Economy

Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023.  Pool | Via Reuters U.S. Treasury Secretary Janet Yellen said the country can “absolutely” afford to financially support both Israel and Ukraine in their respective war efforts. President Joe Biden in a post on

Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023.  Marco Bello | Reuters JPMorgan Chase delivered strong profits for the third quarter along with a stern warning Friday from its top executive about

Patrick Harker President Federal Reserve Bank of Philadelphia, August 24, 2023. David A. Grogan | CNBC Philadelphia Federal Reserve President Patrick Harker said Friday he thinks the central bank can stop raising interest rates. “Absent a stark turn in what I see in the data and hear from contacts … I believe that we are

A construction in a multifamily and single family residential housing complex is shown in the Rancho Penasquitos neighborhood, in San Diego, California, September 19, 2023. Mike Blake | Reuters In theory, getting inflation closer to the Federal Reserve’s 2% target doesn’t sound terribly difficult. The main culprits are related to services and shelter costs, with

Prices that consumers pay for a wide variety of goods and services increased at a slightly faster-than-expected pace in September, keeping inflation in the spotlight for policymakers. The consumer price index, a closely followed inflation gauge, increased 0.4% on the month and 3.7% from a year ago, according to a Labor Department report Thursday. That

Israeli armuy soldiers deploy at a position near the border with Gaza in southern Israel on October 11, 2023. Menahem Kahana | AFP | Getty Images As Israel prepares for what could be a long war with massive humanitarian implications, there are also concerns about how a protracted fight could weigh on the country’s dynamic

A worker prints a label for a fire hose at the NewView Oklahoma facility in Oklahoma City, Sept. 16, 2021. Nick Oxford | Bloomberg | Getty Images A measure of wholesale prices rose more than expected in September, indicating simmering inflation pressures for the U.S. economy. The producer price index, which measures costs for finished

New homes under construction in Miami, Florida, Sept. 22, 2023. Joe Raedle | Getty Images Top real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging housing costs and a “historic shortage” of available homes for sale. In a letter Monday addressed to

Attendees arrive at the event campus on the opening day of the annual meetings of the International Monetary Fund (IMF) and World Bank in Marrakesh, Morocco, on Monday, Oct. 9, 2023. Bloomberg | Bloomberg | Getty Images The International Monetary Fund on Tuesday released its latest World Economic Outlook, which revised its forecast for U.S.

Image source: Jaromila | E+ | Getty Images Consumers are still splurging for a side of fries with their meals. That can have a positive read-through for the economy. Frozen potato supplier Lamb Weston Holdings has seen the share of consumers ordering the iconic side with fast food meals — known as the fry attachment

Job growth was stronger than expected in September, a sign that the U.S. economy is hanging tough despite higher interest rates, labor strife and dysfunction in Washington. Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000, the Labor Department said Friday in a much-anticipated report. The unemployment

The U.S. labor market saw broad gains in September in a surprisingly strong jobs report that sparked a quick sell-off in the bond market. The strongest sector for job growth in September was leisure and hospitality, according to the Bureau of Labor Statistics. The 96,000 net jobs gain last month was more than the combined

People pump gas into their vehicles at a Shell petrol station on October 2, 2023 in Alhambra, California.  Frederic J. Brown | Afp | Getty Images The U.S. economy has added more than 2.3 million jobs this year, the unemployment rate is still below 4% and there are nearly 10 million open positions out there

The U.S. unemployment rate held steady in September but ticked down among Hispanic workers, according to data released Friday by the U.S. Department of Labor. September’s nonfarm payrolls report showed a blockbuster month of higher numbers across the board. The economy added 336,000 jobs last month, blowing past the 170,000 estimate from economists polled by

A help wanted sign on a storefront in Ocean City, New Jersey, US, on Friday, Aug. 18, 2023. Surveys suggest that despite cooling inflation and jobs gains, Americans remain deeply skeptical of the president’s handling of the post-pandemic economy. Photographer: Al Drago/Bloomberg via Getty Images Al Drago | Bloomberg | Getty Images Inflation is “always

Columbia South Carolina, Chick-fil-A, fast food restaurant with sign advertising $15 an hour to be hospitable.  Jeff Greenberg | Universal Images Group | Getty Images A strong jobs market could equal a weak stock market if current trends hold up. Friday’s nonfarm payrolls report will provide a major test for Wall Street, which has been

Private payroll growth tailed off sharply in September, according to an ADP report Wednesday that provides a counterweight to other signs that the labor market is still running strong. The payroll processing firm said job growth totaled just 89,000 for the month, down from an upwardly revised 180,000 in August and below the 160,000 estimate

An economic indicator the Federal Reserve favors as an inflation gauge rose less than expected in August, showing that the central bank’s fight against higher prices is making progress The personal consumption expenditures price index excluding food and energy increased 0.1% for the month, lower than the expected 0.2% gain from the Dow Jones consensus