Economy

The U.S. national debt is climbing at a rapid pace, on track to double over the next three decades amid a rush of spending by President Biden and Congress.

The Smithfield and Billingsgate markets have a long history in the city of London, and date back nearly 900 years. They will permanently close in the coming years.

President-elect Trump named economist Kevin Hassett as his choice to serve as the director of the National Economic Council, which helps develop the White House's economic policies.

President-elect Trump's plan to increase tariffs on goods from China and impose them on products from Mexico and Canada would drive inflation up by nearly 1%, Goldman Sachs estimates.

A drop in mortgage rates for the first time in two months has sparked a surge in home purchase applications, breathing new life into the stagnant housing market.

Stock investors have a lot to be thankful for this year as the Dow Jones Industrial Average notches another new record as the post-election celebration continues.

The Federal Aviation Administration is using military airspace specially opened for civilian use to ensure smooth travel during the holiday, officials said.

The Commerce Department released data showing that PCE inflation ticked higher in October, though the Federal Reserve's preferred inflation gauge remained near last month's level.

With the busy holiday shopping season due to begin, here is a list of when some major retailers offering deals will open on Black Friday.

A study measuring the true cost of living found that more than half of American households do not have the resources to pay their bills and have enough money left over for savings.

The conforming loan limit for mortgages backed by Freddie Mac and Fannie Mae will rise by 5.2% next year to over $800,000, the Federal Housing Finance Agency announced Tuesday.

Rising rent costs in New York City have made homeownership nearly impossible. New Yorkers could stretch their dollars to purchase a home elsewhere if they're willing to move.

Chicago Federal Reserve President Austan Goolsbee said the neutral rate is "well below" where it is right now, and policymakers can cut further so long as the economy does not overheat.

California Gov. Gavin Newsom may exclude Tesla and other automakers from an EV rebate program if the incoming Trump administration scraps a federal tax credit for EV purchases.

Kohl's announced that CEO Tom Kingsbury is stepping down in January. He will be replaced by Ashley Buchanan, the current chief executive of arts and crafts retailer Michaels.

Some major restaurants are open on Thanksgiving for those last-minute planners looking to celebrate the holiday without the hassle of cooking.

Walmart was ordered this week by a California jury to pay a former employee nearly $35 million after a jury determined it falsely accused him of committing fraud before firing him.