30, 2024 at 6:02 PM

UPS laying off thousands, Toyota issues warning

UPS announced thousands of layoffs on Tuesday and Toyota is issuing a "do not drive" warning.
January 30, 2024 at 6:02 PM
UPS laying off thousands, Toyota issues warning
January 28, 2024 at 4:57 AM

New report shows inflation cooling even further

Jared Bernstein, chair of the U.S. council of economic advisors, discusses the state of the economy as the latest GDP report indicates a 3.3% growth in the fourth quarter of 2023.
January 28, 2024 at 4:57 AM
New report shows inflation cooling even further
January 27, 2024 at 2:21 AM

By The Numbers: Americans shopping

A look behind the numbers of how Americans are spending their money despite inflation and concerns about the economy.
January 27, 2024 at 2:21 AM
By The Numbers: Americans shopping
January 26, 2024 at 10:32 PM

Treasury Secretary Janet Yellen talks economic growth

A new report found that the country’s GDP, which measures economic output, grew 3.3% in the fourth quarter of 2023, boosting hopes that the U.S. will avoid a recession. Elizabeth Schulze explains.
January 26, 2024 at 10:32 PM
Treasury Secretary Janet Yellen talks economic growth
January 26, 2024 at 8:15 PM

New data shows inflation continues to cool

The data shows more evidence that the economy is likely to avoid a recession.
January 26, 2024 at 8:15 PM
New data shows inflation continues to cool
January 26, 2024 at 6:20 PM

Treasury Secretary Janet Yellen says 2024 is going to be a 'very good' year for the economy

With the economy looming large in the 2024 election, Treasury Secretary Janet Yellen said she sees “no reason” for a recession this year.
January 26, 2024 at 6:20 PM
Treasury Secretary says 2024 is going to be a 'very good' year for the economy
January 26, 2024 at 1:56 PM

Yellen says 2024 is going to be a 'very good year’ for economy

"I think 2024 is going to be a very good economic year. That said, there are always risks," Treasury Secretary Janet Yellen told ABC News correspondent Elizabeth Schulze.
January 26, 2024 at 1:56 PM
Yellen says 2024 is going to be a 'very good year’ for economy
January 26, 2024 at 1:17 PM

Biden credits Americans for strong economy, touts his legislative wins for 'turning the economy around'

President Joe Biden on Thursday continued to praise the recent GDP report and he gave credit to Americans for an economy that has exceeded expectations.
January 26, 2024 at 1:17 PM
Biden credits Americans for strong economy, touts his legislative wins
1 month ago

Treasury Sec. Yellen says 2024 will be good for the economy

ABC News' Elizabeth Schulze sat down for an exclusive interview with U.S. Treasury Secretary Janet Yellen to discuss the economy, inflation, and her thoughts on the upcoming election.
1 month ago
Treasury Sec. Yellen says 2024 will be good for the economy
1 month ago

What can the new GDP report tell you about the strength of the American economy?

ABC News business reporter Alexis Christoforous digs into new data showing economy growth toward the end of 2023.
1 month ago
What can the new GDP report tell you about the strength of the American economy?
1 month ago

New GDP report exceeds expectations

The new GDP report shows the economy’s continued growth over the last quarter, but Americans' credit card debit has climbed.
1 month ago
New GDP report exceeds expectations
1 month ago

Tesla stock plummets more than 10% after earnings miss expectations

Tesla also warned of sluggish production in 2024.
1 month ago
Tesla stock plummets more than 10% after earnings miss expectations
1 month ago

Tips for cashing Treasury bonds and filing taxes for Social Security recipients

Business reporter Alexis Christoforous answers your questions on Treasury savings bonds and Social Security taxes.
1 month ago
Tips for cashing Treasury bonds and filing taxes for Social Security recipients
1 month ago

Federal Reserve looks to find solution to drop interest rates this year

Plus, Ring announces it will stop allowing police departments to request doorbell camera footage from users, and Tesla's reported earnings and missed expectations warrant slowdown in 2024.
1 month ago
Federal Reserve looks to find solution to drop interest rates this year
1 month ago

US economy exceeds expectations in latest quarter, boosting hopes for avoiding recession

Gross domestic product, adjusted for inflation, grew at a 3.3% annual rate.
1 month ago
US economy exceeds expectations, boosting hopes for avoiding recession
1 month ago

Dow closes above 38,000 for 1st time, setting record high

The S&P 500 also reached a record high on Monday.
1 month ago
Dow closes above 38,000 for 1st time, setting record high
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