Economy

US Federal Reserve Chairman Jerome Powell gives a press briefing after the surprise announcement the FED will cut interest rates on March 3, 2020 in Washington, DC. Eric Baradat | AFP | Getty Images Federal Reserve Chairman Jerome Powell is a heavy favorite on Wall Street to be renominated for a second term by President

U.S. President Joe Biden speaks as he announces executive actions on gun violence prevention in the Rose Garden at the White House in Washington, April 8, 2021. Kevin Lamarque | Reuters Americans broadly back the big-ticket spending proposals that have defined President Joe Biden‘s first 100 days in office, a variety of recent polls show.

President Joe Biden’s plans to bolster the U.S. economy will help the country compete with China’s massive Belt and Road Initiative, former Treasury Secretary Jacob Lew said on Wednesday. The Belt and Road Initiative is China’s ambitious program to build physical and digital infrastructure that connects hundreds of countries from Asia to the Middle East, Africa

A home stands for sale in a Brooklyn neighborhood with a limited supply of single family homes on March 31, 2021 in New York City. Spencer Platt | Getty Images Closed sales of existing homes fell 3.7% in March to a seasonally adjusted annualized rate of 6.01 million units, according to the National Association of

China laid out seven “frontier” technologies in its 14th Five Year Plan. These are areas that China will focus research on and include semiconductors and brain-computer fusion. Yuichiro Chino | Moment | Getty Images Economic growth could slow and inflation is likely to see at least a momentary bump higher as the semiconductor shortage worsens,

In an aerial view, workers with the San Francisco Department of Public Works repave a section of 24th Avenue on April 08, 2021 in San Francisco, California. Justin Sullivan | Getty Images Weekly unemployment claims fell to a new pandemic era low for a second week, suggesting the turn in the labor market is picking

A child runs past a wall mural depicting healthcare workers wearing face masks along a road in New Delhi, India on March 21, 2021. Sajjad Hussain | AFP | Getty Images SINGAPORE — The Covid-19 pandemic has shaken up the ranking of the world’s largest economies after sending many countries into their worst economic recessions

In this article .DJUSSD The U.S. jobs market recovery accelerated its pace last week as fewer Americans headed to the unemployment line, the Labor Department reported Thursday. First-time claims for unemployment insurance totaled 547,000, which was below the Dow Jones estimate for 603,000 and a new low for the Covid-19 pandemic era. Zoom In IconArrows

In this article ERBCX Speculation over the direction inflation will take continues to dog markets, but there is a growing body of strategists that believe investors are underestimating the outlook for consumer prices. David Roche, president of investment firm Independent Strategy, is among them. He told CNBC Wednesday that he believed the U.S. inflation rate,

A “For Sale” sign outside a house in Palm Beach, Florida, on Wednesday, April 7, 2021. Marco Bello | Bloomberg | Getty Images A sharp drop in mortgage interest rates sent homeowners and potential homebuyers to their mortgage lenders. Total mortgage application volume surged 8.6% last week compared with the previous week, according to the

Construction worker make infrastructure repairs on the intersection of Church Avenue and Coney Island Avenue in the Flatbush neighborhood of Brooklyn borough on April 06, 2021 in New York City. Michael M. Santiago | Getty Images The setting for 2021 seems clear: A powerful growth trajectory fueled by an influx of government spending as the

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., gestures while speaking during a Bloomberg Television interview at the JPMorgan Global Markets Conference in Paris, France, on Thursday, March 14, 2019. Christopher Morin | Bloomberg | Getty Images Government stimulus programs aimed at reducing suffering during the coronavirus pandemic have left consumers flush with

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, December 1, 2020. Susan Walsh | Pool | Reuters The U.S. economy is at a turning point thanks to government support and a speedy campaign to inoculate Americans against Covid-19,

Rick Nazarro of Colonial Manor Realty talks with a pair of interested buyers in the driveway as a couple waits to enter a property he is trying to sell during a “controlled” open house on May 2, 2020 in Revere, MA. Blake Nissen | Boston Globe | Getty Images The housing market has been white

Consumer prices shot higher in March, given a boost both by a strong economic recovery and year-over-year comparisons to a time when the Covid-19 pandemic was about to throttle the U.S. economy, the Labor Department reported Tuesday. The consumer price index rose 0.6% from the previous month but 2.6% from the same period a year

While the number of Americans struggling to put food on the table and pay bills fell last month, new data shows that millions are still feeling the financial effects of the Covid-19 pandemic.  The third round of stimulus payments started to hit bank accounts on March 12, so it’s not surprising that the number of

Federal Reserve Chairman Jerome Powell Kevin Lamarque | Reuters Despite what he sees as a rapidly recovering economy, Federal Reserve Chairman Jerome Powell on Sunday reaffirmed the central bank’s commitment to keep loose monetary policy on place. That includes a statement of near-certainty that interest rates won’t be going anywhere as inflation remains tame and

For the week ending on March 21, there were around 684,000 new unemployment claims across the country, according to WalletHub. That’s down significantly from April 2020, when 6.6 million first-time claims were made in just one week. But some states are recovering faster than others. WalletHub determined which states saw the number of unemployment claims