Number 2023, cash dollar banknotes and stock market indicators (money, economy, business, finance, inflation, crisis)
The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday, a slight upgrade from its initial estimate.
The government had previously estimated that the economy grew at a 1.1% annual rate last quarter.
The Commerce Department's revised measure of growth in the nation's gross domestic product — the economy’s total output of goods and services — marked a deceleration from the second half of 2022.
Despite the first-quarter slowdown, consumer spending, which accounts for around 70% of America's economic output, rose at a healthy pace.
With mortgage rates having doubled over the past year, the real estate market has already taken a beating: Investment in housing fell from January through March. In April, sales of existing homes were 23% below their level a year earlier.
Dr. Jarrad Aguirre, Co-Founder and CEO of Miga Health, joins Cheddar News' Closing Bell, where he says his company is looking to establish the future of heart health and points to how 80% of premature heart attacks and strokes are preventable.
DroneUp is partnering with Walmart in a program to expand its drone delivery service to reach 4 million households. CEO Tom Walker joined Cheddar News to discuss the state of drone delivery regulations and the acceptance of the service so far. "I think they're going into this, there was obviously, and appropriately, some concerns of noise and, and the drones flying over, and the safety, and would it become an annoyance. And then on the retail side, would the customers really adopt this and embrace it as a new method for delivery," he said. "So we've seen really significant and positive embrace of this new delivery model."
The average city in California has a 38% higher cost of living than the average American city, according to a cost of living index. For many, the general minimum wage of $15/hour just doesn't cut it. Anti-poverty activist Joe Sanberg wants to get the minimum wage changed to $18/hour. He joins Cheddar News to discuss the Living Wage Act of 2022.
Coming off of their face masks endeavor, Jill Zarin of "The Real Housewives of New York City," and her daughter Ally Shapiro, CMO of JIll & Ally, join Cheddar News to discuss their latest product: crystal manifestation candles. "We have tigers eye, we have amethyst, we have lapis, and alone those could be almost the price of the candle," said Zarin. "We were really able to do it in an affordable way, and if you don't know how to manifest or what that even means, we do it for you on the candle." Zarin also dished on the new season of "Real Housewives Ultimate Girls Trip."
