Coronavirus

According to academic research at The Wharton School of the University of Pennsylvania, available evidence suggests that immigration leads to more innovation, a better educated workforce, greater occupational specialization, better matching of skills with jobs, and higher overall economic productivity. In this Hispanic Heritage NOW report, host Carel Lajara explores the topic with Dr. Ernesto Castaneda, the Director of the Center for Latin American and Latino Studies at American University.

The port strike came to an end within three days, meaning limited impact on the American economy. The work stoppage threatened supply chains, and caused shortages of some consumer goods and supplies needed to keep US factories running. It also temporarily cut off the flow of exports, putting US business sales at risk. As the port strike happened, some communities witnessed "panic buying," similar to what was seen back in 2020. ASU Professor Hitendra Chaturvedi joins LiveNOW from FOX to explore the lasting impacts of the strike, and what could have happened if it lasted any longer.

"The time has come" for the Fed to reduce interest rates, Jerome Powell said Friday in his keynote speech at the Fed’s annual economic conference in Jackson Hole, Wyoming.

In a good sign for homebuyers, the share of available listings that saw a price cut jumped to 18.9% in July – up 3.4% from the same time last year, and the highest level in two years, according to a new report published by Realtor.com. Price cuts are atypical in July, which is usually a peak time for home sales. But this year is different, because sellers are trying to lure back lukewarm buyers who are facing both high costs and steep interest rates.

Vice President Kamala Harris promised to eliminate taxes on tips, two months after former President Trump promised to do the same. Their rare point of agreement underscores the bipartisan popularity of the novel piece of economic policy.

The Dow Jones Industrial Average pulled back more than 1,100 points and the Nasdaq composite slid 5.7%. That followed a 12.4% plunge in Japan's Nikkei 225, for its worst day since 1987.

U.S. stocks saw their third-straight trading day of heavy declines as recession fears continued to mount and Wall Street abandoned a popular trade that had helped counter high interest rates.

The June jobs report revealed higher than expected job growth, with 206,000 new jobs created. However, a third of those jobs were in the government sector.

After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high.

The 303,000 jobs added in March brings up the 2024 average to 276,333 jobs per month. That's more than what was seen last year (average of 251,000 jobs) and well above pre-pandemic averages (183,000 from 2010-2019; 125,000 jobs from 1939-2019).

Stocks have been rallying, leaving the Dow Industrials just about 250 points away from the 40,000 milestone. Economist, Michael Szanto, joins LiveNOW from FOX to explain how this affects the Fed rate and your wallet.

Federal Reserve Chair Jerome Powell on Wednesday said policymakers are on track to cut interest rates sometime in 2024, but are not ready to do so until they are confident inflation is tamed.

The U.S. economy grew faster than expected at the end of 2023. Gross domestic product grew by 3.3% in the three-month period from October through December. LiveNOW's Andrew Craft spoke about the health of the economy with Peter C. Earle from AIER.

The Labor Department said that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.3% in December from the previous month, more than expected.