Economy

In Union County, South Carolina, the formerly prosperous cotton mills that once employed numerous residents have vanished. Today, the county is labeled a "food desert," indicating that a significant portion of its inhabitants reside at a distance from the closest supermarket. Addressing this challenge, community non-profit leader Elise Ashby initiated efforts in 2016, working alongside farmers to deliver affordable boxes of fresh fruits and vegetables across the county, where roughly 30% of the citizens are Black and nearly 25% experience poverty.Initially, Ms. Ashby funded the initiative with her personal savings and small grants. However, in 2023, her efforts received a…

In a new update, the Federal Reserve declared its plan to keep the federal funds rate unchanged, pointing to persistent economic uncertainties. This move has sparked criticism from President Donald Trump, who has expressed his dissatisfaction with the central bank's approach to monetary policy.In a recent development, the Federal Reserve announced its decision to maintain the federal funds rate at its current level, citing ongoing economic uncertainties. This decision has elicited criticism from President Donald Trump, who has been vocal about his dissatisfaction with the central bank's monetary policies.During its latest policy gathering, the Federal Reserve decided to maintain the…

In the week concluding on January 25, 2025, the United States noted a significant drop in initial filings for state unemployment aid, with a seasonally adjusted total of 207,000. This marks a decrease of 16,000 from the previous week's consistent level of 223,000. Expectations from economists had suggested a slight decrease to 220,000, making this decline more pronounced than anticipated.Four-Week Rolling AverageThe four-week rolling average, providing a steadier perspective by smoothing out weekly fluctuations, decreased slightly by 1,000 to reach 212,500 from the prior week's unchanged average of 213,500.Insured Jobless Rate and Ongoing ClaimsIn the week concluding on January 18,…

Durante el cuarto trimestre de 2024, el crecimiento económico de Estados Unidos se desaceleró, avanzando a una tasa interanual de 2.3%, una caída respecto al 3.1% registrado en el trimestre anterior. Esta disminución se produjo a pesar de un fuerte gasto de los consumidores, que aumentó a una tasa del 4.2% en ese mismo lapso.El Gasto del Consumidor se Mantiene FirmeConsumer Spending Remains StrongElementos que Contribuyen a la DesaceleraciónFactors Contributing to the SlowdownInversión Empresarial Débil: Se observó una caída notable en el gasto empresarial, especialmente en maquinaria e infraestructura, lo cual limitó la expansión económica en general.Déficit Comercial en Aumento:…