The Kitsap

US consumer spending fell in May for the first time this year and prior months were revised lower, suggesting an economy on somewhat weaker footing than previously thought amid rapid inflation and Federal Reserve interest-rate hikes. The economy is on recession watch as the Federal Reserve aggressively tightens monetary policy to tackle inflation. For now, […]

The global economy is spooked right now, as ominous clouds hang on the horizon amid warnings we are now “definitely” headed for a recession. Markets have tumbled globally in the past few days – and America’s stock exchange looks to be next in line – because of the latest inflation figures stemming from the US. Released on

Recession is coming The U.S. economy is back in the headlines, with more economists and financial experts warning of an impending recession at some point in the next year. It’s certain that the recession will come eventually. The questions are: when, how will it impact the market, small businesses and are there any reasons to be

US Federal Reserve Chair Jerome Powell sought on Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession.  Testifying to the Senate Banking Committee, Powell faced skeptical questions from members of both

Economists are buzzing about the threat of an impending recession. Their concerns aren’t unfounded. The Federal Reserve cut interest rates this summer for the first time since the 2008 financial crisis, and yield on the 10-year Treasury note dropped below the two-year yield several times in August. That’s not to say a recession is a given. Many economists

It’s clear that the realities many Americans face are vastly different from some of the economic indicators on paper. The burden of record-high inflation has continued to push the limits for people across the country. The costs of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade

Inflation in the US rose unexpectedly last month to a fresh four-decade high of 8.6%, the labor department said on Friday. The latest consumer price index (CPI) figures showed that the cost of living increased by one percentage point from April and was broad-based, with the indexes for shelter, gasoline and food being the largest contributors. Gas

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  Consumers desperate for relief from the scourge of sky-high gasoline prices won’t get it soon — at least, if the latest forecast from Goldman Sachs commodity analysts led by Jeff Currie is on track. In an update to their outlook for oil prices over the next 12-18 months, the team at Goldman warned that

Millions of Americans hit the road over Memorial Day weekend, with record-high gas prices pinching their wallets. The national average price for a gallon of regular unleaded gas hit $4.67 as of Wednesday, according to AAA, $1.63 higher than a year earlier and about 14% above the pre-2022 high of $4.11 set in 2008. Prices