A trader works on the floor during morning trading at the New York Stock Exchange (NYSE) on March 10, 2023 in New York City. Spencer Platt | Getty Images It seemed like only yesterday that markets we...
Tag: Breaking News: Economy
Mortgage demand recovers slightly, despite rising rates
A “For Sale” sign outside of a home in Atlanta, Georgia, on Friday, Feb. 17, 2023. Dustin Chambers | Bloomberg | Getty Images After dropping to a 28-year low the previous week, mortgage de...
Job openings declined in January but still far outnumber available workers
A ‘Now Hiring’ sign is displayed outside a Jiffy Lube location amid a still-robust labor market on February 2, 2023 in Los Angeles, California. Mario Tama | Getty Images News | Getty Images Job openin...
Watch Fed Chair Jerom Powell speak live in second day of Capitol Hill testimony
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell testifies Wednesday before the House Financ...
ADP jobs report February 2023:
A worker prepares a 155mm artillery shell at the Scranton Army Ammunition Plant in Scranton, Pennsylvania, U.S., February 16, 2023. Brendan McDermid | Reuters Companies added jobs at a brisk pace in F...
Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on February 01, 2023 in Washington, DC. Kevin Dietsch | Getty Images Federal...
Watch Fed Chair Jerome Powell speak live on Capitol Hill about interest rates and the economy
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell will address the Senate Banking, Housing an...
Fed Chair Powell heads to Capitol Hill, and he’s got his hands full
U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March...
A year later, the Fed still has a long way to go in the fight against inflation
A grocery cart sits in an aisle at a grocery store in Washington, DC, on February 15, 2023. Stefani Reynolds | AFP | Getty Images It was a year ago this month that the Federal Reserve launched its fir...
Mortgage demand falls as interest rates rise
A potential buyer with her realtor view a home listed for sale during an open house in Parkland, Florida. Carline Jean | Tribune News Service | Getty Images Mortgage rates moved higher again last week...
Fed can’t tame inflation without more rate hikes, paper says
The Federal Reserve building is seen before the Federal Reserve board is expected to signal plans to raise interest rates in March as it focuses on fighting inflation in Washington, January 26, 2022. ...
Key Fed inflation measure rose 0.6% in January, more than expected
A measure the Federal Reserve watches closely to gauge inflation rose more than expected in January, indicating the central bank has more work to do to bring down prices. The personal consumption expe...
Fed’s Mester says she has hope that inflation can be brought down without a recession
Cleveland Federal Reserve President and CEO Loretta Mester gives her keynote address at the 2014 Financial Stability Conference in Washington December 5, 2014. Gary Cameron | Reuters Cleveland Federal...
Minutes show Fed members resolved to keep fighting inflation
Federal Reserve officials at their most recent meeting indicated that there are signs inflation is coming down, but not enough to counter the need for more interest rate increases, meeting minutes rel...
Fed’s James Bullard pushes for faster rate hikes, sees ‘good shot’ at beating inflation
St. Louis Federal Reserve President James Bullard expressed confidence that the central bank can beat inflation and advocated Wednesday for stepping up the pace in the battle. Bullard told CNBC that a...
Producer price index January 2023:
Inflation rebounded in January at the wholesale level, as producer prices rose more than expected to start the year, the Labor Department reported Thursday. The producer price index, a measure of what...
Consumer debt hits record $16.9 trillion as delinquencies rise as well
A bank employee counts U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. Athit Perawongmetha | Reuters Consumer debt hit a fresh record at the end of 2022 while delinquency ...
Homebuilder sentiment in February sees biggest gain in decade
America’s homebuilders are growing more bullish as buyer demand picks up, driven in part by slightly lower mortgage rates. Homebuilder confidence in the market for newly built single-family home...
Retail sales January 2023:
Sales at retailers rose far more than expected in January as consumers persevered despite rising inflation pressures. Advance retail sales for the month increased 3%, compared to expectations for a ri...
Consumer price index January 2023:
Inflation turned higher to start 2023, as rising gas and fuel prices took their toll on consumers, the Labor Department reported Tuesday. The consumer price index, which measures a broad basket of com...
Inflation report due Tuesday has the potential to deliver some bad news
Prices are displayed in a grocery store on February 01, 2023 in New York City. Leonardo Munoz | Corbis News | Getty Images Just as Federal Reserve officials have grown optimistic that inflation is coo...
Here’s where the jobs will be during the rolling recessions
A Now Hiring sign is seen inside a WholeFoods store in New York City. Adam Jeffery | CNBC Recession-like conditions rolling through the U.S. economy are likely to cause more ripples through an otherwi...
Fed Governor Christopher Waller warns that interest rates could go higher than expectations
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., U.S, on Thursday...
Fed Chief Powell says the disinflationary process has begun, but has a long way to go
Federal Reserve Chairman Jerome Powell said Tuesday that inflation is beginning to ease, though he expects it to be a long process and cautioned that interest rates could rise more than markets expect...
Watch Federal Reserve Chair Jerome Powell discuss inflation, interest rates and the economy
[The stream is slated to start at 12:40 a.m.ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Tuesday afternoon in a question-an...
Fed’s Neel Kashkari says central bank has not made enough progress, keeping his rate outlook
Minneapolis Federal Reserve President Neel Kashkari said Tuesday that explosive jobs growth in January is evidence that the central bank has more work to do when it comes to taming inflation. That mea...
Payrolls increased by 517,000, unemployment rate at 53-year low
The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their strongest gain since July 2022. Nonfarm payrolls increased by 517,000 for January, above the Do...
Mortgage rates drop to the 5% range for first time since September
Prospective buyers at an open house in Florida. Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The average rate on the 30-year fixed rate mortgage has fallen to 5.99%,...
Fed rate decision February 2023: Quarter point hike
The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter percentage point and gave little indication it is nearing the end of this hiking cycle. Aligning with market expectatio...
ADP jobs report January 2022:
Job creation in the private sector plunged in January as weather-related issues sent workers to the sidelines, payroll processing firm ADP reported Wednesday. Companies added just 106,000 new workers ...
Employment cost index Q4 2022:
Employment costs increased at a slower than expected pace in the fourth quarter, indicating that inflation pressures on business owners are at least leveling off. The employment cost index, a baromete...
IMF hikes global growth forecast as inflation cools
The IMF has revised its global economic outlook upwards. Norberto Duarte | Afp | Getty Images The International Monetary Fund on Monday revised upward its global growth projections for the year, but w...