Author: Paul Davidson, USA TODAY

Recession this year is likely, experts say, but it could be avoided or minimized if the wealthy keep spending despite falling stocks and inflation.

U.S. employers added 236,000 jobs in March as hiring slowed for second month amid high inflation and interest rates. Unemployment fell to 3.5%.

A growing share of industries is shedding jobs, a possible clue that employment growth is slowing ahead of a government jobs report on Friday.

Job openings fell to 9.9 million in February, the lowest since May 2021, while quitting picked up in a sign the labor market is gradually cooling.

Some banks are sharply lifting the interest they pay on savings accounts, CDs after Silicon Valley Bank crisis sparked big outflows of deposits

Most economists expect the Fed to lift interest rates by a quarter point despite the SVB crisis but some disagree. Reasons for and against a hike.

After Silicon Valley Bank’s collapse, banking system ‘remains sound,’ depositors’ savings ‘remain safe’ due to U.S. action, Treasury Sec. Yellen says

SVB’s collapse and banking stress will likely reduce GDP growth slightly, by 0.2 to 0.3 percentage points. Banks will likely be more hesitant to lend

Some economists expect the Fed to keep its key interest rate unchanged due to concerns about financial stability after the Silicon Valley Bank crisis