Inflation Weighed on Consumer Spending Growth in February

Inflation Weighed on Consumer Spending Growth in February

Consumer spending growth, a key engine of the economy, slowed sharply in February, as the Omicron surge of Covid-19 eased and accelerated inflation amid Russia’s invasion of Ukraine. US households boosted their sending at a seasonally adjusted 0.2% pace in February from the month before, down from a revised 2.7% rate in January, when spending … Read more

Job Openings Ease Slightly From Record Highs

Job Openings Ease Slightly From Record Highs

Available jobs fell slightly for the second consecutive month in February after touching a record high late last year, a sign employers are able to fill open positions as the pandemic eases. Job openings are easing as the number of new coronavirus cases continues to fall, potentially freeing up more people to rejoin the workforce. … Read more

Fed Raises Interest Rates for First Time Since 2018

Fed Raises Interest Rates for First Time Since 2018

The Federal Reserve said it would lift interest rates and penciled in a series of further increases this year aimed at stopping the economy from overheating and reducing inflation that is running at its highest levels in four decades. Fed officials said Wednesday they would raise their benchmark federal-funds rate by a quarter percentage point … Read more

Amazon Flagged to Justice Department for Possible Criminal Obstruction of Congress

Amazon Flagged to Justice Department for Possible Criminal Obstruction of Congress

A US congressional committee is asking the Justice Department to investigate Amazon.com Inc. AMZN 1.47% and some of its executives for what lawmakers say is potentially criminal obstruction of Congress, according to people familiar with the matter and a letter containing the request. The letter, dated March 9 and viewed by The Wall Street Journal, … Read more