Economy

Jim Dyson | Getty Images News | Getty Images The global economy does not need a “collapse” in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth. Major economies have proven surprisingly resilient to sharp interest rate increases

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2024.  Brendan Mcdermid | Reuters Markets have become less convinced that the Federal Reserve is ready to press the button on interest rate cuts, an issue that cuts at the heart of where the economy and

Shoppers walk past shops on Regent Street on the final weekday before Christmas in London on December 22, 2023. Henry Nicholls | Afp | Getty Images U.K. retail sales dropped significantly more than expected in December, in a sign that the economy may have entered a shallow recession in the second half of 2023. The

In this article AXP Follow your favorite stocksCREATE FREE ACCOUNT Stephen Squeri, chair and CEO of American Express, speaks during an Economic Club of New York event in New York on Nov. 10, 2022. Stephanie Keith | Bloomberg | Getty Images American Express CEO Stephen Squeri on Friday said the credit card company saw “good

An employer representative at a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. The Department of Labor is scheduled to release initial jobless claims figures on January 11.  Eric Thayer | Bloomberg | Getty Images Consumers have grown more confident about the direction of the economy and inflation

Raphael Bostic at Jackson Hole, Wyoming David A. Grogan | CNBC Atlanta Federal Reserve President Raphael Bostic expects policymakers to start cutting rates in the third quarter of this year, saying Thursday that inflation is well on its way back to the central bank’s goal. Bostic, a voting member this year on the rate-setting Federal

A networking and hiring event for professionals of color in Minneapolis, MN.  Michael Siluk | Getty Images The labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week. Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, the

Federal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its time relaxing monetary policy. The comments, delivered during a speech in Washington, D.C., seemed to counter market anticipation for aggressive easing this year. “As long as inflation doesn’t rebound and stay elevated,

Holiday shopping turned out even better than expected in December as shoppers picked up the pace to close out a strong 2023, the Commerce Department reported Wednesday. Retail sales increased 0.6% for the month, buoyed by a pickup in clothing and accessory stores as well as online nonstore businesses. The results were better than the

Javier Ghersi | Moment | Getty Images Corporate debt defaults soared last year and could be a problem again in 2024 as cash-strapped companies deal with the burden of high interest rates, S&P Global Ratings reported Tuesday. The number of companies that failed to make required payments on their debt totaled 153 for 2023, up

German Chancellor, Olaf Scholz arrives for the weekly federal government cabinet meeting on Oct. 11, 2023 in Berlin, Germany. Michele Tantussi | Getty Images News | Getty Images Europe’s largest economy contracted by 0.3% year-on-year in 2023, as high inflation and firm interest rates bit into growth, the Federal Statistical Office of Germany said Monday. The estimate

Saudi Arabia nearly doubled the estimate for the value of its mineral resources and is seeing lucrative deals signed during its Future Minerals Forum held in Riyadh this week, ministers told CNBC. Estimates for the kingdom’s untapped mineral reserves have jumped from $1.3 trillion in a 2016 forecast to $2.5 trillion, according to Saudi Mineral Resources

People carry shopping bags as they visit a department store during the holiday season in New York City. Eduardo Munoz | Reuters Retailers chalked up solid gains in the final month to wrap up the holiday season, according to the CNBC/NRF Retail Monitor for December. However, the data also shows the true state of consumer

Prices that consumers pay for a variety of goods and services rose more than expected in December, according to a Labor Department measure Thursday that shows inflation still holding a grip on the U.S. economy. The consumer price index increased 0.3% for the month, higher than the 0.2% estimate at a time when most economists

Wholesale prices unexpectedly declined in December, providing a positive signal for inflation, the Labor Department reported Friday. The producer price index fell 0.1% for the month and ended 2023 up 1% from a year ago, the Labor Department reported Friday. Economists surveyed by Dow Jones had been expecting a monthly gain of 0.1%. The index

Ongoing disruption to trade flows through the Red Sea could hit global economic growth, the head of one of the world’s largest container shipping firms said Thursday. Maersk CEO Vincent Clerc said it remained unclear whether passage through the waterway would be re-established in “days, weeks or months,” in comments first provided to the Financial

The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023. Nathan Howard | Bloomberg | Getty Images The U.S. government ran up another half a trillion dollars in red ink in the first quarter of its fiscal year, the Treasury Department reported Thursday. For the period from October 2023 through December 2023, the budget

Vanishing Turkish Currency: 1 Turkish Lira with the Portrait of Kemal AtatürkTurkish Manuel Augusto Moreno | Moment | Getty Images The Turkish lira hit a fresh record low against the U.S. dollar on Thursday, trading at 30.005 to the greenback just before noon local time. It marks the first time that the lira has broken