Economy

A networking and hiring event for professionals of color in Minneapolis, MN.  Michael Siluk | Getty Images The unemployment rate for Black Americans fell significantly in December, closing out 2023 on a positive note, according to data released Friday by the Department of Labor. Black Americans, the group with the highest jobless percentage in the country,

St. Louis Fed names Alberto G. Musalem as new president. Source: St. Louis Federal Reserve Economist Alberto Musalem was named the next president and CEO of the Federal Reserve Bank of St. Louis on Thursday. Musalem, 55, will start on April 2. He succeeds James Bullard, who joined Purdue University last August. The St. Louis

A now hiring sign is posted in front of a U-Haul rental center on November 03, 2023 in San Rafael, California. Justin Sullivan | Getty Images When the December jobs report is released Friday morning, markets will be looking for a number that hits a sweet spot between not so robust as to trigger more

Skyline of Riyadh in Saudi Arabia. Simon Dawson | Bloomberg | Getty Images Saudi Arabia’s Public Investment Fund (PIF) was the top spender among global sovereign wealth funds last year, accounting for about a quarter of the $124 billion splashed by state-owned investors, according to a preliminary report by research consultancy Global SWF. The Saudi

A job seeker visits a Job News USA career fair in Louisville, Kentucky, on June 23, 2021. A new Kentucky law cuts the maximum duration of unemployment benefits by more than half, to 12 weeks, during periods of low unemployment. Luke Sharrett | Bloomberg | Getty Images Demand for workers fell to its lowest level

Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021. Nina Westervelt | Bloomberg | Getty Images After years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power. Shipping giant FedEx last week

Grocery items are offered for sale at a supermarket on August 09, 2023 in Chicago, Illinois. Scott Olson | Getty Images When Kyle Connolly looks back at 2023, she sees it as a year defined by changes and challenges. The newly single parent reentered the workforce, only to be laid off from her job at

People shopping on Oxford Street in London. Picture date: Thursday December 29, 2022. (Photo by James Manning/PA Images via Getty Images) James Manning – Pa Images | Pa Images | Getty Images LONDON — The U.K. is edging closer to recession after revised figures showed the economy shrank in the previous quarter. U.K. gross domestic

A gauge the Federal Reserve uses for inflation rose slightly in November and edged closer to the central bank’s goal. The core personal consumption expenditures price index, which excludes volatile food and energy prices, increased 0.1% for the month, and was up 3.2% from a year ago, the Commerce Department reported Friday. Economists surveyed by

The U.K. and Switzerland are deepening the ties between their financial services sectors with a new post-Brexit deal. Sopa Images | Lightrocket | Getty Images LONDON — The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe’s largest banking centers closer together. British Finance Minister Jeremy

A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. Hollie Adams | Bloomberg | Getty Images LONDON — The Bank of England is all but certain to keep its main interest rate unchanged at 5.25% for a third consecutive meeting on Thursday, but economists are

Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Images FRANKFURT — The European Central Bank meets this week with investors closely monitoring to see when the Frankfurt institution might start to cut interest rates. It will be too early to declare victory in the battle against inflation, but with

BRUSSELS, BELGIUM – NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament’s Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023. (Photo by Dursun Aydemir/Anadolu via Getty Images) Anadolu | Anadolu | Getty Images The European Central Bank on Thursday held interest rates

Consumers showed unexpected strength in November, giving a solid start to the holiday season as inflation showed signs of continued easing. Retail sales rose 0.3% in November, stronger than the 0.2% decline in October and better than the Dow Jones estimate for a decrease of 0.1%, the Commerce Department reported Thursday. The total is adjusted

Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, November 1, 2023. Kevin Lamarque | Reuters The Federal Reserve dialed back its inflation projections on Wednesday, seeing its favorite gauge

Wholesale prices were flat in November, providing a leading indicator that inflation is easing, the Labor Department reported Wednesday. The producer price index, which measures a broad range of prices on final demand items, was unchanged for the month, following a 0.4% decrease in October but less than the Dow Jones estimate for a 0.1%

Prices across a broad range of goods and services edged higher in November but were mostly in line with expectations, further easing pressure on the Federal Reserve. The consumer price index, a closely watched inflation gauge, increased 0.1% in November, and was up 3.1% from a year ago, the Labor Department reported Tuesday. Economists surveyed

Markets are confused over the odds of a U.S. recession, and “somebody has got it wrong,” according to hedge fund manager David Neuhauser. The CIO of Livermore Partners told CNBC on Monday that many investors are hoping for a “Goldilocks” scenario, in which the economy doesn’t grow too quickly, or shrink too much. “The outlook