WASHINGTON, United States— The US economy saw “modest” growth over the summer as consumers kept the wheels turning by dipping
The US economy has shown signs of resiliency in recent months despite an aggressive campaign of interest rate hikes by the Fed to tackle high inflation.
In its regular report on economic conditions known as the “beige book,” the Fed indicated that positive economic news could soon come to an end, along with consumer savings accumulated during the pandemic. Spending on tourism helped balance out a slowdown in other non-essential retail spending, as some Fed districts suggested that “consumers may have exhausted their savings and are relying more on borrowing.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
N. Korea to pay ‘price’ if it gives Russia arms: USWashington, United States - The White House warned Tuesday that North Korea would 'pay a price' if it supplies Russia
Read more »
PBBM calls for ASEAN ‘united voice’ during COP28 to contain climate changePresident Ferdinand R. Marcos, Jr. called for the Association of Southeast Asian Nations (ASEAN) to have a united voice during 28th meeting of the United Nations' annual conference on climate change (COP28) in demanding for climate action. The chief executive said the joint initiative will raise the chances for developed…
Read more »
United Nations called for strict rules, age limits on AI tools in classroomsPARIS, France—The United Nations called on Thursday for strict rules on the use of AI tools such as viral chatbot
Read more »
It's official: Joe Jonas files for divorce from Sophie Turner after 4 years of marriageThe petition for divorce states that 'the marriage is irretrievably broken'
Read more »
Defending WPS from interlopersApart from joint military exercises with Australia, Japan and the United States, the Marcos administration is stepping up efforts to
Read more »
Far-right Proud Boys leader gets 22 years for US Congress attackWASHINGTON, United States -- Enrique Tarrio, the former leader of the far-right Proud Boys militia, was sentenced to 22 years in prison on Tuesday for his role in the January 6, 2021 attack on the US Capitol, the stiffest sentence handed out so far.
Read more »