GDP up 2.6% in the third quarter, despite record inflation

Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the third quarter of 2022, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 0.6 percent. The GDP estimate released today is based on source data that are incomplete or subject to […]

Gross Domestic Product shrunk 0.9% in Second Quarter 2022 

WASHINGTON, D.C., July 28, 2022 — Today the Department of Commerce’s Bureau of Economic Analysis (BEA) announced real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022. In the first quarter, real GDP decreased 1.6 percent. Treasury Secretary Janet Yellen in a recent appearance on NBC’s Meet […]

Federal Reserve hikes benchmark interest raising recession fears

WASHINGTON, D.C., July 27, 2022 – The Federal Open Market Committee raised the target range for the federal funds rate by 3/4 percentage point, bringing the target range to 2-1/4 to 2-1/2 percent, Federal Reserve Chairman Jerome Powell announced today. As of June 2022, the federal fund effective rate is 1.52 percent. This is the […]

Money Matters: Buffett and Powell talk inflation

What does it mean when two of the most powerful voices in American financial life seem to be saying two different things? In one corner, we have the “Oracle of Omaha,” investor Warren Buffett. As one of the nation’s richest people and most frequently sought opinions on business matters, he’s a voice that gets a […]