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Consumers don’t feel confident about the future, according to the consumer confidence index, which is at a six-month low.

Economists have been predicting a recession for months, but the labor market has remained resilient, wage growth is higher than before the pandemic, and inflation continues to drop, now at

Disentangling the many drivers of the trend is difficult, but who we blame for it also shapes what we do about it.

May's Consumer Price Index report came in on par with what economists had expected and likely indicates the Federal Reserve will pause its interest rate hiking cycle on Wednesday.

The last time the United States came perilously close to defaulting on its debt, a Democratic president and a Republican speaker of the House cut a deal to raise the nation’s borrowing limit and tightly restrain some federal spending growth for years to come. The deal averted default, but it hindered what was already a slow recovery from the Great Recession.

Democracynow.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from democracynow.org Daily Mail and Mail on Sunday newspapers.

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US President Joe Biden has finalized a much-criticized deal with Republican Kevin McCarthy, the Speaker of the House of Representatives, on debt ceiling.

With low unemployment and above-trend inflation, the economy is well positioned to absorb the modest budget cuts that President Biden and Republicans negotiated.

With the government on track to reach its borrowing limit within days, negotiators sealed an agreement to raise the debt ceiling for two years while cutting and capping certain federal programs.