Economy
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Wall Street soars on hopes for lower interest rates as the Dow surges 846 points to a record
Aug 22, 2025 1:31 pm - Wall Street rallied to its best day in months after the head of the Federal Reserve hinted that cuts to interest rates may be on the way. The S&P 500 leaped 1.5% Friday for its first gain in six days and finished just shy of its all-time high set last week. The Dow Jones Industrial Average soared 846 points to its own record after topping its prior high from December. The Nasdaq composite jumped 1.9%. Treasury yields tumbled in the bond market as traders upped their bets that the Fed will cut its main interest rate at its next meeting in September.
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Powell signals Fed may cut rates soon even as inflation risks remainAug 22, 2025 9:14 am - Federal Reserve Chair Jerome Powell on Friday opened the door ever so slightly to lowering a key interest rate in the coming months but gave no hint on the timing of a move and suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy.
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Powell to give his last Jackson Hole speech under watchful gaze of Wall Street and the White House
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Lindt weighs making chocolate bunnies in US as Trump tariffs hit
Aug 17, 2025 11:00 am - Swiss chocolatier Lindt & Spruengli AG may shift production of its world-famous, gold-wrapped Easter bunnies to the U.S. to sidestep import tariffs imposed by the Trump administration.
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Retail sales rise 0.5% in July as some shoppers step up purchases ahead of tariffs
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Libertyville joins most others in enacting local grocery taxAug 14, 2025 8:07 pm - Libertyville will join a majority of communities replacing the state grocery tax with a local version starting Jan. 1.
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Most U.S. stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady
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Oakton College’s Workforce Empowerment Initiative receives nearly $1M grant to expand high-impact training programsAug 14, 2025 11:15 am - Oakton College in Des Plaines has received a $941,241 Illinois Workforce Empowerment Initiative grant to expand career training programs that advance economic mobility for students in high-demand fields.
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U.S. producer prices surge in July as Trump tariffs push costs higher
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Economic uncertainty revives interest in barteringAug 13, 2025 10:54 am - The current economic climate, which is seeing the effects of tariffs, cost increases and a slowing job market, is creating uncertainty for not only individuals, but also businesses of all sizes.