The Federal Reserve’s preferred inflation gauge fell in June, as the pace of price growth pulled back amid volatility in energy markets. The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index declined 0.1% on a monthly basis in June and was up 3.7% from a year ago. Both…

This story about the advance estimate of second-quarter GDP will be updated with further details. U.S. economic growth slowed unexpectedly in the second quarter of the year, according to the Commerce Department’s advance estimate.The Bureau of Economic Analysis (BEA) on Thursday released its advance estimate of second-quarter GDP, which showed the…

Visa on Tuesday announced plans to cut 7% of its workforce, or about 2,600 jobs, as the payment processor moves forward with a push to operate more efficiently. The job cuts are expected to primarily affect technology and product teams.”I have deep conviction that we are doing what is right…