Economy

A trader works on the floor of the New York Stock Exchange (NYSE) as a screen shows Federal Reserve Board Chairman Jerome Powell during a news conference following a Fed rate announcement, in New York City, U.S., July 27, 2022.  Brendan Mcdermid | Reuters The U.S. Federal Reserve could be forced to pivot away from

The prices that producers receive for goods and services declined in August, a mild respite from inflation pressures that are threatening to send the U.S. economy into recession. The producer price index, a gauge of prices received at the wholesale level, fell 0.1%, according to a Bureau of Labor Statistics report Wednesday. Excluding food, energy

Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday. The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy

A person shops in a supermarket as inflation affected consumer prices in New York City, June 10, 2022. Andrew Kelly | Reuters For the better part of a year, the inflation narrative among many economists and policymakers was that it was essentially a food and fuel problem. Once supply chains eased and gas prices abated,

A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images Lower gas prices are raising optimism that inflation is on the decline, according to a survey Monday from the New York Federal Reserve. Respondents to the central bank’s August

Is the U.S. economy showing no signs of a recession or hurtling inescapably towards one? Is it in fact already in one?  More than a month after the country recorded two successive quarters of economic contraction, it still depends who you ask.  Steve Hanke, professor of applied economics at Johns Hopkins University, believes the U.S.

Nonfarm payrolls rose solidly in August amid an otherwise slowing economy, while the unemployment rate ticked higher as more workers rejoined the labor force, the Bureau of Labor Statistics reported Friday. The economy added 315,000 jobs for the month, just below the Dow Jones estimate for 318,000 and well off the 526,000 in July and

Historian Niall Ferguson warned Friday that the world is sleepwalking into an era of political and economic upheaval akin to the 1970s — only worse. Speaking to CNBC at the Ambrosetti Forum in Italy, Ferguson said the catalyst events had already occurred to spark a repeat of the 70s, a period characterized by financial shocks,

Commuters arrive at Grand Central station during morning rush hour in New York, Nov. 18, 2021. Jeenah Moon | Bloomberg | Getty Images The August jobs report showed the U.S. unemployment rate rise across the board. Meanwhile, Black workers marked the only demographic to see their labor force participation fall. The unemployment rate rose 0.2

“Quiet quitting” is having a moment. The trend of employees choosing to not go above and beyond their jobs in ways that include refusing to answer emails during evenings or weekends, or skipping extra assignments that fall outside their core duties, is catching on, especially among Gen Zers. Zaid Khan, 24, an engineer from New

The U.S. economy added another 315,000 payrolls in August, with jobs growth slowing overall but still widespread throughout the economy. The economy saw growth in all the key sectors and subsectors in August, led by a gain of 68,000 jobs in professional and business services. “The market will like the broad-based gains in jobs as

Initial filings for unemployment insurance fell to their lowest level since late June last week, a sign that the labor market is resilient amid a slowing economy. Claims totaled a seasonally adjusted 232,000 for the week ended Aug. 27, a decline of 5,000 from the previous period and the lowest since June 25, the Labor

A hiring sign is seen in a cafe as the U.S. Labor Department released its July employment report, in Manhattan, New York City, August 5, 2022. Andrew Kelly | Reuters Companies sharply slowed the pace of hiring in August amid growing fears of an economic slowdown, according to payroll processing company ADP. Private payrolls grew

A “Now Hiring” sign is posted at a Home Depot store on August 05, 2022 in San Rafael, California. Justin Sullivan | Getty Images There were nearly 1 million more job openings than expected in July, an inflationary sign that the U.S. labor market is still extremely tight, the Bureau of Labor Statistics reported Tuesday.

The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that’s not necessarily because of higher interest rates. “We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t

[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivers a speech at the central bank’s annual economic symposium in Jackson Hole, Wyoming, on Friday at 10.a.m. ET. Market participants have eagerly awaited Powell’s

The U.S. needs to return to the kind of economic and productivity growth it saw in mid-20th century to boost public spirits, according to a Nobel Prize-winning economist.  “We badly need to get back to economic growth,” Edmund S. Phelps, director of the Center on Capitalism and Society at Columbia University, told CNBC’s “Squawk Box

A customer shops for eggs in a Kroger grocery store on August 15, 2022 in Houston, Texas. Brandon Bell | Getty Images July’s consumer price index report finally showed a sign of potential relief – inflation ticked up less than expected from a year ago, and was flat on the month, meaning that a basket