Economy

Federal Reserve officials indicated at their last meeting that the pace of asset purchases is unlikely to change anytime soon while the central bank pursues its economic goals. The Federal Open Market Committee on Wednesday released minutes from the March 16-17 meeting as investors looked for indications about where policy may be heading in the

Adewale Adeyemo, Treasury Secretary Janet Yellen’s deputy, on Wednesday said increasing the U.S. corporate tax rate to 28% will not make American companies less competitive, because the Biden administration is confident it can win the support of developed nations to set a minimum tax worldwide. “We’ve worked very closely with our international counterparts to counter

Federal Reserve Governor Lael Brainard said that while U.S. economic outlook has “brightened considerably,” it remains well away from the central bank’s goals. “Brighter outlook, but of course our monetary policy forward guidance is premised on outcomes not the outlook, and so it is going to be some time before both employment and inflation have

First-time claims for unemployment insurance rose more than expected last week despite other signs of healing in the jobs market, the Labor Department reported Thursday. First-time claims for the week ended April 3 totaled 744,000, well above the expectation for 694,000 from economists surveyed by Dow Jones. The total represented an increase of 16,000 from

Chairman of the Federal Reserve Jerome Powell listens during a Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh | Reuters As the economy booms over the next couple of months, the Fed will have a more difficult time defending its

Jamie Dimon, CEO of JP Morgan Chase, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019. Adam Galica | CNBC Jamie Dimon is bullish on the U.S. economy – at least for the next few years. Dimon, the long-serving JPMorgan Chase CEO and chairman, sees strong growth ahead for the world’s biggest

The Inn of Rosslyn, which is permanently closed due to pressure from the Covid-19 pandemic, on Feb. 5, 2021 in Arlington, Virginia. Liu Jie/Xinhua via Getty Images Nearly a quarter of all unemployed workers in the U.S. have been out of work for at least a year, a stretch of joblessness dating to the early

Loretta Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland. David Paul Morris | Bloomberg | Getty Images March’s strong job gains weren’t enough to convince Cleveland Federal Reserve President Loretta Mester that it’s time to change monetary policy. The central bank official told CNBC on Monday that she welcomed news

President Joe Biden talks to reporters on the South Lawn of the White House, in Washington, U.S., March 14, 2021. Cheriss May | Reuters President Joe Biden said Monday that he is not worried that a plan to increase corporate America’s tax bill would dampen the U.S. economy as it emerges from the Covid-19 pandemic.

Waiter Boris Macquin serves customers behind plexiglass outside at Figaro Bistro on the first day Los Angeles County allows indoor seating since the coronavirus pandemic on March 15, 2021 in Los Angeles, California. Gina Ferazzi | Los Angeles Times | Getty Images Private payrolls in March expanded at the fastest pace since September as anticipation

In this article @1YM21M First-time claims for jobless benefits were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday. The total compared with the 675,000 estimate from Dow Jones and was above last week’s downwardly revised 658,000. Zoom In IconArrows pointing outwards While the number

Job growth boomed in March at the fastest pace since last summer, as stronger economic growth and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs, the Labor Department reported Friday. Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%. Economists surveyed by Dow Jones

An operator stacks heavy gauge steel brace used for industrial workbench leg at Tennsco’s factory in Dickson, Tennessee, U.S. February 17, 2021. Tennsco | via Reuters March brought the strongest manufacturing growth in more than 37 years, and with it increasing indications about inflation pressures in the months ahead. The Institute for Supply Management’s monthly

Executive Sous Chef Judith Cooper carves a turkey at Rosa Mexicano’s near Lincoln Center in New York City. Alexi Rosenfeld | Getty Images Americans are beginning to return to the workforce in big numbers, and that is likely to show up in the March employment report. Economists polled by Dow Jones expect to see 675,000

A sale pending sign is posted in front of a home for sale on July 17, 2014 in San Francisco, California. Justin Sullivan | Getty Images The U.S. housing market is suffering from its lowest supply in history, and that is taking an increasingly hard toll on sales. Pending home sales, a measure of signed

In the U.S., a consumer that represents 70% of the economy is seen as key to a continued recovery, and confidence surged in March to its highest level since the pandemic began. cihatatceken | iStock | Getty Images Covid cases and variants are rising, but in the race between the vaccines and virus, chief financial

An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Home price gains are accelerating at an alarming pace, fueled by Covid pandemic-related inflation, which some claim is not getting enough attention from the Federal Reserve. Home prices nationally

Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, listens during a Senate Banking Committee confirmation hearing in Washington, D.C., on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images The Federal Reserve is not keeping monetary policy easy so the government can continue running up debts and deficits,