Economy

The European Union must avoid a harmful decoupling of global trade as it mulls tariffs on Chinese electric vehicles and other goods, the bloc’s economic chief said Wednesday. “I think that as far as Europe is concerned we need a more mature attitude in our trade, securing our economy … especially with China,” European Commissioner

People shop in the food section of a retail store in Rosemead, California, Jan. 19, 2024. Frederic J. Brown | AFP | Getty Images Inflation trends may have gotten a little less dreary in April, though they are still likely to keep the Federal Reserve uncomfortable enough to stay on pause with interest rates. The

Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon. The producer price index, a gauge of prices received at the wholesale level, increased 0.5% for the month, higher than the 0.3% Dow Jones estimate, the Labor Department’s Bureau of Labor Statistics reported Tuesday. However, the

Consumers in April raised their expectations for price increases both in the near and longer term, fueled by higher inflation in home prices along with fuel and energy, according to a New York Federal Reserve survey released Monday. The central bank’s New York district reported in its monthly Survey of Consumer Expectations that the outlook

The flags of the U.S. and Germany are on the table at a bilateral meeting between German Economics Minister Habeck and U.S. Secretary of State Blinken at a hotel on the Gendarmenmarkt. Photo: Christoph Soeder/dpa (Photo by Christoph Soeder/picture alliance via Getty Images) Christoph Soeder/dpa | Picture Alliance | Getty Images After years of China

Commuters in London. Jason Alden/Bloomberg via Getty Images The U.K. economy has emerged from recession as gross domestic product rose 0.6% in the first quarter, official figures showed Friday, beating expectations. Economists polled by Reuters had forecast growth of 0.4% on the previous three months of the year. The U.K. entered a shallow recession in the second

Bank of England Governor Andrew Bailey attends the central bank’s Monetary Policy Report press conference at the Bank of England, in London, on May 9, 2024. The Bank of England on Thursday kept its main interest rate at a 16-year high, but hinted at a cut over the summer as UK inflation cools further and

In this article GRMN TSN AXP UPST Follow your favorite stocksCREATE FREE ACCOUNT Getty Images At American Express, consumers are continuing to open high-fee credit cards and splurge on luxuries like travel. But for lending firm Upstart, there’s a strong interest in microloans as cash-strapped Americans try to scrape by. That juxtaposition underscores the growing

Consumer sentiment slumped as inflation expectations rose, despite otherwise strong signals in the economy, according to a closely watched survey released Friday. The University of Michigan Survey of Consumers sentiment index for May posted an initial reading of 67.4 for May, down from 77.2 in April and well off the Dow Jones consensus call for

Jobseekers during a Construction Career Fair at Cape Fear Community College in Wilmington, North Carolina, US, Wednesday, March 15, 2023.  Allison Joyce | Bloomberg | Getty Images Initial filings for unemployment benefits have hit their highest level since late August 2023, a potential sign that an otherwise robust labor market is changing. Jobless claims totaled

Reckless government spending enabled by the Federal Reserve is hurting average Americans and endangering President Joe Biden’s chances at getting reelected, billionaire investor Stanley Druckenmiller said Tuesday. During an appearance on CNBC’s “Squawk Box,” the head of Duquesne Family Office who made his name betting against the British pound in the early 1990s blasted fiscal

A sign advertising a home for sale is displayed outside of a Manhattan building on April 11, 2024 in New York City.  Spencer Platt | Getty Images The dream of home ownership has gotten even further away for renters, with higher housing costs and elevated interest rates standing in the way of the American housing

People walk in the rain over London Bridge in central London. Picture date: Tuesday March 12, 2024. Lucy North – Pa Images | Pa Images | Getty Images The U.K.’s “sluggish” growth prospects have put it on course to be the worst-performing economy of all advanced nations next year, according to new forecasts from the

A Turkish national flag, left, and a flag bearing the portrait of Kemal Ataturk, founder of the modern Turkish republic, hang from the exterior of a building in the Sisli district of Istanbul, Turkey, on Monday, Aug. 29, 2022. Bloomberg | Bloomberg | Getty Images Turkey’s inflation accelerated to 69.8% annually for the month of

A networking and hiring event for professionals of color in Minneapolis. Michael Siluk | Getty Images The unemployment rate for Black Americans fell in April, bucking the overall trend, according to data released Friday by the Department of Labor. Black Americans remain the racial group with the highest jobless percentage in the U.S., even after

The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain low, economists and the Federal Reserve are touting the importance of immigrant workers for overall future economic growth. Immigrant workers made up 18.6% of the workforce

The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates. Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from

A jobseeker takes a flyer at a job fair at Brunswick Community College in Bolivia, North Carolina, on April 11, 2024. Allison Joyce | Bloomberg | Getty Images Hiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could sway the Federal Reserve. Nonfarm payrolls