Economy

Tumult in mid-sized institutions caused banks to tighten lending standards both to households and businesses, potentially posing a threat to U.S. economic growth, according to a Federal Reserve report Monday. The Fed’s quarterly Senior Loan Officer Opinion survey said requirements got tougher for commercial and industrial loans as well as for many household-debt instruments such

John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, November 6, 2019. Carlo Allegri | Reuters NEW YORK — New York Federal Reserve President John Williams on Tuesday cautioned that interest rate increases will take a while to work their way through the economy

The Federal Reserve in Washington, D.C. Wysiati | E+ | Getty Images Banking system pressures, real estate stress and persistent inflation top worries about financial stability, though the system overall remains stable, the Federal Reserve said in a report Monday. The central bank issued its periodic report on the nation’s financial and economic health, a

People walk in front of a store along the Magnificent Mile shopping district on March 15, 2023 in Chicago, Illinois. Scott Olson | Getty Images Household spending is expected to decrease significantly over the next year, according to a New York Federal Reserve survey released Monday that reflects downbeat consumer sentiment as well as a

Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday. Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates for growth of 180,000, according to the Bureau of Labor Statistics. The unemployment rate was 3.4% against an estimate for 3.6% and tied for

The Good Brigade | Digitalvision | Getty Images The unemployment rate slipped for Black and Hispanic workers in April, but remained stable for Asian American workers. The U.S. unemployment rate inched down to 3.4% last month, according to the U.S. Bureau of Labor Statistics. The number not only marked a decrease from 3.5% in March,

Broad job gains across the economy helped the labor market show resilience in the face of a banking crisis and growing recessionary concerns. Nonfarm payrolls increased by 253,000 in April, according to data from the Bureau of Labor Statistics released Friday. That’s more than the Dow Jones estimate of 180,000. Friday’s data bolsters the argument

Federal Reserve Board Chair Jerome Powell holds a news conference after the Fed raised interest rates by a quarter of a percentage point following a two-day meeting of the Federal Open Market Committee (FOMC) on interest rate policy in Washington, March 22, 2023. Leah Millis | Reuters After the rescue of First Republic Bank by

Hiring at private companies unexpectedly swelled in April, countering expectations for a cooling job market ahead, payroll processing firm ADP reported Wednesday. Private payrolls rose by 296,000 for the month, above the downwardly revised 142,000 the previous month and well ahead of the Dow Jones estimate for 133,000. The gain was the highest monthly increase

An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, April 7, 2023. Elizabeth Frantz | Reuters Employment openings pulled back further in March, hitting a nearly two-year low in a sign that the ultra-tight U.S. jobs market is loosening up and possibly putting less pressure

In this article AAPL Follow your favorite stocksCREATE FREE ACCOUNT Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York City.  Michael M. Santiago | Getty Images JPMorgan Chase’s takeover of First Republic likely ends the panic phase of the banking crisis, with the fallout left to

A pedestrian inspects advertisements for residential properties for sale in Stockholm, Sweden. Bloomberg | Bloomberg | Getty Images STOCKHOLM, Sweden — The International Monetary Fund warned Friday of “disorderly” house price corrections in Europe, at a time when the region is struggling to bring down inflation. In its latest regional economic outlook for Europe, the

Despite a year’s worth of interest rate increases, inflation rose again in March, according to economic data released Friday that the Federal Reserve watches closely. The personal consumption expenditures price index excluding food and energy increased 0.3% for the month, in line with the Dow Jones estimate. On an annual basis, so-called core PCE increased

Skyscrapers of the city center can be seen from the Lohrberg in the north of Frankfurt. Photo: Arne Dedert/dpa (Photo by Arne Dedert/picture alliance via Getty Images) Picture Alliance | Picture Alliance | Getty Images The euro zone economy grew by a marginal 0.1% in the first quarter of the year, preliminary figures showed on

Growth in the U.S. slowed considerably during the first three months of the year as interest rate increases and inflation took hold of an economy largely expected to decelerate even further ahead. Gross domestic product, a measure of all goods and services produced for the period, rose at a 1.1% annualized pace in the first

People walk by the New York Stock Exchange (NYSE) on February 14, 2023 in New York City. Spencer Platt | Getty Images A banking crisis that erupted less than two months ago now appears to be less a major broadside to the U.S. economy than a slow bleed that will seep its way through and

The latest U.S. economic data suggests a recession is coming, according to the chief executive of financial advisory firm Longview Economics, and investors may need to prepare for some pain in the stock market. Speaking to CNBC’s “Squawk Box Europe” on Friday, Chris Watling said he believed a recession was on its way, citing what

A home in Lynch, Kentucky. Scott Olson | Getty Images The banking turmoil of March, which saw the collapse of several regional U.S. lenders, will lead to a credit crunch for “small-town America,” according to veteran strategist David Roche. The collapse of Silicon Valley Bank and two other small U.S. lenders last month triggered contagion