Economy

Construction workers on a job site on May 05, 2023 in Miami, Florida. Joe Raedle | Getty Images Watching the monthly jobs reports this year has been something of a waiting exercise, with economists and market participants looking for a downturn that never seems to arrive. That scenario is likely to recur Friday when the

The U.S. labor market posted another month of surprising strength in May as companies added jobs at a pace well above expectations, according to a report Thursday from payroll processing firm ADP. Private sector employment increased by a seasonally adjusted 278,000 for the month, ahead of the Dow Jones estimate for 180,000 and a bit

Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures a variety of goods and services and adjusts for changes in consumer behavior, rose 0.4% for the

Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City.  Michael M. Santiago | Getty Images A U.S. recession may prevent a steep market downturn in the second half of 2023, according to Michael Yoshikami, founder and CEO of Destination Wealth Management. U.S.

In this article NVDA .IXIC .SPX Follow your favorite stocksCREATE FREE ACCOUNT A Nvidia logo is seen on the company’s building at an industry park on February 7, 2019 in Tianjin, China. VCG | Visual China Group | Getty Images A blockbuster profit report Wednesday from Nvidia crystallized an important point for both markets and

Former Federal Reserve Board Chair Ben Bernanke speaks during a discussion on “Perspectives on Monetary Policy” during the Thomas Laubach Research Conference at the Federal Reserve Board building in Washington, DC, May 19, 2023. Saul Loeb | AFP | Getty Images WASHINGTON — Former Federal Reserve Chair Ben Bernanke, who guided the central bank and

A sign displays the price in pound sterling of food goods, including cucumbers, at a a fruit and vegetable market in stall east London on March 31, 2023. Susannah Ireland | Afp | Getty Images LONDON — After more than a year of warnings, Bank of England Governor Andrew Bailey says the U.K. is now

A woman stands in front of an empty retail space in lower Manhattan on April 17, 2017 in New York City. As American’s shopping habits continue to migrate online, brick-and-mortar stores across the country are closing at an increased rate. For the first time in nearly two years, retail sales declined two months in a

Woman making a cash withdrawal at an ATM. Getty Images Total consumer debt hit a fresh new high in the first quarter of 2023, pushing past $17 trillion even amid a sharp pullback in home borrowing. The total for borrowing across all categories hit $17.05 trillion, an increase of nearly $150 billion, or 0.9% during

A widely followed measure of inflation rose in April, despite more than a year’s worth of Federal Reserve interest rate increases. The consumer price index, which measures the cost of a broad swath of goods and services, increased 0.4% for the month, in line with the Dow Jones estimate, according to a Labor Department report

Janet Yellen, US Treasury secretary, during a news conference at the Group of Seven (G-7) finance ministers and central bank governors meeting in Niigata, Japan, on Thursday, May 11, 2023. Bloomberg | Bloomberg | Getty Images Treasury Secretary Janet Yellen said the idea of U.S. lawmakers letting the nation default on its debt should be

Michigan Avenue in Lansing, Michigan. Mike Kline (Notkalvin) | Moment | Getty Images Lansing, Michigan may never be the same. The city of just over 110,000 residents known for its towering state capitol building, large convention center and proximity to campuses is trying to reshape itself for a post-Covid world. It’s been more than three

German Finance Minister Christian Lindner hopes American lawmakers will be “mature” over the debt ceiling negotiations to avoid further headwinds for the global economy. U.S. Congress is trying to find a compromise on the debt limit — which refers to the maximum amount of money that the two chambers allow the federal government to borrow.

Wholesale prices rose less than expected in April, according to a Labor Department report Thursday that provides more hope that inflation is at least trending lower. The producer price index, a measure of prices for final demand goods and services, increased 0.2%, against the Dow Jones estimate for 0.3%. Excluding food and energy, core PPI

A member of the public walks through heavy rain near the Bank of England in May 2023. Dan Kitwood | Getty Images News | Getty Images LONDON — The U.K. economy grew by 0.1% in the first quarter, following an unexpected contraction in March, official figures showed on Friday. Economists polled by Reuters had forecast

Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller on Thursday cast doubt on the need for special focus on how banks are preparing for climate change risks. While acknowledging

Now Hiring signs are displayed in front of restaurants in Rehoboth Beach, Delaware, on March 19, 2022. Stefani Reynolds | Afp | Getty Images Since the onset of Covid-19, labor shortages have plagued major economies and intensified inflationary pressures, but economists expect this trend to finally abate this year. Central banks around the world have

Shoppers during the grand opening of a Costco Wholesale store in Kyle, Texas, on Thursday, March 30, 2023. Jordan Vonderhaar | Bloomberg | Getty Images Even with inflation running well above the Federal Reserve’s goal, markets became more convinced Wednesday that the central bank will be cutting interest rates by as soon as September. The