Economy

Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations.

Consumers saw price relief at the gas pump and grocery store. But housing inflation and other categories, such as car insurance, are trouble spots.

With the unemployment rate low and inflation easing, Trump will inherit an economy primed for growth.

There’s been a significant increase in the share of retirees with credit card debt since 2022, according to the Employee Benefit Research Institute.

The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say.

The rate cut follows a larger half-point reduction in September, and it reflects the Fed’s renewed focus on supporting the job market as well as fighting inflation.

Inventory was 23% higher from September 2023 last month, good news for home buyers as it gives consumers more properties to view before making a decision.

The shortfall was more than 8% from the previous year and the third highest on record, the Treasury Department said Friday.

The consumer price index was expected to show a 0.1% increase in September and a 2.3% gain from a year ago, according to Dow Jones consensus estimates.

Two Democratic lawmakers are demanding that some of the biggest food and beverage companies stop engaging in “shrinkflation” — the practice of reducing product sizes while charging prices that are the same or higher.

U.S. ports from Maine to Texas shut down this week when the union representing about 45,000 dockworkers went on strike for the first time since 1977.

Striking dockworkers and the ports they are picketing could not come to an agreement Wednesday. The International Longshoremen’s Association went on strike just after midnight Tuesday after the expiration of the union’s contract with the ports. The workers are calling for higher wages and protections from automation. With uncertainty over when the strike will end and the economic impacts...

Dockworkers and ports still can’t come to an agreement. Major businesses in Massachusetts are starting to hurt, and soon customers could end up paying for the stalemate. 

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The first thing that’s going to be impacted by the dockworkers strike, experts said, is fresh produce, like bananas, and fresh seafood.

Dockworkers have gone on strike and were walking the picket line in South Boston Tuesday, mirroring shut downs happening at ports along the East Cost and Gulf Coast. The workers are asking for a raise and to not be replaced by automation in the strike that kicked off at midnight on Tuesday. The International Longshoremen’s Association represents 85,000 dockworkers in…

Dockworkers at ports from Maine to Texas began walking picket lines early Tuesday in a strike over wages and automation that could reignite inflation and cause shortages of goods if it goes on more than a few weeks.

Former President Donald Trump has proposed a 60% tariff on goods from China and a 20% tariff on everything else the United States imports.

The Federal Reserve is cutting its interest rate by a half a point, the Committee said Wednesday.

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for consumers.

The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates next week.