Egg shelves are seen with a note apologizing to customers for the price increase after the reduction in productivity brought on by poultry fatalities caused by various illnesses, in San Mateo, Califor...
Tag: Breaking News: Economy
U.S. GDP rose 2.9% in the fourth quarter, more than expected even as recession fears loom
The U.S. economy finished 2022 in solid shape even as questions persist over whether growth will turn negative in the year ahead. Fourth-quarter gross domestic product, the sum of all goods and servic...
Fed Governor Waller backs quarter-point interest rate hike at next meeting
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, listens during a Senate Banking Committee confirmation hearing in Washington, D.C., on Thursday, Fe...
Watch the Federal Reserve’s Waller speak live on the economy and interest rates
[The stream is slated to start at 1 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Governor Christopher Waller is scheduled to speak Friday at 1 p.m. ...
Existing home sales drop in December to slowest pace since 2010
Homes in Rocklin, California, US, on Tuesday, Dec. 6, 2022. A record number of homes are being delisted as sellers face a sharp drop in demand, according to real estate brokerage Redfin. David Paul Mo...
Fed Governor Lael Brainard sees high rates ahead even with progress on inflation
Lael Brainard, vice chair of the US Federal Reserve, during a University of Chicago Booth School of Business event in Chicago, Illinois, US, on Thursday, Jan. 19, 2023. Jim Vondruska | Bloomberg | Ge...
Markets fully price in quarter-point interest rate hike in February as inflation slows
The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. Sarah Silbiger | Reuters Markets are nearly certain the Federal Reserve next month will take another step down in the pace of ...
Federal Reserve Chairman Jerome Powell tests positive for Covid
Federal Reserve Board Chairman Jerome Powell holds a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Buildi...
Wholesale prices fell 0.5% in December, much more than expected; retail sales fall
Prices for wholesale goods and services fell sharply in December, providing another sign that inflation, while still high, is beginning to ease. The producer price index, which measures final demand p...
Consumer prices fell 0.1% in December, in line with expectations from economists
Inflation closed out 2022 in a modest retreat, with consumer prices posting their biggest monthly decline since early in the pandemic, the Labor Department reported Thursday. The consumer price index,...
Fed’s Bowman says there’s ‘a lot more work to do’ to bring down inflation
Federal Reserve Bank Governor Michelle Bowman gives her first public remarks as a Federal policymaker at an American Bankers Association conference In San Diego, California, February 11 2019. Ann Saph...
Powell stresses need for Fed political independence on tackling inflation
Federal Reserve Chairman Jerome Powell on Tuesday emphasized the need for the central bank to be free of political influence while it tackles persistently high inflation. In a speech delivered to Swed...
Consumers see inflation, and spending, cooling, New York Fed survey shows
People shop for goods at a Publix in Nashville, Tennessee, on December 22, 2022, ahead of winter storm Elliot. Seth Herald | AFP | Getty Images Consumers see the inflation burden easing while they ex...
Raphael Bostic says Fed needs to ‘stay the course’ despite lower wage gains
Atlanta Federal Reserve President Raphael Bostic said Friday that December’s jobs report, with its slowdown in wage increases and better than expected employment growth, doesn’t change his...
Nonfarm payrolls rose 223,000 in December, as strong jobs market tops expectations
Payroll growth decelerated in December but was still better than expected, a sign that the labor market remains strong even as the Federal Reserve tries to slow economic growth. Nonfarm payrolls incre...
ADP jobs report December 2022:
The jobs market closed out 2022 on a high note, with companies adding far more positions than expected in December, payroll processing firm ADP reported Thursday. Private payrolls rose by 235,000 for ...
JOLTS report November 2022
Demand for employment remained high in November as companies looked for workers to fill positions despite worries of a looming recession, the Labor Department reported Wednesday. The Job Openings and ...
Fed minutes December 2022:
WASHINGTON – Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released Wednesday from...
Sales fall 0.6% as consumers feel pressure from inflation
A woman carries bags of merchandise from J.Crew, Nordstrom, UGG, and Victorias Secret at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. Mark Makela | Getty Images Cons...
Here’s everything the Federal Reserve is expected to do Wednesday
Call it a sign of the times where a half percentage point interest rate increase from the Federal Reserve is considered looser monetary policy. Prior to this year, the Fed hadn’t boosted benchma...
Fed raises interest rates half a point
The Federal Reserve on Wednesday raised its benchmark interest rate to the highest level in 15 years, indicating that the fight against inflation is not over despite some promising signs lately. Keepi...
Prices rose less than expected in November, up 7.1% from a year ago
Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up. The consumer price index, which measures a wide bas...
Consumers see inflation easing considerably in the next year, New York Fed survey shows
Shoppers carry bags of purchased merchandise at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. Mark Makela | Getty Images Consumers grew more optimistic about inflatio...
Wholesale prices rose 0.3% in November, more than expected, despite hopes that inflation is cooling
Wholesale prices rose more than expected in November, dampening hopes that inflation could be headed lower, the Labor Department reported Friday. The producer price index, a measure of what companies ...
Mortgage demand falls again even as interest rates sink further
A “For Sale” sign in front of a home in Sacramento, California, on Monday, Dec. 5, 2022. David Paul Morris | Bloomberg | Getty Images Lower mortgage rates are pulling some current homeowne...
Key inflation measure that the Fed follows rose 0.2% in October, less than expected
A man climbs into the fridge for milk at a Walmart store in Rosemead, California on November 22, 2022. Frederic J. Brown | AFP | Getty Images Inflation rose in October about in line with estimates, se...
Fed Chair Jerome Powell says smaller rate hikes could come in December
WASHINGTON – Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead even as he sees progress in the fight against inflation as largely inadequ...
Job openings fall amid Fed efforts to cool labor market
Workers sort packages at a FedEx Express facility on Cyber Monday in Garden City, New York, on Monday, Nov. 28, 2022. Michael Nagle | Bloomberg | Getty Images Job openings dipped in October amid the F...
Private hiring increased by just 127,000 jobs in November, well below estimate, ADP reports
Private hiring slowed sharply during November in a sign that the historically tight labor market could be losing some steam, according to a report Wednesday from payroll processing firm ADP. Companies...
Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession
Tesla Motors CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014. Lucy Nicholson | Reuters Elon Musk thinks a recession is coming and worrie...