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Economy

The U.S. homeownership rate may not be as high as you think

By Julie Z. Weil
Jul 22, 2026 10:49 am - Americans often think of homeownership as both a goal and a norm — after all, the U.S. homeownership rate is 65%, and as high as 75% in some states. But one Federal Reserve economist says that we’ve been measuring homeownership the wrong way and that U.S. adults are about as likely to rent or live in someone else’s home as they are to own their own.
US gas prices back up to an average of $4 a gallon as Iran war heats up

Associated Press
Jul 20, 2026 11:47 am - U.S. gas prices jumped to an average of $4 a gallon again Monday as the U.S. and Iran launched more attacks.
The U.S. saw the first ‘China Shock.’ Now the world gets the sequel.

By David J. Lynch and Joshua Yang
Jul 20, 2026 11:46 am - Twenty-five years ago, low-cost Chinese goods flooded the U.S. market, contributing to the loss of 3 million factory jobs and upending American politics, a phenomenon that came to be known as the “China Shock.” Now a second China Shock is reverberating across Europe, Southeast Asia, Africa and Latin America, raising fears of greater deindustrialization and political tumult.
The Biz Week That Was: Inflation woes, downtown businesses close, and unemployment claims dip

Daily Herald report
Jul 18, 2026 7:55 am - Americans are using credit-card rewards to pay for groceries, gas A pile of credit-card reward points can take you business class to Bali or cover a few days’ stay i...
Americans are using credit-card rewards to pay for groceries, gas

By Josyana Joshua
Jul 16, 2026 3:09 pm - A pile of credit-card reward points can take you business class to Bali or cover a few days’ stay in a London boutique hotel. These days, as inflation strains American budgets, more people say they’re using points for daily essentials, from gasoline to cat litter.
US weekly unemployment claims fall to 208,000, fewest in 10 weeks

By MATT OTT
Jul 16, 2026 7:59 am - Filings for unemployment benefits fell last week to the lowest level in 10 weeks as U.S. layoffs remain historically low.
Inflation cools more than expected in June as gas costs fall, underlying prices ease

By CHRISTOPHER RUGABER
Jul 14, 2026 7:11 am - U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also cooled more than expected.
Hundreds of economists say 'we must act now' on AI's economic impact and job displacement risks

Jul 13, 2026 2:05 pm - Hundreds of economists urge immediate action to address AI's potential impact on the economy. In an open letter released Monday, they warn that AI could transform the economy and displace many jobs.
Illinois’ infrastructure investments have made progress, but the job isn’t done

By Frank Manzo IV
Jul 11, 2026 11:41 am - Illinois’ historic investments in infrastructure are now paying real dividends — but the work is far from over.
Why is beef so expensive? And can consumers expect lower prices anytime soon? ‘It’s got to get worse before it gets better.’

By Claire Malon
Jul 10, 2026 2:18 pm - A quick stop at the grocery store, your local hot dog stand or favorite Italian beef spot and you may experience some genuine sticker shock. Almost $8.50 for a pound of g...

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