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

Consumer sentiment improved in July, despite Trump's tariff threats

The U.S. economy has largely defied economists' fears of a tariff-induced slowdown.
24 minutes ago
A shopper compares beef prices at a grocery store in Mount Prospect, Ill., July 17, 2025.
July 17, 2025 at 1:21 PM

US applications for jobless benefits fall again, hitting lowest level since April

The number of Americans filing for unemployment benefits fell last week to the lowest level in three months, a sign that the U.S. labor market remains sturdy despite fears over the impact of widespread U.S. tariffs
July 17, 2025 at 1:21 PM
A now hiring and help wanted sign is posted in Morrisville, Pa., Monday, June 9, 2025. (AP Photo/Matt Rourke)
July 17, 2025 at 1:19 PM

Retail sales up a surprising 0.6% in June after a May pullback by consumers

After an earlier pullback, consumers picked up their spending in June showing resilience despite anxiety high over tariffs and the U.S. economy
July 17, 2025 at 1:19 PM
FILE - Shoppers leave Macy's in Boston, Nov. 29, 2019. (AP Photo/Michael Dwyer, file)
July 16, 2025 at 5:31 PM

Trump says it's 'highly unlikely' he'll fire Fed's Powell

"So he's doing a lousy job," Trump said. "But no, I'm not talking about that. Fortunately, we get to make a change in the next one to eight months or so, and, we'll pick somebody that's good."
July 16, 2025 at 5:31 PM
VIDEO:  Trump says it's 'highly unlikely' he'll fire Fed's Powell
July 16, 2025 at 3:55 PM

Consumer prices on the rise

New numbers on inflation show an increase in June of 2.7% from a year ago which raises questions about the potential impact of Trump's tariffs on the cost of living.
July 16, 2025 at 3:55 PM
VIDEO: Consumer prices on the rise
July 15, 2025 at 11:18 PM

Inflation surged in June amid tariffs as Trump declared 'inflation is dead'

Consumer prices rose 2.7% in June compared to a year ago, marking a notable surge of price increases as President Donald Trump's tariff policy took hold.
July 15, 2025 at 11:18 PM
VIDEO: Inflation surged in June amid tariffs as Trump declared 'inflation is dead'
July 15, 2025 at 11:17 PM

Inflation up 2.7% in June compared to last year

KPMG chief economist Diane Swonk breaks down the new June inflation report and dives into why prices increased even after President Donald Trump declared “inflation is dead.”
July 15, 2025 at 11:17 PM
VIDEO: Inflation up 2.7% in June compared to last year
July 15, 2025 at 3:57 PM

Inflation surged in June amid tariffs as Trump declared 'inflation is dead'

A fresh report on Tuesday marked two consecutive months of rising inflation.
July 15, 2025 at 3:57 PM
A person shops in a stag apparel store on June 17, 2025 in Austin, Texas.
July 15, 2025 at 3:02 PM

Inflation surged in June as Trump's tariffs took hold

A fresh report on Tuesday marked two consecutive months of rising inflation. ABC News' Alexis Christoforous reports.
July 15, 2025 at 3:02 PM
VIDEO: Inflation surged in June as Trump's tariffs took hold
July 15, 2025 at 12:19 PM

JP Morgan posts strong 2nd quarter numbers; Dimon warns of tariff, geopolitical risk

JPMorgan’s second-quarter profit fell to $14.2 billion in second quarter, but the New York bank beat Wall Street expectations
July 15, 2025 at 12:19 PM
The logo for J.P.Morgan appears above a trading post on the floor of the New York Stock Exchange, Thursday, May 1, 2025. (AP Photo/Richard Drew, File)
July 14, 2025 at 10:14 AM

US manufacturers are stuck in a rut despite subsidies and protection from Trump

Democratic President Joe Biden handed out subsidies to chipmakers and electric vehicle manufacturers
July 14, 2025 at 10:14 AM
FILE - President Donald Trump talks to workers as he tours U.S. Steel Corporation's Mon Valley Works-Irvin plant, Friday, May 30, 2025, in West Mifflin, Pa. (AP Photo/Julia Demaree Nikhinson, File)
July 12, 2025 at 2:12 AM

Ferrero to buy Froot Loops maker WK Kellogg in $3.1 billion deal

Ferrero, the European confectionery giant behind Nutella and Ferrero Rocher, is set to acquire WK Kellogg Co., the maker of classic American cereals, according to a press release issued Thursday.
July 12, 2025 at 2:12 AM
VIDEO: Ferrero to buy Froot Loops maker WK Kellogg in $3.1 billion deal
July 12, 2025 at 2:14 AM

State Department laying off more than 1,300 employees

The State Department is laying off 1,107 civil service employees and 246 foreign service officers with domestic assignments, according to internal department communication reviewed by ABC News.
July 12, 2025 at 2:14 AM
VIDEO: State Department laying off more than 1,300 employees
July 12, 2025 at 12:37 AM

State Department lays off more than 1,300 employees

The Trump administration has moved forward to cut federal workforce as critics warn the cuts will jeopardize national security.
July 12, 2025 at 12:37 AM
VIDEO: State Department lays off more than 1,300 employees
July 11, 2025 at 6:14 AM

These prices could rise after Trump's new tariffs

Trump issued a flurry of tariffs on dozens of countries in recent days.
July 11, 2025 at 6:14 AM
In this May 16, 2025, file photo, shoppers try on shoes at a Footlocker store in New York.
July 9, 2025 at 2:42 PM

Chipmaker Nvidia becomes most valuable company in the world at $4 trillion

Chipmaker Nvidia became the first public company to top $4 trillion in value on Wednesday after two-year investor frenzy
July 9, 2025 at 2:42 PM
Nvidia CEO Jensen Huang attends a round table discussion at the VivaTech fair dedicated to innovation and startups in Paris, Wednesday, June 11, 2025. (Sarah Meyssonnier/Pool via AP)
July 8, 2025 at 6:02 PM

How have prices changed under Trump? Experts explain.

Inflation is hovering near its lowest level since 2021.
July 8, 2025 at 6:02 PM
Groceries are seen at a Walmart supermarket in Houston, Texas, on May 15, 2025.
July 6, 2025 at 5:19 PM

CBO says megabill could add $3.4 trillion to debt over 10 years

On “This Week,” ABC News’ Senior White House Correspondent Selina Wang reports on the economic impact of the new tax and spending bill.
July 6, 2025 at 5:19 PM
VIDEO: CBO says megabill could add $3.4 trillion to debt over 10 years
July 4, 2025 at 7:26 PM

Why some economists say the deficit increase in Trump’s bill is dangerous

The CBO says it would add $3.4 trillion to the deficit over the next decade.
July 4, 2025 at 7:26 PM
President Donald Trump arrives for a rally to kick off the July Fourth holiday weekend at the Iowa State Fairgrounds on July 3, 2025, in Des Moines, Iowa.
July 2, 2025 at 11:28 PM

US dollar is off to its worst start in 50 years. Here's why that matters for you.

A weaker dollar will impact everyday purchases and travel abroad, analysts said.
July 2, 2025 at 11:28 PM
A weaker dollar will impact everyday purchases and travel abroad, analysts said.
July 2, 2025 at 11:17 PM

US dollar is off to its worst start in 50 years. Here's why that matters for you.

A weaker dollar will impact everyday purchases and travel abroad, analysts said.
July 2, 2025 at 11:17 PM
A sheet of freshly printed one dollar bills is ready for inspection at the Bureau of Engraving and Printing, March 24, 2015, in Washington, D.C.
July 2, 2025 at 9:39 PM

How Trump's megabill would impact SNAP, nation's most vulnerable Americans

Chefs, food equality advocates and nonprofit leaders rally against Trump's megabill that would slash SNAP funding for the nation's most vulnerable.
July 2, 2025 at 9:39 PM
A sign on a door in the frozen food aisle, "We accept SNAP food stamp cards" at a Walgreens in New York, March 30, 2024.
July 2, 2025 at 7:12 PM

Waffle House drops surcharge on eggs after nearly 5 months

Waffle House announced it will no longer have a 50 cent per egg surcharge after establishing the fee during the bird flu shortage in February.
July 2, 2025 at 7:12 PM
Waffle House announced it will no longer have a 50 cent per egg surcharge after establishing the fee during the bird flu shortage in February.
July 1, 2025 at 6:57 PM

Fed chair open to rate cut amid Trump pressure

President Trump has repeatedly urged Fed Chair Jerome Powell to slash interest rates.
July 1, 2025 at 6:57 PM
Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled "The Semiannual Monetary Policy Report to the Congress," in Dirksen building, June 25, 2025.
July 1, 2025 at 1:37 AM

Trump sent handwritten note to Powell calling for lower interest rates

During Monday’s briefing, press secretary Karoline Leavitt held up the note to reporters, which appeared to have been written by President Donald Trump using his signature black Sharpie.
July 1, 2025 at 1:37 AM
During Monday’s briefing, press secretary Karoline Leavitt held up the note to reporters, which appeared to have been written by President Donald Trump using his signature black Sharpie.
June 30, 2025 at 5:16 PM

Economy going back to ‘pre-pandemic days’: Analyst

Bankrate senior economic analyst Mark Hamrick explains why a “cooler” job market doesn’t mean the U.S. economy is “stalling out.”
June 30, 2025 at 5:16 PM
VIDEO: Economy going back to ‘pre-pandemic days’: Analyst
June 29, 2025 at 11:20 PM

How the Big Beautiful Bill will hit your wallet

As Trump’s ‘Big Beautiful Bill’ moves forward, Brendan Duke, senior director for federal budget policy at the Center on Budget and Policy Priorities, breaks down who benefits and who loses out.
June 29, 2025 at 11:20 PM
VIDEO:
June 28, 2025 at 11:36 PM

Finding a new job when times are tight

Leadership coach Kim Meninger joins ABC News Live to discuss navigating the desire to leave your job amid fears about the economy and layoffs.
June 28, 2025 at 11:36 PM
VIDEO: Finding a new job when times are tight
June 27, 2025 at 12:31 PM

Nike warns Trump tariffs could cost nearly $1 billion

Nike warned on its post-earnings call that if President Donald Trump’s tariff policies were to remain at their current level, they could cost the company nearly $1 billion.
June 27, 2025 at 12:31 PM
VIDEO: Nike warns Trump tariffs could cost nearly $1 billion
June 27, 2025 at 12:31 PM

How a weaker US dollar could impact your international travel plans

A weaker U.S. dollar in some destinations could mean less favorable foreign exchange rates and a big impact on the overall cost of your trip.
June 27, 2025 at 12:31 PM
VIDEO: How a weaker US dollar could impact your international travel plans
June 26, 2025 at 4:20 PM

Tariffs ‘likely to increase’ inflation, former Labor Secretary Robert Reich says

Former Labor Secretary Robert Reich and filmmaker Elliot Kirschner highlight their new documentary, “The Last Class,” and Reich discusses the current state of the U.S. economy.
June 26, 2025 at 4:20 PM
VIDEO: Tariffs ‘likely to increase’ inflation, former Labor Secretary Robert Reich says
June 26, 2025 at 2:50 PM

Young people face toughest job market in years

"GMA" takes a look at the challenges facing recent college grads, as many struggle to land their first job amid a tough job market, according to the latest unemployment report.
June 26, 2025 at 2:50 PM
VIDEO: Young people face toughest job market in years
June 25, 2025 at 4:16 PM

Fed Chair Powell testifies before Senate Banking Committee

ABC News’ Alexis Christoforous reports on the second day of testimony from Federal Reserve Chair Jerome Powell, and the likelihood of a cut in interest rates.
June 25, 2025 at 4:16 PM
VIDEO: Fed Chair Powell testifies before Senate Banking Committee
June 25, 2025 at 2:40 PM

Majority of workers think ‘stable full-time job’ is a myth: Report

New data shows unfavorable opinions of the 9-to-5 workday, with fewer workers interested in taking leadership roles.
June 25, 2025 at 2:40 PM
New data shows unfavorable opinions of the 9-to-5 workday, with fewer workers interested in taking leadership roles.
June 24, 2025 at 2:50 PM

Consumer confidence sours, despite rollback of Trump's tariffs

Some major retailers have warned of price increases.
June 24, 2025 at 2:50 PM
A person shops in a stag apparel store on June 17, 2025 in Austin, Texas.
June 23, 2025 at 8:03 PM

Oil prices expected to rise following strikes on Iran's nuclear facilities

Kpler's lead oil analyst Matt Smith breaks down the impact on oil prices following the growing conflict in the Middle East.
June 23, 2025 at 8:03 PM
VIDEO: Oil prices expected to rise following strikes on Iran's nuclear facilities
June 23, 2025 at 4:07 PM

How Iran’s possible closure of Strait of Hormuz could impact gas prices

GasBuddy's Patrick De Haan discusses how gas prices could rise within the coming days as the conflict between the U.S. and Iran grows.
June 23, 2025 at 4:07 PM
VIDEO: How Iran’s possible closure of Strait of Hormuz could impact gas prices
June 23, 2025 at 2:06 PM

What the Iran conflict could mean for oil and gas prices

"GMA" looks at how the conflict in Iran could impact oil and gas prices in the U.S. and around the world.
June 23, 2025 at 2:06 PM
VIDEO: What the Iran conflict could mean for oil and gas prices
1 month ago

Oil prices expected to rise after strikes

Robert McNally, founder and president of Rapidan Energy Group, discusses Iran’s approval of Strait of Hormuz closure.
1 month ago
VIDEO: Oil prices expected to rise after strikes
1 month ago

What it takes to start a business in this economy

Feather & Bone skincare founder Shubhangini Prakash joins ABC News Live to share her experience launching a business and offer advice for entrepreneurs.
1 month ago
VIDEO: What it takes to start a business in this economy
1 month ago

Israel-Iran conflict expected to hike US gas prices, experts say

Gas Buddy's Patrick De Haan discusses how U.S. gas prices could rise within the coming days as the conflict between Israel and Iran continues.
1 month ago
VIDEO: Israel-Iran conflict expected to hike US gas prices, experts say
1 month ago

As US gas prices rise amid Israel-Iran conflict, here’s how you can save

The cost of crude oil is up nearly 10% since Israel’s initial strike on Iran last Friday. ABC News’ Alexis Christoforous reports.
1 month ago
VIDEO: As US gas prices rise amid Israel-Iran conflict, here’s how you can save
1 month ago

How much could US gas prices rise amid Israel-Iran conflict?

US gas prices could rise within days, industry analysts said.
1 month ago
Smoke rises following the Israeli strikes, in Kermanshah, Iran, June 13, 2025.
1 month ago

Gas prices rise amid rising tensions in Middle East

The cost of crude oil is up nearly 10% since Israel’s strike on Iran. ABC News Chief Business Correspondent Rebecca Jarvis tracks where prices are going and how you can save.
1 month ago
VIDEO: Gas prices rise amid rising tensions in Middle East
1 month ago

Social Security may run dry earlier than previously anticipated, trustees say

Social Security and Medicare could face automatic cuts in 2033, a report found.
1 month ago
Two people enter a Social Security Administration office in St. Clair Shores, Mich., March 7, 2025.
1 month ago

Fed holds interest rates steady, defying Trump

The Fed has pursued a patient approach as it awaits the effects of tariffs.
1 month ago
A view from the United States Federal Reserve Building in Washington D.C., June 14, 2023.
1 month ago

Fed holds interest rates steady, defying Trump

The Federal Reserve held its benchmark interest rate steady on Wednesday, continuing a wait-and-see approach adopted by the central bank in recent months as it observes potential effects of tariffs.
1 month ago
VIDEO: Fed holds interest rates steady, defying Trump
1 month ago

Trump slams Fed Chair Powell as 'stupid person' ahead of rate decision

President Donald Trump criticized Federal Reserve Chairman Jerome Powell as he spoke with reporters outside the White House on Wednesday morning.
1 month ago
President Donald Trump criticized Federal Reserve Chairman Jerome Powell as he spoke with reporters outside the White House on Wednesday morning.
1 month ago

‘No rate cut’ at Fed meeting, financial analyst predicts

Bankrate’s Greg McBride explains the economic scenarios that could prompt a cut in interest rates by the Federal Reserve.
1 month ago
VIDEO: ‘No rate cut’ at Fed meeting, financial analyst predicts
1 month ago

Stocks close higher, despite intensifying Israel-Iran conflict

Oil prices fell and stocks closed higher on Monday, indicating optimism among investors about the limits of economic fallout from the ongoing Israel-Iran conflict.
1 month ago
A trader works on the floor of the New York Stock Exchange at the opening bell, June 13, 2025, in New York City.