Corporate executives are taking a dim view of their prospects, with a majority now expecting a recession ahead, according to a closely watched business survey released Wednesday. The Conference Board ...
Tag: Breaking News: Economy
Up 0.9% vs 1.0% Estimate
A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Jim Watson | AFP...
Powell says the Fed will not hesitate to keep raising rates until inflation comes down
Federal Reserve Chairman Jerome Powell emphasized his resolve to get inflation down, saying Tuesday he will back interest rate increases until prices start falling back toward a healthy level. “...
Powell says he can’t guarantee a ‘soft landing’ as the Fed looks to control inflation
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson | AFP | Getty Images Federal Reserve Chairman Jerome Powell warned Thursday that...
Federal Reserve Chair Jerome Powell confirmed by Senate for a second term
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 04, 2022 in Washington, DC. Powell announced the Federal Reserve is raising ...
Fed’s Waller promises to tackle inflation, says mistakes of the ’70s won’t be repeated
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...
Inflation outlook for consumers falls from record, Fed survey shows
A worker stocks items inside a grocery store in San Francisco, California, May 2, 2022. David Paul Morris | Bloomberg | Getty Images Consumers grew a little more optimistic about inflation in April, t...
Fed’s Kashkari confident inflation can weaken, but not without pain
Neel Kashkari Anjali Sundaram | CNBC Minneapolis Federal Reserve President Neel Kashkari said Monday he’s confident inflation will come back to normal though it’s taking longer than he exp...
Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation
WASHINGTON — The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point, the most aggressive step yet in its fight against a 40-year high in inflation. “Infla...
Fears of a Fed mistake grow as this week’s anticipated interest rate hike looms
Jerome Powell, Chairman of the U.S. Federal Reserve, attends the National Association of Business Economicseconomic policy conference in Washington, D.C, United States on March 21, 2022. Yasin Ozturk ...
Watch Fed Chairman Jerome Powell speak live at IMF debate
[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 Chairman Jerome Powell speaks Thursday on a panel presented by the ...
Fed’s Mester casts doubt on the need for ‘shock’ interest rate hikes ahead
Cleveland Federal Reserve President Loretta Mester said Friday she’s in favor of raising interest rates quickly to bring down inflation, but not so quickly as to disrupt the economic recovery. T...
Powell says taming inflation ‘absolutely essential,’ and a 50-basis-point hike possible for May
Federal Reserve Chairman Jerome Powell affirmed the central bank’s determination to bring down inflation and said Thursday that aggressive rate hikes are possible as soon as next month. “I...
Fed’s Daly says the economy can handle rate hikes, but a mild recession is possible
Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, November 12 2018. Ann Saphir | Reuters San Francisco...
Fed’s Bostic expresses caution about the pace of interest rate hikes
Atlanta Federal Reserve President Raphael Bostic on Tuesday expressed concern about the impact that rate hikes could have on the U.S. economic recovery, saying the central bank shouldn’t move so...
Retail sales rose 0.5% in March amid inflation jump; import prices hit 11-year high
Customers pushing shopping carts shop at a supermarket on April 12, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images Consumers continued to spend in March even as...
Fed’s Waller sees likelihood of multiple half-point interest rate hikes ahead
Getting inflation under control will require raising interest rates at a faster pace than normal even though the pace of price increases probably has peaked, Federal Reserve Governor Christopher Walle...
Consumer prices rose 8.5% in March, slightly hotter than expected and the highest since 1981
Prices that consumers pay on everyday items surged in March to their highest levels since the early days of the Reagan administration, according to Labor Department data released Tuesday. The consumer...
Consumer fears over inflation hit a record high in March, New York Fed survey shows
A motorist pumps gas at a Valero station along Encinitas Blvd in Encinitas, CA on Tuesday, April 5, 2022. Sandy Huffaker | The Washington Post | Getty Images Worries are increasing over inflation, wit...
Here’s a look at inflation-fighting pros, cons of Fed raising rates
A customer shops at at a grocery store on February 10, 2022 in Miami, Florida. The Labor Department announced that consumer prices jumped 7.5% last month compared with 12 months earlier, the steepest ...
US weekly jobless claims
The labor market tightened further last week, with initial jobless claims falling to their lowest level in more than 53 years, the Labor Department reported Thursday. Initial filings for unemployment ...
Fed’s Bullard says interest rate policy is ‘behind the curve’ but ‘all is not lost’
James Bullard Olivia Michael | CNBC The Federal Reserve needs to raise interest rates substantially to control inflation but may not be as “behind the curve” as it appears, St. Louis Fed P...
Fed minutes March 2022 meetings:
Federal Reserve officials discussed how they want to reduce their trillions in bond holdings at their March meeting, with a consensus amount around $95 billion, minutes released Wednesday showed. Offi...
Watch Treasury Secretary Janet Yellen speak live on the global financial system
[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.] Treasury Secretary Janet Yellen testifies Wednesday before the House Financial Ser...
Key people from the Fed just spooked the markets — here’s what they said
If there was any question about where the Federal Reserve stands on the key issue of the day — inflation — two important officials brought even more clarity on Tuesday. Fed Governor Lael Brainard and ...
Fed’s Mary Daly says high inflation ‘is as harmful as not having a job’
San Francisco Federal Reserve Bank chief of research Mary Daly stands near the podium before a speech at the CFA Society in San Francisco, California, U.S. July 10 2018. Ann Saphir | Reuters San Franc...
Fed’s Brainard sees balance sheet reduction soon and ‘at a rapid pace’
Lael Brainard, Federal Reserve governor and President Bidens nominee to be the new vice-chair of the Federal Reserve, speaks during her nomination hearing with the Senate Banking Committee on Capitol ...
Payrolls rose 431,000 in March, less than expected
Amid soaring inflation and worries about a looming recession, the U.S. economy added slightly fewer jobs than expected in March as the labor market grew increasingly tighter. Nonfarm payrolls expanded...
The Fed’s preferred inflation gauge rose 5.4% in February, the highest since 1983
The Federal Reserve’s favorite inflation measure showed intensifying price pressures in February, rising to its highest annual level since 1983, the Commerce Department reported Thursday. Exclud...
Fed’s Patrick Harker says he thinks the U.S. can avoid a recession, even amid troubling signs
Despite on ominous indicator hanging over the economy and higher interest rates on the way, Philadelphia Federal Reserve President Patrick Harker said Tuesday that he doesn’t think the U.S. is h...
Powell says ‘inflation is much too high’ and the Fed will take ‘necessary steps’ to address
U.S. Federal Reserve Chairman Jerome Powell addresses an online only news conference in a frame grab from U.S. Federal Reserve video broadcast from the Federal Reserve building in Washington, U.S., Ja...
Fed Governor Waller says half-point rate hikes could be needed as ‘inflation is raging’
Federal Reserve Governor Christopher Waller told CNBC on Friday that the central bank may need to enact one or more 50-basis-point interest rate hikes this year to tame inflation. Though he voted this...