Economy

U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and inflation, according to the department’s

US Federal Reserve Board Chairman Jerome Powell arrives to testify at a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report,” on Capitol Hill in Washington, DC, March 6, 2024.  Mandel Ngan | Afp | Getty Images With the economy humming along and the stock market, despite some recent twists and

A “Now Hiring” sign is displayed on a shopfront on October 21, 2022 in New York City. Leonardo Munoz | View Press | Corbis News | Getty Images Calling the state of the U.S. jobs market these days stable seems like an understatement considering the latest data coming out of the Labor Department. That’s because

The U.S. economy could be headed for stormy waters in 2025 if the Federal Reserve does not take action soon on interest rates, State Street’s head of investment strategy in EMEA said Tuesday. Altaf Kassam told CNBC that classic monetary policy mechanisms had “broken,” meaning that any changes made by the Fed will now take

Financial Counsellor and Director of the Monetary and Capital Markets Department Tobias Adrian hold the press briefing of the Global Financial Stability Report at the International Monetary Fund during the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC, United States on April 16, 2024. Anadolu |

One of the International Monetary Fund’s top economists signals little risk of a global recession, despite the ongoing rumblings of geopolitical uncertainty. The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024 and projects the same rate in 2025. “When we do the risk assessment around that baseline,

Inflation in the U.K. eased to 3.2% from 3.4% in March, the Office for National Statistics said on Wednesday, but a set of higher-than-expected figures spurred investors to push back bets on the timing of the first Bank of England rate cut. Economists polled by Reuters had expected a reading of 3.1%. Food prices provided

Crowds walk below neon signs on Nanjing Road. The street is the main shopping district of the city and one of the world’s busiest shopping districts. Nikada | E+ | Getty Images The International Monetary Fund on Tuesday slightly raised its global growth forecast, saying the economy had proven “surprisingly resilient” despite inflationary pressures and

Rising inflation in March didn’t deter consumers, who continued shopping at a more rapid pace than anticipated, the Commerce Department reported Monday. Retail sales increased 0.7% for the month, considerably faster than the Dow Jones consensus forecast for a 0.3% rise though below the upwardly revised 0.9% in February, according to Census Bureau data that

The consumer price index accelerated at a faster-than-expected pace in March, pushing inflation higher and likely dashing hopes that the Federal Reserve will be able to cut interest rates anytime soon. The CPI, a broad measure of goods and services costs across the economy, rose 0.4% for the month, putting the 12-month inflation rate at

Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, March 7, 2024.  Bloomberg | Bloomberg | Getty Images The European Central Bank on Thursday held interest rates steady for a fifth straight meeting and gave its clearest signal yet of an upcoming rate cut,

In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023.  Evelyn Hockstein | Reuters JPMorgan Chase CEO Jamie Dimon

A sign advertising units for rent is displayed outside of a Manhattan building on April 11, 2024 in New York City. Spencer Platt | Getty Images The early data is in for the path of inflation during the first three months of 2024, and the news so far is, well, not good. Pick your poison.

DUBAI, UNITED ARAB EMIRATES – DECEMBER 04: Larry Fink, CEO of Blackrock, speaks at a roundtable discussion titled: “Financing the New Climate Economy,” during which he described the urgent need for a “new financial landscape” for funding investments into the global energy transition on day five of the UNFCCC COP28 Climate Conference at Expo City

In this article LEVI BOOT Follow your favorite stocksCREATE FREE ACCOUNT Beyonce leaves the Luar fashion show at 154 Scott in Brooklyn during New York Fashion Week on February 13, 2024 in New York City.  James Devaney | GC Images | Getty Images Western boots have a new protector in Beyoncé. The country fashion staple’s

Plane contrails streak across the sky over Regent Street on February 15, 2024 in London, England.  Dan Kitwood | Getty Images LONDON — U.K. gross domestic product rose 0.1% in February, the Office for National Statistics said on Friday, providing another sign of a return to sluggish economic growth this year. The month-on-month figure was

A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected. The producer price index rose 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6%

Container ships from international trunk lines, including those from Europe, Africa, India, Pakistan, and Southeast Asia, are loading and unloading containers at the container terminal of the Qianwan Port Area of Qingdao Port in Qingdao, China, on April 4, 2024.  Nurphoto | Getty Images The World Trade Organization on Wednesday said that it expects global