FTX Bankruptcy Shocks Cryptocurrency Industry
The sudden demise and subsequent bankruptcy of one of the world's largest crypto exchanges is an unprecedented failure of oversight.
Meta Announces Massive Layoffs amid Weak Earnings
Faced with declining sales and a falling stock price, Facebook's parent company begins laying off over 11,000 employees.
US Labor Market Remains Strong while Economy Cools
Employers added 261,000 jobs in October, which exceeded expectations but also showed a softening of the labor market as economy slows down.
US GDP Grows during Third Quarter of the Year
Following two quarters of economic restriction, the nation's Gross Domestic Product increased by 2.6% amid higher interest rates and inflation.
Oil Companies Report Record Profits while Tech Industry Struggles
US and European oil companies continue their string of windfall profits while tech-based businesses report dismal earnings as they grapple with a slowing economy.
US Annual Deficit Cut in Half while Risks Continue from Slowing Economy
Largely due to the expiration of pandemic-era spending, the country's annual deficit falls by $1.4 trillion from the year before as rising interest rates and a slowing economy bring uncertainty.
Consumer Spending Stalls as Inflation Hits New Highs
US retail sales were stagnant in September while consumer prices remain at a 40-year high.
US Consumers and Companies Continue to Spend Despite High Inflation
Unique market and labor conditions sustain consumer and business spending while inflation and recession pressures weigh on the US economy.
Fed Raises Benchmark Interest Rate Again to Continue Fight Against Inflation
Weighing the risks of persistent inflation with the danger of a recession, the Fed decides to again raise interest rates to slow the US economy.
Inflation Dips Only Slightly in August while Mortgage Rates Exceed 6% in a First Since 2008
According to last month's Consumer Price Index report, inflation remains high at 8.3% as mortgage rates move above 6% for the first time since the 2008 financial crisis.
