According to a recent survey by the New York Federal Reserve, household spending is expected to decrease significantly over the next year. The Survey of Consumer Expectations for April revealed that the outlook for spending had fallen by half a percentage point to an annual rate of 5.2%, the lowest level since September 2021. This
US
Despite concerns over the state of the US economy and instability in the banking sector, US job growth exceeded expectations in April, according to a report by the Labor Department. Nonfarm payrolls increased by 253,000 jobs during the month, surpassing Wall Street estimates of 180,000, while the unemployment rate was 3.4%, compared to an estimate
As investors prepare to attend the Berkshire Hathaway annual shareholders meeting, they can take comfort in owning a stock that not only trades near all-time highs, but also serves as a safe haven during tumultuous times. Berkshire Hathaway has a track record of outperforming the S&P 500 during recessions and bear markets. From 1980, the
Dr. Rochelle Walensky, the director of the Centers for Disease Control and Prevention (CDC), announced her resignation on Friday, effective at the end of June. She did not provide a specific reason for her departure but mentioned that the US is transitioning out of the emergency of the Covid-19 response. In a letter to President
The White House is reportedly considering a short-term extension of the debt ceiling to prevent an economic crisis. According to five sources familiar with the matter, officials are aware of the risk to markets, businesses, and consumers as the June 1st deadline approaches, and while the Biden administration prefers a long-term deal, aides are discussing
Yum Brands, the parent company of KFC, Pizza Hut, and Taco Bell, has reported quarterly earnings that fell slightly short of analysts’ expectations. The company reported net income of $300 million, or $1.05 per share, which is down from $399 million, or $1.36 per share, from the previous year. The company reported earnings per share
The World Meteorological Organization (WMO) has announced that an El Niño climate pattern could occur later this year, which might exacerbate global warming and break temperature records globally. Although the WMO has not predicted the strength or duration of the El Niño, it has forecast a 60% chance of its formation between May and July,
The Supreme Court has agreed to consider a challenge to a regulation affecting fishing vessels that could result in the overturning of a 40-year precedent. The 1984 Chevron v. Natural Resources Defense Council ruling stated that when the language of a statute is ambiguous, federal agencies should be deferred to in their interpretations of the
A group of environmental and cultural heritage nonprofits have filed a lawsuit against the Federal Aviation Administration (FAA), claiming that the agency violated the National Environment Policy Act by allowing SpaceX to launch the largest rocket ever built without conducting a comprehensive environmental review. The lawsuit, filed in a district court in Washington, D.C., alleges
Supreme Court Chief Justice John Roberts has answered additional questions about ethics on the high court. In his response, Roberts revealed that the Supreme Court’s nine justices subscribed to a recently updated “Statement on Ethics Principles and Practices.” This follows revelations that Justice Clarence Thomas had failed to disclose luxurious vacations gifted to him and