Economy
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Everyday Economics: The consumer is still spending, but not out of the woods
Last month, inflation was still too high but some households got a little breathing room.
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Fed's key inflation measure shows highest jump since October 2023
Despite high inflation rates, consumer spending was higher than expected. Personal income also beat forecast.
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As SpaceX shares drop, Elon Musk loses trillionaire status
Shares of SpaceX were down to $155 on Wednesday, and Musk was $6 billion poorer than he'd been when SpaceX debuted earlier this month.
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Fed government revises first-quarter GDP, contraction worse than originally estimated
First estimate was a 1.4% contraction in first-quarter GDP, compared to same quarter in 2021.
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Fed's personal consumption expenditure index indicates inflation still high but down from March high
April PCE number marked first slowdown since November 2020
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Is the U.S. in a recession? Many analysts think so
Former Goldman Sachs CEO Lloyd Blankfein says a recession is “a very, very high risk factor.”
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U.S. gas prices hit another record high
At more than $6 a gallon, gas is the most expensive in California
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Overwhelming majority of Americans want companies to stay away from political advocacy, poll
Companies have increasingly chosen or been pressured to take public political stances on a number of issues in recent years
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Wholesale prices increased in April by 11%, compared to year earlier, feds report
New Labor Department report also shows whole prices in April increased 0.5% since March
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Yellen says outlawing abortion would hurt U.S. economy, 'set women back decades'
Treasury secretary says access to abortion has allowed for higher female labor force participation
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Billionaire duo Ackman, Thiel back new fund to move companies away from 'stakeholder capitalism'
Strive Asset Management is being headed by Vivek Ramaswamy, author of "Woke, Inc."
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April Consumer Price Index up 8.3% year-over-year — above forecasts, but down slightly from March
Forecasters predicted an 8.1% rate.
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U.S. gas prices hit record high
The average price of gas is now $4.37 per gallon.