The most important economic events and news in the United States of America

Here is some text wrapped in codeblock syntax using the given keywords:Show more

- The US economy is facing a **debt ceiling crisis** as negotiations between the White House and House Republicans have stalled, raising the risk of a **government default** as soon as next month .
- The US inflation rate fell below **5%** for the first time in two years in April, as consumer prices rose by **4.9%** year-on-year, down from **5.2%** in March.
- The US job market remained **robust** despite the banking crisis that toppled First Republic and two other banks, adding **211,000** jobs in April and keeping the unemployment rate at **4.4%**.
- The US Federal Reserve raised its benchmark interest rate by a quarter percentage point to a range of **2.25% to 2.5%** in March, despite signs of slowing economic growth and cooling inflation.
- The US economic growth slowed to an annualized rate of **2.3%** in the first quarter of 2023, down from **2.9%** in the previous quarter, as businesses cut back on investment and trade tensions weighed on exports.