James Bullard David Orrell | CNBC St. Louis Fed President James Bullard said Friday he thinks the central bank should raise interest rates the equivalent of 12 times this year to convince the public i...
Tag: Breaking News: Economy
Federal Reserve meeting:
The Federal Reserve on Wednesday approved its first interest rate increase in more than three years, an incremental salvo to address spiraling inflation without torpedoing economic growth. After keepi...
Retail sales February 2022 come up short as inflation puts dent in consumer spending
An Amazon Prime truck pulls away after a delivery in Washington, DC, on February 17, 2022. Nicholas Kamm | AFP | Getty Images Consumers continued to spend in February through at a slower pace than exp...
Wholesale inflation climbed 0.8% in February, slightly lower than expectations
Another surge in energy prices pushed wholesale goods prices to their biggest one-month jump in record in February, according to Labor Department data released Tuesday. Final demand prices for goods j...
Here’s everything the Fed is expected to do at its meeting this week
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, March 2, 2022. Stefani Reynolds | AFP | Getty I...
CPI inflation February 2022:
Customers shop 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 ye...
China on deck to reveal its 2022 GDP target
Workers weld at a workshop of an automobile manufacturer in Qingzhou, East China’s Shandong Province, on March 1, 2022. Future Publishing | Future Publishing | Getty Images BEIJING — China is sl...
Chicago Fed’s Charles Evans cautions on inflation’s hit to small businesses
Small businesses will be facing growing challenges from inflation and higher wages, Chicago Federal Reserve President Charles Evans said Friday. Even with average earnings flattening out in February, ...
Jobs report February 2022:
Job growth accelerated in February, posting its biggest monthly gain since July as the employment picture got closer to its pre-pandemic self. Nonfarm payrolls for the month grew by 678,000 and the un...
Cleveland Fed President Mester says Ukraine war accelerates the need for interest rate hikes
War in Ukraine only heightens the need for higher interest rates to get inflation under control, Cleveland Fed President Loretta Mester said Thursday. The attack from Russia has pushed commodity price...
Watch Federal Reserve Chair Powell speak live
[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 speaks Thursday before the U.S. Senate Comm...
Watch Jerome Powell live
[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 addresses the U.S. House Committee on Finan...
Fed Chair Powell notes ‘highly uncertain’ Ukraine impact, but says rate hikes are still coming
Federal Reserve Board Chairman Jerome Powell speaking at a re-nomination hearing of the Senate Banking, Housing and Urban Affairs Committee, on January 11, 2022, in Washington, DC. Pool / Getty Federa...
ADP February 2022:
Signage at a Job News USA career fair in Louisville, Kentucky, June 23, 2021. Luke Sharrett | Bloomberg | Getty Images Private job creation rose at a faster-than-expected clip in February, according t...
With inflation and Ukraine, Powell must thread a needle on Capitol Hill this week to calm markets
U.S. Federal Reserve Board Chairman Jerome Powell attends his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022. ...
Fed’s favorite inflation gauge up 5.2% for biggest annual gain since 1983
A key inflation measure showed that prices rose at their fastest level in nearly 39 years, but it didn’t deter consumers from spending aggressively, the Commerce Department reported Friday. The ...
Jobless claims GDP:
Weekly jobless claims came in slightly less than expected last week and economic growth to end 2021 was slightly better than originally reported, according to government data released Thursday. Initia...
The market has adjusted its views of how the Federal Reserve will raise interest rates
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. ...
Fed approves rules banning its officials from trading stocks, bonds and also cryptocurrencies
Federal Reserve officials won’t be able to trade a slew of assets including stocks and bonds — as well as cryptocurrencies — under new rules that became formal Friday. Following up on regulation...
Fed’s Bullard says inflation ‘could get out of control’ so action is needed now
James Bullard Olivia Michael | CNBC NEW YORK — St. Louis Federal Reserve President James Bullard cautioned Thursday that without central bank action on interest rates, inflation could become an even m...
Minutes show Fed ready to raise rates, shrink balance sheet soon
Federal Reserve officials set plans into motion at their most recent meeting to begin raising interest rates and shed the trillions of dollars in bonds on the central bank balance sheet, according to ...
Retail sales January 2022:
Consumer spending bounced back sharply in January as rising inflation and a post-holiday surge kept cash registers ringing, the Commerce Department reported Wednesday. Retail sales for the month rose ...
Inflation rises 7.5% over the past year, even more than expected
Consumer prices surged more than expected over the past 12 months, indicating a worsening outlook for inflation and cementing the likelihood of substantial interest rate hikes this year. The consumer ...
University of Michigan provost named as next head of the Boston Fed
The Federal Reserve Bank of Boston today announced that Dr. Susan M. Collins will be its next president, CEO. Courtesy: Federal Reserve Bank of Boston. The Boston Federal Reserve, which is heading the...
Fed’s Mester says ‘each meeting is going to be in play’ for rate hikes this year
Cleveland Federal Reserve President Loretta Mester laid out an aggressive plan for reducing easy-money policies this year, saying the central bank will be ready to hike rates at any meeting and should...
Fed’s Bostic says more than 3 hikes possible this year, but needs to see how economy responds
Raphael Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta. Christopher Dilts | Bloomberg | Getty Images Atlanta Federal Reserve President Raphael Bostic said Wednesd...
Consumer debt totals $15.6 trillion after a record-breaking increase in 2021
A customer counts his cash at the register while purchasing an item at a Best Buy store in Flushing, New York. Jessica Rinaldi | Reuters Consumers ended 2021 with record levels of debt, leading into a...
Seven hikes? Fast-rising wages could cause the Fed to raise interest rates even higher this year
Too much of a good thing, in the form of rapidly rising wages, is expected to push Federal Reserve interest rate hikes at an even faster pace. Average hourly earnings jumped 0.7% in January and are no...
Weekly jobless claims total 238,000, fewer than expected
Initial filings for unemployment claims totaled a bit fewer than expected last week as companies looked to overcome the impact of the omicron spread. Claims for the week ended Jan. 29 were 238,000, a ...
Payrolls show surprisingly strong gain of 467,000 despite omicron surge
Job growth rose far more than expected in January despite surging omicron cases that seemingly sent millions of workers to the sidelines, the Labor Department reported Friday. Nonfarm payrolls surged ...
Republicans grill Fed nominee Raskin over past views on climate and big energy companies
Sarah Bloom Raskin, nominated to be vice chairman for supervision and a member of the Federal Reserve Board of Governors, gestures during a Senate Banking, Housing and Urban Affairs Committee confirma...