Economy

A worker assists with checkout at a Costco store in Teterboro, New Jersey, on Feb. 28, 2024. Stephanie Keith | Bloomberg | Getty Images Retail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation. Sales rose just 0.1% on the month, one-tenth of a percentage point

General view of the Bank Of England building in London.  Sopa Images | Lightrocket | Getty Images LONDON — The Bank of England on Thursday opted to keep interest rates steady at its June meeting, but described the decision as “finely balanced” after U.K. inflation hit its 2% target. Markets nudged bets on an August

IMF Managing Director Kristalina Georgieva arrives at a briefing in Washington, D.C., on Friday, April 19, 2024. Bloomberg | Bloomberg | Getty Images The head of the International Monetary Fund on Thursday called on Europe to achieve the full potential of its prized single market, lamenting what she described as a situation that makes the

A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024.  Denis Balibouse | Reuters The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed

Participants during the snowboarding activity with the Hoods to Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024. Danielle DeVries | CNBC EAST RUTHERFORD, N.J. — For 16-year-old Zyshawn Gibson, snowboarding down the indoor ski park at Big Snow American Dream in East Rutherford, New Jersey, was a

Shoppers on the high street in the Kingston district of London, U.K. Bloomberg | Bloomberg | Getty Images U.K. inflation fell to the Bank of England’s target of 2.0% in May, the Office for National Statistics said Wednesday, in the last print of the key economic measure ahead of national elections in July. The headline

Economist Claudia Sahm on CNBC’s The Exchange. CNBC The Federal Reserve is risking tipping the economy into contraction by not cutting interest rates now, according to the author of a time-tested rule for when recessions happen. Economist Claudia Sahm has shown that when the unemployment rate’s three-month average is half a percentage point higher than

Treasury Secretary Janet Yellen on Thursday said the swelling national debt is manageable as long as it stays around where it is relative to the rest of the economy. In a CNBC interview, Yellen also noted that high interest rates are adding to the burden as the U.S. manages its massive $34.7 trillion debt load.

The Bank of Japan is largely expected to hold interest rates steady at the end of its 2-day meeting ending June 14, 2024. Seen here, the Japanese flag flying high at the BOJ headquarters in Tokyo. Kazuhiro Nogi | Afp | Getty Images The Bank of Japan kept its benchmark interest rate unchanged on Friday,

A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back. The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That reversed

Salvage crews continue to work on removing debris from the Francis Scott Key Bridge collapse after it was struck by the container ship Dali, now docked at Seagirt Marine Terminal in Baltimore. (Jerry Jackson/Baltimore Sun/Tribune News Service via Getty Images) Jerry Jackson | Baltimore Sun | Getty Images The main passageway into the Baltimore port

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The CPI, a broad inflation gauge that measures a basket of goods and services costs across the U.S. economy, held flat on the month though it increased 3.3% from a

New high rise tower blocks under construction and old towers in Rotherhithe and beyond to Bermodsey seen over the River Thames on 16th January 2024 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images LONDON — U.K. economic growth ground to a halt in April, according to flash figures published on Wednesday,

Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the conference celebrating the Centennial of the Division of Research and Statistics, Board of Governors of the Federal Reserve System in Washington D.C., United States on November 08, 2023. (Photo by Celal Gunes/Anadolu via Getty Images) Celal Gunes | Anadolu | Getty Images Wednesday is

Samantha McCloud, 16, left, Victoria Garcia, 16, Jessel Rincon, 16, at college and career fair at Temple City High School on Saturday, Oct. 21, 2023 in Temple City, CA. Irfan Khan | Los Angeles Times | Getty Images After receiving a graduate degree, Julianna Larock was bombarded with news about the powerful labor market and

Liu Jie/Xinhua via Getty Images Investors will be looking to May’s nonfarm payrolls report for more clarity on whether the Federal Reserve can ease up in its battle against inflation. Economists surveyed by Dow Jones expect the Bureau of Labor Statistics to report that the U.S. economy added 190,000 more jobs on the month, which

The U.S. economy added far more jobs than expected in May, countering fears of a slowdown in the labor market and likely reducing the Federal Reserve’s impetus to lower interest rates. Nonfarm payrolls expanded by 272,000 for the month, up from 165,000 in April and well ahead of the Dow Jones consensus estimate for 190,000,

Russia’s President Vladimir Putin gestures as he delivers a speech during the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 7, 2024. Anton Vaganov | Afp | Getty Images Russian President Vladimir Putin said Friday that nearly 40% of the country’s trade turnover is now in rubles as the share conducted in