John Carney

John Carney

Articles by John Carney

Fitch Downgrades U.S. Credit Rating

“The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden,” Fitch said Tuesday.

Democratic presidential candidate, former Vice President Joe Biden calls potential caucus-goers during a visit to a campaign field office, Saturday, Jan. 4, 2020, in Waterloo, Iowa. (AP Photo/Patrick Semansky)

PCE Inflation Cools To Slowest Pace in Two Years

Inflation continued to cool in June but remains above the Federal Reserve’s target. The personal consumption expenditures price index was up 0.2 percent compared with a month ago, a slight pickup in prices compared with the 0.1 percent increase in

Federal Reserve Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board building in Washington, Wednesday, July 27, 2022. (AP Photo/Manuel Balce Ceneta)

Growth Explosion: GDP Rose 2.4% Despite Fed Tightening

The pace of growth of the U.S. economy picked up in the spring despite the Federal Reserve’s attempt to slow things down. Gross domestic product rose at a 2.4 percent annualized rate in the April through June period, the government said

Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Federal Reserve officials this week gave their clearest signal yet that they're willing to tolerate a recession as the necessary trade-off for regaining control of inflation. Photographer: Al …