Economy

It's a hot summer with a labor market to match. The question is no longer "is this a recession," but rather: "Is the job market too hot for the Fed's comfort?"Driving the news: The jobs slowdown economists have been expecting isn't materializing. Rather, the economy added 528,000 jobs in July — the strongest print since February, and double what…

West Virginia Attorney General Patrick Morrisey slams Presidents Biden’s latest effort to combat inflation, the Inflation Reduction Act, calling it ‘deeply disheartening’ on ‘Mornings with Maria.’ Senate Majority Leader Chuck Schumer called 230 economists who are warning that the Inflation Reduction Act is expected to contribute to…

The US housing market appears to be finally cooling off after seeing its least affordable days since the '80s.The number of homes being built and sold is declining, more and more buyers are backing out of deals, and some parts of the country are finally seeing price cuts.Pantheon Macroeconomics founder and chief economist, Ian Shepherdson, has…

Former CKE Restaurants CEO explains the 'positive' July jobs report is hiding a bigger problem in the workforce on 'Cavuto: Coast to Coast.' Despite a much more robust than expected jobs report for July, layoffs are rolling in at a brisk pace at the start of August, with a slew of firms making cuts in the past week. Technology giant Oracle…

As inflation, gas prices and other rising costs have strained people’s wallets, housing has continued to be a challenge for buyers and renters alike. In the past year, the median home price has jumped more than 15 percent, according to data compiled from the St. Louis Federal Reserve. And renters are feeling similar pain: On…

FOX Business' Madison Alworth reports from the Jersey Shore.  The White House is defending the Inflation Reduction Act against a report from the nonpartisan Congressional Budget Office that suggests the legislation will not meaningfully lower inflation in the coming years.  "Could you address the new CBO analysis about the Inflation…

Americans' borrowing grew by 10.5% in June, compared to 6.3% in May, according to the Fed's G.19 consumer credit report. Revolving debt — roughly a proxy for outstanding credit card balances — rose by 16% after an 7.8% increase in May.Non-revolving debt, which includes loans like car loans and student loans, grew by 8.8% after a 5.8% increase in…

On a hot August day, the lobster roll place across from the Axios office beckons temptingly.State of play: Reader, I caved. Doing so cost me $43.74, for a six-ounce sandwich, after tax and tip. Why it matters: Lobster prices are down this year, but lobster roll prices? Not so much. Instead, they increasingly seem to be generated by a random…

NEWYou can now listen to Fox News articles! Fox News' Will Cain exposed legislation that would give the Internal Revenue Service more funding as he guest-hosted Friday on "Tucker Carlson Tonight." WILL CAIN: Buried in the bill is a big giveaway to the Internal Revenue Service. The agency stands to gain $80 billion from this legislation. That…