The Dow Jones slumped over 600 points as financial troubles at property developer China Evergrande Group became the latest in a growing list of concerns for Wall Street.
Signs of slowdown are everywhere after huge increases in vacation bookings, traveling and eating out earlier this year. Southwest Airlines, Airbnb and restaurants are starting to see a pullback.
Sources tell NPR that the Biden administration is close to announcing its pick to run the Federal Housing Finance Agency, which oversees the $11 trillion mortgage market.
The unemployment rate declined two-tenths of a percentage point last month to 3.5%, lower than the 3.6% jobless rate posted in March 2020, the Georgia Department of Labor reported Thursday. The number of unemployed dropped to about 182,000, also below the pre-pandemic level of 187,000.
Republicans believe the 2022 midterms will hinge on President Biden's handling of the economy. Strategists and campaign officials say voters across the U.S. rank higher prices above all other issues.
Prices have been climbing at the fastest pace in over a decade, as Americans pay more for gas, groceries and other items. The Labor Department issues its latest data for the month of August.
A larger White House campaign is targeting what it calls anti-competitive behavior in several industries, including meatpacking, in which over 80% of beef goes through just four companies.
U.S. Secretary of State Blinken testifies before a Senate panel about Afghanistan. Californians decide Tuesday whether to recall Gov. Newsom. Consumer Prices for August are expected to show a jump.
A key House Democrat released a plan to increase taxes on corporations and top earners to help offset some of the cost of a plan for child care, community college and many other programs.