Prices for gas, food and rent are soaring. The Federal Reserve has raised interest rates to the highest level since 2018. The U.S. economy has shrunk for two straight quarters.
Facing a potentially grim report this week on the economy’s overall health, President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession.
The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.
Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs.
By one common definition, the U.S. economy is on the cusp of a recession. Yet that definition isn’t the one that counts. On Thursday, when the government estimates the gross domestic product for the April-June period, some economists think it may show that the economy shrank for a second straight quarter. That would meet a longstanding assumption for when a recession has begun.
Five major U.S. cities and the state of California will receive federal help to get unsheltered residents into permanent housing under a new plan launched Thursday as part of the Biden administration’s larger goal to reduce homelessness 25% by 2025.
Los Angeles County has two months to move about 300 young people out of its troubled juvenile halls after California regulators on Tuesday determined the facilities are “unsuitable for the confinement of youth.”
On May 23, 2023, a Southwest Station School Resource Deputy began an investigation into a possible kidnapping that occurred in the 38000 block of Camarada Lane, in unincorporated Murrieta, after he received information that a video of the incident was posted to social media.
About 10% of people appear to suffer long COVID after an omicron infection, a lower estimate than earlier in the pandemic, according to a study of nearly 10,000 Americans that aims to help unravel the mysterious condition.