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Economy

2024’s highs, lows for Illinois businesses; getting more highs in 2025

By Matt Paprocki
Dec 22, 2024 6:04 am - In 2025, Illinois lawmakers must prioritize improving the business environment to foster growth and stability. Anything else will hurt our job creators, which hurts us all.
Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty

By JOSH BOAK
Dec 20, 2024 7:20 am - The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty.
U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate

By PAUL WISEMAN
Dec 19, 2024 7:39 am - The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate.
Federal Reserve cuts its key rate by a quarter-point but envisions fewer reductions next year

By CHRISTOPHER RUGABER
Dec 18, 2024 6:37 am - The Federal Reserve cut its key interest rate Wednesday by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, largely because of still-elevated inflation.
FTC issues rules requiring hotels, ticket sellers to reveal ‘junk fees’

Tony Romm
Dec 17, 2024 3:09 pm - The Federal Trade Commission on Tuesday issued long-awaited rules requiring companies to display the full price of a hotel room, concert ticket or sporting event up front...
Retail sales rose at healthy pace last month in latest sign of US economy’s health

By CHRISTOPHER RUGABER and ANNE D'INNOCENZIO
Dec 17, 2024 7:44 am - Consumers stepped up their spending at retail stores last month, providing a boost to the economy in the early phases of the winter holiday shopping season.
Federal Reserve is likely to slow its rate cuts with inflation pressures still elevated

By CHRISTOPHER RUGABER
Dec 16, 2024 1:56 pm - Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week's Federal Reserve meeting. The Fed's policymakers are likely to signal fewer interest rate cuts next year than were previously expected.
Skyrocketing car-insurance premiums are pushing inflation higher

By Andrew Ackerman, Federica Cocco
Dec 13, 2024 2:30 pm - Soaring insurance premiums, particularly for autos, are fueling rising consumer prices and complicating policymakers’ attempts to beat back inflation. Inflation cooled fo...
As budget tightens, report finds Illinois better prepared for recession than in recent past

By Ben Szalinski
Dec 11, 2024 10:00 am - State lawmakers will face a projected budget deficit and slowing revenue when they return to Springfield in January, but a new report shows fiscal decisions made in recent years have put Illinois in a better position to handle a recession than in recent decades.
Cutting through the noise in 2025 to work for small businesses

By Elliot Richardson
Dec 08, 2024 6:30 am - The small business community needs a common sense, meaningful, and robust agenda in 2025. Elliot Richardson says the Small Business Advocacy Council will deliver.

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