American wages continued to rise in April, supporting an ongoing increase in consumption in the face of an inflation wave that nonetheless shows signs of waning, according to government data released Friday.

The US government deficit will fall dramatically this year to $1 trillion, down from levels not seen since World War II hit during the pandemic, the Congressional Budget Office said Thursday.

The United States will end an exemption allowing Moscow to pay foreign debt held by American investors with funds held in Russia, the US Treasury said Tuesday, a move that could push Vladimir Putin’s country closer to default.

A recession in the United States is not inevitable, President Joe Biden said Monday, while acknowledging the economic pain experienced by Americans as inflation soars.

Hyundai Motor Group said on Sunday it would invest an additional $5 billion in the United States by 2025 to strengthen collaboration with US firms in advanced technology.

The United States and South Korea have agreed to work more closely on crucial trade and supply-chain issues, the US Commerce Department announced Saturday.

European and Asian markets took a beating Thursday, while the dollar tumbled a day after Wall Street suffered one of its worst batterings in two years over recession fears amid decades-high inflation.

The Biden administration has scotched plans to hold three offshore oil and gas lease sales in Alaska and the Gulf of Mexico, a government spokeswoman said Thursday.

US consumer sentiment slumped to its lowest level in nearly 11 years in early May as worries about inflation persisted, but consumer spending remains underpinned by a strong labor market and massive savings, which should keep the economy expanding.

The United States is preparing a scaled-back version of a trade pact as Southeast Asian nations gather in Washington, where President Joe Biden is seeking to show solid commitment in the face of a rising China.

President Joe Biden on Tuesday acknowledged the pain felt by Americans from the highest inflation in four decades but said it is his  “top domestic priority” and being addressed by the Federal Reserve.

Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent prices soaring ahead of driving season.

The US dollar reached a new 20-year high on Monday as risk-off sentiment stemming in part from concerns over the Federal Reserve’s ability to combat high inflation boosted the greenback’s safe-haven appeal.

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing  “shame” on Russia with his invasion of Ukraine.

The Federal Reserve announced its biggest rate hike since 2000, with a half percentage point increase as it works to crush soaring US inflation.

US and Chinese regulatory officials are in talks to settle a long-running dispute over the auditing compliance of US-listed Chinese firms, three people briefed on the matter told Reuters.

From bars to factories to warehouses, American businesses hired staff with vigor in April as the US economy recovers from the damage done by Covid-19 while grappling with inflation that has hit the highest rate in decades.

US Federal Reserve policymakers look set to deliver a series of aggressive interest rate hikes at least until the summer to deal with hot inflation and surging labour costs, even as two reports Friday showed tentative signs both may be cresting.

Energy prices have surged since the Russian invasion of Ukraine and, along with other commodities, are likely to remain at  “historically high” levels through 2024, endangering economic growth, the World Bank warned Tuesday.

If the wave of inflation gripping the eurozone doesn’t abate, ECB chief Christine Lagarde said on Friday she sees  “a strong likelihood” that the bank will hike rates before 2022 ends.