Jeanna Smialek and Ben Casselman

Pandemic stimulus, a strong job market and climbing stock and home prices boosted net worth at a record pace, Federal Reserve data showed.

Economists had been wary of strong economic data, worried that it meant inflation might stay high. Now they are starting to embrace it.

Amid the pandemic, people thought the labor market had permanently changed in important ways. It was a bad bet.

Inflation is down from its peak last summer, but recent readings have shown substantial and surprising staying power.

Workers are in short supply three years into the pandemic job market rebound, and officials increasingly think they aren’t coming back.

The Bank of England stepped in to save a critical market this week. Economists say it was necessary but also worry about the precedent.

Americans with low incomes are pulling back from buying even as their richer counterparts keep spending — with potentially big consequences.

The Federal Reserve’s preferred inflation gauge climbed rapidly in June. Wage and benefit gains are fast, too, separate data showed.

Inflation is expected to remain high later this year even as the economy slows and layoffs rise. Already, signs of financial stress are surfacing.

The United States spent more on its policy response than other advanced economies. Now economists are revisiting how that worked.