Federal Reserve officials earlier this month agreed that smaller interest rate increases should happen soon as they evaluate the impact policy is having on the economy, meeting minutes released Wednes...
Tag: Breaking News: Economy
Fed’s Mester wants more progress on inflation before ending interest rate hikes
Cleveland Federal Reserve President Loretta Mester said Monday inflation will need to show more signs of progress before she’s ready to stop advocating for interest rate increases. While acknowl...
Home sales fell for ninth straight month in October
A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Home sales declined for the ninth straight month in October,...
Fed’s Collins expresses hope that inflation can be tamed without hitting jobs
Susan Collins, Boston Federal Reserve Source: Federal Reserve Bank of Boston Boston Federal Reserve President Susan Collins expressed confidence Friday that policymakers can tame inflation without doi...
Fed’s Waller says he’s open to a half-point rate hike at December meeting
Christopher Waller testifies before the Senate Banking, Housing and Urban Affairs Committee during a hearing on their nomination to be member-designate on the Federal Reserve Board of Governors on Feb...
Fed’s Daly sees rates rising at least another percentage point as ‘pausing is off the table’
San Francisco Federal Reserve President Mary Daly said Wednesday she expects the central bank to raise interest rates at least another percentage point, and possibly more, before it can pause to evalu...
Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says
Luis Alvarez | Digitalvision | Getty Images Households increased debt during the third quarter at the fastest pace in 15 years due to hefty increases in credit card usage and mortgage balances, the Fe...
Wholesale prices rose 0.2% in October, less than expected, as inflation eases
Employees work at the BMW manufacturing plant in Greer, South Carolina, October 19, 2022. Bob Strong | Reuters Wholesale prices increased less than expected in October, adding to hopes that inflation ...
Fed Vice Chair Brainard says it may ‘soon’ be appropriate to move to slower pace of rate hikes
Lael Brainard, vice chair of the US Federal Reserve, listens to a question during an interview in Washington, DC, US, on Monday, Nov. 14, 2022. Andrew Harrer | Bloomberg | Getty Images Federal Reserve...
Inflation expectations rebound on record-high jump in gas outlook: NY Fed survey
A Sheetz customer gets gasoline at a gas station in Plains, Pennsylvania, U.S. October 19, 2022. Aimee Dilger | Reuters Americans grew more worried about inflation in the October, with fears emanatin...
Fed officials welcome inflation news but still see tighter policy ahead
Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, March 29, 2022. Andrew Kelly | Reuters Federal Reserve officials welcomed Thursday’s news showing that inflat...
Consumer prices rose 0.4% in October, less than expected, as inflation eases
The consumer price index rose less than expected in October, an indication that while inflation is still a threat to the U.S. economy, pressures could be starting to cool. The consumer price index, a ...
Consumer confidence is near its lowest in a decade, and that could be a problem for Biden
US President Joe Biden speaks during a DNC rally in Miami Gardens, Florida, US, on Tuesday, Nov. 1, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Anxiety over the cost of living and the directi...
Payrolls surged by 261,000 in October, better than expected
Job growth was stronger than expected in October despite Federal Reserve interest rate increases aimed at slowing what is still a strong labor market. Nonfarm payrolls grew by 261,000 for the month wh...
Labor costs show slower rise, while trade deficit widens and jobless claims nudge lower
The cost of labor rose less than expected, but low productivity helped keep the pressure on inflation in the third quarter, according to Labor Department data released Thursday. Unit labor costs, a me...
Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead
The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflatio...
ADP jobs report October 2022
Private payroll growth held strong on October while worker pay rose as well, particularly in the leisure and hospitality industry, according to a report Wednesday from payroll processing firm ADP. Com...
JOLTS September 2022
The Go! Go! Curry restaurant has a sign in the window reading “We Are Hiring” in Cambridge, Massachusetts, July 8, 2022. Brian Snyder | Reuters Job openings surged in September despite Fed...
Pending home sales fell 10% in September from August
A Coldwell Banker “Under Contract” sign stands outside a property in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images Pending home sales, a measure of signed contracts on existing...
PCE Inflation September 2022:
Halloween candy is for sale at a Harris Teeter grocery store on October 17, 2022 in Washington, DC. Drew Angerer | Getty Images An economic gauge that the Federal Reserve follows closely showed that i...
U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive
The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing inflation fears, the Bureau of Economic Analysis reported Thursday. GDP, a sum of...
Powell again is facing political pressure as worries mount over the economy
Jerome Powell, chairman of the US Federal Reserve, speaks during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Federal Reserve Chairman Je...
Mortgage demand from homebuyers is nearly half what it was in 2021
A house’s real estate for sale sign is seen in front of a home in Arlington, Virginia, November 19, 2020. Saul Loeb | AFP | Getty Images Mortgage demand fell last week to nearly half what it was...
U.S. budget deficit cut in half for biggest decrease ever amid Covid spending declines
U.S. Treasury Secretary Janet Yellen listens to a reporter’s question at a news conference during the Annual Meetings of the International Monetary Fund and World Bank in Washington, U.S., Octob...
Elon Musk says a global recession could last until the spring of 2024
Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019. Aly Song | Reuters Tesla founder and CEO Elon Musk thinks the global economic de...
Fed’s Harker sees ‘lack of progress’ on inflation, expects aggressive rate hikes ahead
Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed. “We are going to keep ...
Amazon founder Jeff Bezos warns it’s time to ‘batten down the hatches’
Amazon CEO Jeff Bezos speaks during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. Paul Ellis | Reuters Amazon founder Jeff Bezos has become the latest corpo...
Goldman CEO says there’s a good chance of a recession and so it’s time to be cautious
Goldman Sachs CEO David Solomon warned Tuesday that the U.S. economy might be headed for a downturn that could make investing and business decisions more difficult. “I think it’s a time to...
Retail sales September 2022:
Customers shop at the GU Co. store in the SoHo neighborhood of New York, US, on Friday, Oct. 7, 2022. Gabby Jones | Bloomberg | Getty Images Consumer spending was flat in September as prices moved sha...
Consumer price index September 2022:
Prices consumers pay for a wide variety of goods and services rose more than expected in September as inflation pressures continued to weigh on the U.S. economy. The consumer price index for the month...
Fed minutes October 2022:
Federal Reserve officials have been surprised at the pace of inflation and indicated at their last meeting that they expect higher interest rates to remain in place until prices come down, according t...