As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.
After 10 straight rate hikes, the Federal Reserve left interest rates unchanged Wednesday, but hinted that additional rate hikes are possible if inflation remains stubbornly high.
Employers added a whopping 339,000 jobs last month, a stunningly strong number. Here are some of the key takeaways of the country's red hot labor market.
The U.S. job market may be getting a second wind. Employers added 253,000 jobs in April, a modest uptick from the month before. The unemployment rate dipped to 3.4%.
Retail sales dipped 0.4% in February after a surprise start-of-the-year surge that appeared at odds with the Federal Reserve's goal of cooling down the economy.