Bitcoin dropped by almost 5% on Monday after a bruising weekend when, at one point, it lost over a fifth of its value. It’s now trading at roughly $49,200, down from about $57,000 at the beginning of December. Traders said the fall was connected to a broad move away from riskier assets in traditional markets…

With only 210,000 jobs added in November, America’s employers saw the slowest hiring pace in nearly a year. In the monthly jobs report, the Labor Department also noted that the unemployment rate dipped from 4.6% to 4.2%, proof that many people reported they had a job. President Joe Biden played up the drop in the…

Update (12/2/21): A day after Federal Reserve Chair Jerome Powell’s two-day campaign to distance himself from the term “transitory” to describe inflation, Treasury Secretary Janet Yellen appeared to do so as well Thursday. Her comments came in an interview at the Reuters Next Conference. “I’m ready to retire the word transitory,” Yellen said. “I can agree…

America’s economy is in a spiral, and lagging consumer confidence is the driving force. It’s showing up as millions of people are quitting their jobs at a record pace. One reason for the great resignation is when you leave a job, you often get a pay hike in the next one. When businesses pay employees…

Federal Reserve Chair Jerome Powell said the Fed will consider acting more quickly to counter rising inflation and Treasury Secretary Janet Yellen reiterated the importance of Congress dealing with the debt ceiling. Their comments came as they testified in front of the Senate Banking Committee Tuesday. The committee hearing came just days before the temporary…

The Department of the Interior released a report Friday on the United States’ “federal oil and gas leasing and permitting practices.” According to the department, “the report identifies significant reforms that should be made to ensure the programs provide a fair return to taxpayers, discourage speculation, hold operators responsible for remediation, and more fully include communities and Tribal, state,…

Dollar Tree announced it has started rolling out a price increase to $1.25 for many items in stores. The change is a sign of the pressures low-cost retailers face holding down prices during a period of rising inflation. “Lifting the one-dollar constraint represents a monumental step for our organization, and we are enthusiastic about the…

Just like most things have been over the past several months, it appears Black Friday deals will also be affected by inflation. According to a blog post from computer software giant Adobe published last month, “U.S. consumers will pay 9 percent more on average during Cyber Week this year, compared to the last holiday season.”…

President Joe Biden nominated Jerome Powell to head the Federal Reserve for a second term. His first term, which began in 2018, has been highlighted by the Fed’s response to the COVID-19 pandemic. “Chair Powell has provided steady leadership during an unprecedently challenging period, including the biggest economic downturn in modern history and attacks on…

The word ‘taper’ has been on the lips of nearly everyone on Wall Street this year. After months of speculation, the Federal Reserve announced it does plan to taper its monthly asset purchases. “It is time to taper, we think, because the economy has achieved substantial further progress toward our goals,” Federal Reserve Chairman Jerome Powell…