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Economy

The Federal Deficit Is Growing. This Is Why.

Evan Harrington

America’s federal budget deficit appears to have roughly doubled over the year to $2 trillion, a surprising jump given the strength of the economy.The deficit is the gap between how…

Economy

Jon Stewart’s Show on Apple Is Ending

Evan Harrington

Jon Stewart’s show on Apple’s streaming service is abruptly coming to an end, according to several people with knowledge of the decision, the result of creative differences between the tech…

Economy

Powell Says Strong Economic Data ‘Could Warrant’ Higher Rates

Evan Harrington

Jerome H. Powell, the chair of the Federal Reserve, reiterated the central bank’s commitment to moving forward “carefully” with further rate moves in a speech on Thursday. But he also…

Economy

Those Doritos Too Expensive? More Stores Offer Their Own Alternatives.

Evan Harrington

The snack chips had become pretty pricey.For years, customers stopping at Casey’s General Stores, a convenience store chain in the Midwest, hadn’t thought twice about snagging a soda and a…

Economy

Rite Aid Is Closing 154 Stores

Evan Harrington

On Sunday, Rite Aid, once the largest U.S. pharmacy chain, filed for bankruptcy court protection from its creditors and vowed to remake the company as a “modern neighborhood pharmacy.”Now, in…

Economy

American Household Wealth Jumped in the Pandemic

Evan Harrington

American families saw the largest jump in their wealth on record between 2019 and 2022, according to Federal Reserve data released on Wednesday, as rising stock indexes, climbing home prices…