Powell Says Inflation Will Be ‘Elevated’ in Coming Months
Federal Reserve Chair Jerome Powell says that inflation “will likely remain elevated in coming months” before “moderating,” an apparent acknowledgement that price gains have been larger and more persistent than many economists forecast. In written testimony to be...
Construction Spending Fell in May as Housing Slowed
U.S. construction spending fell 0.3 percent in May. Growth in housing, the economy’s standout performer, slowed while activity in areas most directly impacted by the pandemic showed further weakness. The Commerce Department reported last week that the May decline...
Survey: Business Economists See Full Recovery by End of 2021
The U.S. economy’s growth is likely slowing as 2020 comes to a close, but a growing number of economists expect it to claw back to its pre-pandemic strength by the second half of next year as vaccines for the coronavirus become widely distributed. That’s the view from...
How Long Will America Be Fighting the Coronavirus?
In a matter of days, millions of Americans have seen their lives upended by measures to curb the spread of the new coronavirus. Normally bustling streets are deserted as families hunker down in their homes. Many of those who do venture out try to stay a safe distance...This Week’s Paper: Digital Edition
