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Ian’s aftermath even harder to fix with supply chain in tatters

The storm is expected to cause some $60 billion to $100 billion in damage, and construction groups warn that labor shortages and supply-chain difficulties may hamper rebuilding efforts.

Wall Street’s drop resumes as specter of economic slump hangs over markets

The backdrop for Thursday’s selling was the same as it has been for weeks: Investors fear a recession as central bankers take a hard line against inflation, looking to cool the economy by raising interest rates.

How do we know when a recession has begun?

Defining a recession is complicated in a post-pandemic economy in which growth is negative but the job market is strong.

Wall Street remains unsteady after a painful stretch for investors

The last time the S&P 500 recorded a drop for this many days was in February 2020, when investors were shaken at the beginning of the coronavirus pandemic.

Gun violence costs the US $557 billion a year
Harvard Medical School researchers found that gun violence costs the US some $557 billion annually, or 2.6% of gross domestic product, according to the peer-reviewed study published in the journal JAMA.

White House plan to relieve student loan debt costs $400 billion, per CBO
The new estimate will fuel the debate over President Biden's student debt decision, which was cheered by advocates but immediately assailed by Republican lawmakers as an inefficient waste of government spending.

Latest Headlines in Economy

Larry Edelman

Meet the new Boston Fed boss

In her first public comments since taking over in July, Susan M. Collins says, “I do believe the goal of a more modest slowdown, while challenging, is achievable.”

Powell says economy may be entering ‘new normal’ after pandemic

Powell and his colleagues are moving rapidly to reduce the highest inflation in nearly 40 years after being slow to spot the threat of broadening price pressures.

Dow hits 2022 low as markets sell off on recession fears

The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020, and the S&P 500 fell 1.7%, close to its 2022 low set in mid-June.

Oil prices tumble to their lowest level since January

Oil prices had been rising for the better part of the past 12 months, and accelerated sharply when Russia invaded Ukraine in February.

LARRY EDELMAN

Fed’s outlook darkens as it pushes interest rates higher

“We have got to get inflation behind us. I wish there were a painless way to do that. There isn’t,” Fed Chairman Jerome Powell said.

How do we know when a recession has begun?

Given the strength of the job market, most economists say a recession seems months away, at least. But most of them nevertheless think an economic downturn is inevitable.

Stocks sink in wild day after hawkish Fed signals

The S&P 500 ended near session lows — pushing its slide from a January record to more than 20%.

Fed attacks inflation with another big hike and expects more

Intensifying its fight against chronically high inflation, the Federal Reserve raised its key interest rate Wednesday by three-quarters of a point for a third straight time, heightening the risk of an eventual recession.