Author: Zachary Halaschak, Washington Examiner

Inflation cooled to a 3% annual rate in October, as measured by the gauge favored by the Federal Reserve, declining 0.4 percentage points from the previous reading. The slowdown in the personal consumption expenditures price index reported Thursday morning by the Bureau of Economic Analysis is some good news as the Fed works to vanquish…

EXCLUSIVE — Gov. Ron DeSantis (R-FL) denounced lawsuits that the Biden Securities and Exchange Commission filed against the cryptocurrency industry and vowed to defend digital assets should he be elected president. Under President Joe Biden, the SEC has gone after crypto companies through several lawsuits. DeSantis told the Washington Examiner this week that his administration…

Economic growth expanded at a 5.2% seasonally adjusted annual rate in the third quarter of this year, the Bureau of Economic Analysis reported Wednesday in an updated estimate of GDP. The GDP numbers, which are adjusted for inflation, represent an upward revision from the initial reading of 4.9% growth. Two more revisions will be made…

More than 200 million consumers shopped over the Thanksgiving weekend, which is a new record, according to the National Retail Federation. Some 200.4 million people went shopping during the five-day holiday weekend that spanned from Thanksgiving to Cyber Monday, according to the NRF’s highly anticipated annual survey. The number exceeded the NRF’s expectations of 182…

Sales of new homes declined in October, showing that the housing market is languishing under the pressure of soaring mortgage rates. New home sales fell 5.6% from September to October to a seasonally adjusted annual rate of 679,000, according to a report Monday from the Census Bureau. GLOOM: CONSUMER SENTIMENT FALLS AND INFLATION EXPECTATIONS RISE…

While shoppers will pour into retail stores across the country this Black Friday, the uptick in spending may be more muted than in past years. Black Friday has traditionally ushered in the start of the frenzied holiday shopping season. Retailers advertise enticing one-day blockbuster deals in order to lure hordes of shoppers to their businesses…

Consumer sentiment fell in November and expectations for inflation rose, a sign that consumers are not feeling great about the economy. The University of Michigan Consumer Sentiment Index plunged to 61.3 in November, down from nearly 64 in October, according to final numbers released Wednesday. EXISTING HOME SALES FALL TO LOWEST LEVEL SINCE 2010 THANKS…

The IRS announced Tuesday it is delaying a controversial new requirement that will require people to report income in excess of $600 paid through apps such as Venmo. The IRS said in a news release that the delay followed an outpouring of feedback from taxpayers and tax professionals. The agency said that as a result…

Binance founder and CEO Changpeng Zhao will reportedly resign from the firm and plead guilty to violating criminal law as part of a deal with the U.S. government. Zhao’s resignation deal includes him pleading guilty to violating U.S. anti-money-laundering law, the Wall Street Journal reported on Tuesday. Binance, the world’s largest cryptocurrency exchange, has also…

Existing home sales once again slowed in October, falling to their lowest level in more than a decade amid higher mortgage rates. Home sales in October slowed 4.1% to a seasonally adjusted annual rate of 3.79 million, the National Association of Realtors reported on Tuesday, as higher mortgage rates priced out many would-be buyers and…