Economy

Another surge in energy prices pushed wholesale goods prices to their biggest one-month jump in record in February, according to Labor Department data released Tuesday. Final demand prices for goods jumped 2.4% for the month, the largest move ever in data going back to December 2009, the Bureau of Labor Statistics said. That pushed the

Forecasters have raised their outlooks for a recession and boosted their inflation projection as the Federal Reserve faces the quandary of fast-rising prices and greater uncertainty from Russia’s invasion of Ukraine, according to the latest CNBC Fed Survey. The probability of a recession in the U.S. was raised to 33% in the next 12 months,

A trader on the NYSE, March 11, 2022. Source: NYSE Investors may take the Federal Reserve’s first post-pandemic interest rate hike in stride, while uncertainty over the Ukraine crisis continues to hang over markets. The Fed has clearly broadcast that it intends to raise its target fed funds rate by a quarter percentage point from

In a first pass at gauging the economic impact from the Ukraine invasion, forecasters say the U.S. will grow more slowly with higher inflation, Europe’s economy will flirt near recession and Russia will plunge into a deep, double-digit decline. The CNBC Rapid Update, the average of 14 forecasts for the U.S. economy, sees GDP rising

A single family home is shown for sale in Encinitas, California. Mike Blake | Reuters After rising steadily for months, mortgage rates made a U-turn last week, and borrowers jumped to take advantage. The crisis in Ukraine rattled financial markets and caused a run on the relatively safer bond market. Yields fell and mortgage rates

Members of the Federal Reserve are debating how quickly to reduce the central bank’s portfolio of bonds, without starting a recession. Heading into the second quarter of 2022, the balance of Federal Reserve’s assets is almost $9 trillion. The majority of these assets are securitized holdings of government debt and mortgages. Most were purchased to

Inflation grew worse in February amid the escalating crisis in Ukraine and price pressures that became more entrenched. The consumer price index, which measures a wide-ranging basket of goods and services, increased 7.9% over the past 12 months, a fresh 40-year high for the closely followed gauge, according to the Labor Department’s Bureau of Labor

A house’s real estate for sale sign shows an upcoming open house in Washington, DC. Saul Loeb | AFP | Getty Images Mortgage demand stalled last week, as interest rates hit a multiyear high, but that will likely change quickly. Rates are now falling fast due to the Russian invasion of Ukraine. Mortgage application volume

A person walks by a sign advertising employment at a fast-food restaurant on November 05, 2021 in New York City. Spencer Platt | Getty Images Initial claims for unemployment insurance totaled 215,000, the lowest tally since the beginning of the year and fewer than Wall Street estimates, the Labor Department said Thursday. Economists surveyed by

Job growth accelerated in February, posting its biggest monthly gain since July as the employment picture got closer to its pre-pandemic self. Nonfarm payrolls for the month grew by 678,000 and the unemployment rate was 3.8%, the Labor Department’s Bureau of Labor Statistics reported Friday. That compared to estimates of 440,000 for payrolls and 3.9%

Residents outside a shopping mall during a break in curfew in Kyiv, Ukraine, on Tuesday, March 1, 2022. Erin Trieb | Bloomberg | Getty Images Rising inflation and global supply chain strains remain top of mind for retailers as they navigate the post-holiday earnings season. But also making its way into conversations with analysts and

A worker drills plywood on a single family home under construction in Lehi, Utah, on Friday, Jan. 7, 2022. George Frey | Bloomberg | Getty Images The economy was likely to have added jobs at a healthy pace in February and wages gains were strong. The February employment report, released at 8:30 a.m. Friday, is

Signage at a Job News USA career fair in Louisville, Kentucky, June 23, 2021. Luke Sharrett | Bloomberg | Getty Images Private job creation rose at a faster-than-expected clip in February, according to a count released Wednesday from payrolls processing firm ADP. Companies added 475,000 positions for the month, better than the Dow Jones estimate

Federal Reserve Board Chairman Jerome Powell speaking at a re-nomination hearing of the Senate Banking, Housing and Urban Affairs Committee, on January 11, 2022, in Washington, DC. Pool / Getty Federal Reserve Chairman Jerome Powell still sees interest rate hikes coming, but noted Wednesday that the Russia-Ukraine war has injected uncertainty into the outlook. In

A key inflation measure showed that prices rose at their fastest level in nearly 39 years, but it didn’t deter consumers from spending aggressively, the Commerce Department reported Friday. The core personal consumption expenditures price index, the Federal Reserve’s primary inflation gauge, rose 5.2% from a year ago, slightly more than the 5.1% Dow Jones

Weekly jobless claims came in slightly less than expected last week and economic growth to end 2021 was slightly better than originally reported, according to government data released Thursday. Initial filings for unemployment insurance totaled 232,000 for the week ended Feb. 19, the Labor Department said. That was a touch below the 235,000 Dow Jones

James Bullard Olivia Michael | CNBC NEW YORK — St. Louis Federal Reserve President James Bullard cautioned Thursday that without central bank action on interest rates, inflation could become an even more serious problem. “We’re at more risk now than we’ve been in a generation that this could get out of control,” he said during

A sold sign is posted in front of a home in Phoenix, Arizona. Justin Sullivan | Getty Images Sales of previously owned homes in January rose 6.7% from December to a seasonally adjusted annualized rate of 6.5 million units, according to the National Association of Realtors. That exceeded Wall Street expectations significantly. Sales were 2.3%