WASHINGTON: The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said Wednesday in a downgrade from its initial estimate. The government had previously estimated that the economy expanded at a 2.4% annual rate last quarter. … Read more
President Joe Biden is set to sign on Friday an executive order that the White House bills as an effort to target anticompetitive practices in tech, health care and other parts of the economy while boosting workers’ wages and consumer protections. The sweeping order includes 72 actions and recommendations that the White House says “will … Read more
A year ago, prospects for the global economy seemed bleak. Economic activity had come to a screeching halt amidst nation-wide lockdowns and trade disruptions. Industrial output had dipped out of charts and unemployment skyrocketed. The ripple effects caused due to this pause in economic activity were feared to lead into a long-pending recession. However, in … Read more