Scott Horsley

At the start of the year, economists were warning the U.S. was likely headed for a recession, but the U.S. economy has proven remarkably resilient. So what gives?

The federal government's budget gap widened significantly in the first nine months of the fiscal year, as tax receipts slumped and spending increased.

Annual inflation fell to 3% in June, the lowest since March 2021. That probably won't stop the Federal Reserve from raising rates again, but this month's expected hike could be the last.

Consumer inflation hit 3% in June, the lowest since March 2021. Though easing prices will be comforting to the Federal Reserve, inflation is still running higher than the central bank would like.

New numbers out Wednesday are expected to show the inflation rate in June was just over 3%. That's a big improvement from this time last year, when inflation topped 9%.

U.S. employers added 209,000 jobs in June. That's a solid number, but fewer than the month before. Here are the 5 things we took away from the report.

U.S. employers added 209,000 jobs in June, marking another respectable month of job growth, though it was slower than in previous months.

The report marks another solid month of job growth. But the growth was slower than in previous months — an indication that a hot labor market could be cooling.

Treasury Secretary Janet Yellen is on her way to Beijing for talks with her Chinese counterparts. The meeting comes at a tense time, with tit-for-tat trade restrictions and rising strategic frictions.

The pandemic was hard on working women, but they've come roaring back into the labor force. The share of working-age women who have jobs or want one hit an all-time high in May.

As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.

The pandemic was hard on working women, but they've come roaring back into the labor force. The share of working-age women who have jobs or want one hit an all-time high in May.

Inflation has eased - though consumers in the U.S. are still looking for ways to trim expenses.

Spending on travel and entertainment is up, even as Americans contend with stubborn inflation. One reason the economy is doing so well is that people keep spending money.

Federal Reserve chairman Jerome Powell testified before a House committee Wednesday. Meanwhile, a Senate panel reviewed several nominations to the Fed's board of governors, including the first Latina.

After 10 straight rate hikes, the Federal Reserve left interest rates unchanged Wednesday, but hinted that additional rate hikes are possible if inflation remains stubbornly high.

The Federal Reserve will close a policy meeting, with officials expected to leave interest rates unchanged. But future hikes are possible, as the central bank wrestles with stubbornly high inflation.

Falling prices for gas and eggs took some of the sting out of inflation. Consumer prices in May were 4% higher than a year ago. Meanwhile, the Federal Reserve decides what to do with interest rates.

Inflation cooled slightly in May, thanks in part to falling gas and egg prices. But the overall cost of living is still climbing faster than the Federal Reserve would like.

The Labor Department reports Tuesday on May's inflation rate. While inflation has cooled since last summer, prices are still rising faster than the Federal Reserve would like.