ABC Business

Starbucks to lay off 900 workers, close stores

Thursday, September 25 by ABC News

(NEW YORK) -- Coffee giant Starbucks will lay off workers and close stores as part of a $1 billion restructuring plan, CEO Brian Niccol said in a memo to employees on Thursday.The company will slash 900 employees at its stores in North America, Niccol... Read More.

Fed Chair Powell says rising inflation and slow hiring pose ‘challenging situation’

Tuesday, September 23 by ABC News

(WASHINGTON) -- Federal Reserve Chair Jerome Powell warned a recent uptick of inflation, alongside a hiring slowdown, poses a "challenging situation" for central bankers as they aim to steer the U.S. economy through a "turbulent period."The Fed, which opted to cut interest rates last... Read More.

Fed to set interest rates as Trump seeks shakeup of top officials

Wednesday, September 17 by ABC News

(NEW YORK) -- The Federal Reserve on Wednesday is set to unveil its latest decision on the level of interest rates, hoping to guide the economy through a topsy-turvy stretch of slow hiring and rising inflation.The high-stakes announcement marks a flashpoint in the monthslong... Read More.

Trump races to reshape Fed days before interest rate decision

Monday, September 15 by ABC News

(WASHINGTON) -- Twelve policymakers at the Federal Reserve are set to take a high-stakes vote this week on the nation's benchmark interest rate, attempting to steer the economy through a stormy bout of slow hiring and rising inflation.In a highly unusual circumstance, however, two... Read More.

Mortgage rates are falling fast. Is it a good time to buy a home?

Saturday, September 13 by ABC News

(NEW YORK) -- Mortgage rates have fallen rapidly in recent months, offering homebuyers an opportunity for some borrowing relief if they move ahead with the big-ticket purchase.The average interest rate on a 30-year fixed mortgage stands at 6.35%, dropping from 6.5% over the week... Read More.

Inflation climbed in August as Trump’s tariffs intensified

Thursday, September 11 by ABC News

(NEW YORK) -- Consumer prices rose 2.9% in August compared to a year ago, marking an uptick in price increases as President Donald Trump's tariff policy intensified. The reading matched economists' expectations.The fresh inflation data indicated an acceleration from a 2.7% inflation rate recorded... Read More.

Wholesale prices unexpectedly fall amid Trump’s tariffs

Wednesday, September 10 by ABC News

(NEW YORK) -- Wholesale prices unexpectedly dropped in August, clocking in lower than economists expected and defying concerns about a tariff-induced spike in costs suffered by suppliers.Producer prices fell 0.1% in August, rolling back some of a sharp increase in wholesale prices that took hold... Read More.

US economy added 911,000 fewer jobs than previously reported

Tuesday, September 9 by ABC News

(NEW YORK) -- U.S. employers added far fewer jobs in 2024 and early 2025 than previously thought, indicating the labor market may have been significantly weaker than initial estimates had suggested.The U.S. economy added 911,000 fewer jobs over the 12 months ending in March... Read More.

Why is it hard to find a job right now? Experts weigh in

Monday, September 8 by ABC News

(NEW YORK) -- Employers in nearly every industry have cut back on hiring, according to the latest data, leaving job seekers with fewer places to turn.A recent jobs report extended a lackluster run of labor data that stretches back to the beginning of the... Read More.

Hiring slowdown continues in 1st jobs report since Trump fired commissioner

Friday, September 5 by ABC News

(WASHINGTON) -- Fresh jobs data on Friday showed a continued hiring slowdown in the first such release since a dismal jobs report last month prompted President Donald Trump to fire the top official tasked with compiling labor statistics. The reading fell well short of economists' expectations.The... Read More.