There were 229,000 new jobless claims for the week ending June 11, down slightly from an upwardly revised 232,000 in the prior week.

Retail sales dropped by 0.3% in May, a decline from a downwardly revised 0.7% increase in April, the U.S. Census Bureau reported on Wednesday.

The Federal Reserve lifted its federal funds policy rate to a range between 1.5% and 1.75% on Wednesday as it moves to restore price stability over the medium term.

The report adds pressure on the Federal Reserve, which is considering more aggressive measures to tame inflation.

The headline consumer sentiment index from the University of Michigan dropped to 50.2, the lowest on record.

Inflation continued to broaden out across the American economy in May, rising by 8.6% annually and underscoring the urgency among central bankers to restore price stability through an increase in the federal funds rate and a drawdown in its $8.9 trillion balance sheet.

The embargo on Russian energy supplies poses serious long-term challenges for the European Union.

The impact of global market forces like the war in Ukraine and OPEC far outweighs whatever influence retailers or refiners have on the prices that consumers pay…

New claims for jobless benefits increased by 27,000 to 229,000 for the week ending June 4, from an upwardly revised 202,000 in the prior week.