Personal income rose 0.3% last month while personal spending rose 0.2%. Spending on goods fell 0.2% while spending on services rose 0.4%. Prices in April were up 2.7% from a year ago, according to the Commerce Department's inflation yardstick, which is closely watched by the Fed.

New claims for unemployment benefits inched up last week. 219,000 people applied for aid -- 3000 more than the week before. As of 11 May, 1.7 million people were receiving some form of jobless assistance.

The US economy grew more slowly in the first three months of the year than first reported. Revised figures from the Commerce Dept. show GDP expanded at an annual rate of 1.3% -- down from 1.6% in the original estimate. The downward revision mostly reflects lower consumer spending

Mortgage rates drop below 7% (barely). Freddie Mac says the average rate on a 30-year fixed-rate home loan this week is 6.94%, down from 7.02% last week.

New applications for unemployment benefits dipped last week. 215,000 people applied for aid -- 8000 fewer than the week before. As of early May, 1.7 million people were receiving some form of jobless assistance.

Want to boss me and my fellow NPR business reporters around? This could be the job for you!

A new Fed survey shows nearly three out of four Americans say they are doing at least OK financially — about the same as last year.

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Federal Reserve Governor Chris Waller gives the latest inflation report a grade of C+, 'far from failing but not stellar either,' and says he's hopeful that progress towards the Fed's goal of 2% inflation is 'back on track.' federalreserve.gov/newsevents/spe…

Biden will name new boss “soon” to lead FDIC

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Mercedes workers in Alabama reject the UAW in latest union vote in the South

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New applications for unemployment benefits fell last week. 222,000 people applied for aid -- 10,000 fewer than the week before. As of late April, 1.7 million people were getting some form of jobless assistance.

The stock market climbs to new record highs as cooling inflation rekindles hopes of interest rate cuts later this year.

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Egg prices tumbled 7.3% in April, as overall grocery prices dropped for the first time in a year. npr.org/2024/05/15/125…

Grocery prices dipped in April as overall inflation cooled

More Americans are falling behind on credit card bills

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In our latest EconoFactOrg podcast I talk with Binyamin Appelbaum Greg Ip Heather Long & scott horsley about the performance and the perceptions of the US #economy and what this might mean for #Elections2024
econofact.org/podcast/the-u-…

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