Economy

Economy Fed's Waller says he's open to a half-point rate hike at December meeting

Christopher Waller testifies before the Senate Banking, Housing and Urban Affairs Committee during a hearing on their nomination to be member-designate on the Federal Reserve Board of...

Economy The world needs more economic alliances than security ones, analyst says

Countries should strike up more economic alliances than security and defense ones, as those could make the world "more dangerous," the president of the Center for China and Globalization said on...

Economy Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says

Luis Alvarez | Digitalvision | Getty Images Households increased debt during the third quarter at the fastest pace in 15 years due to hefty increases in credit card usage and...

Economy Wholesale prices rose 0.2% in October, less than expected, as inflation eases

Wholesale prices increased less than expected in October, adding to hopes that inflation is on the wane, the Bureau of Labor Statistics reported Tuesday. The produce price...

Economy Fed Vice Chair Brainard says it may 'soon' be appropriate to move to slower pace of rate hikes

Lael Brainard, vice chair of the US Federal Reserve, listens to a question during an interview in Washington, DC, US, on Monday, Nov. 14, 2022. Andrew Harrer | Bloomberg | Getty Images...

Economy Inflation expectations rebounded in October on record-high jump in gas outlook, NY Fed survey shows

A Sheetz customer gets gasoline at a gas station in Plains, Pennsylvania, U.S. October 19, 2022.  Aimee Dilger | Reuters Americans grew more worried about inflation in the...

Economy Even with slower inflation, consumer sentiment weakened sharply in November, survey shows

Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia. Elijah Nouvelage | AFP | Getty Images Higher interest rates, a potential recession and...

Economy UK on the brink of recession after economy contracts by 0.2% in the third quarter

The Bank of England has warned that the U.K. is facing its longest recession since records began a century ago. Huw Fairclough | Getty Images News | Getty Images LONDON — The...

Economy Fed officials welcome inflation news but still see tighter policy ahead

Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, March 29, 2022. Andrew Kelly | Reuters Federal Reserve officials welcomed Thursday's news...

Economy Consumer prices rose 0.4% in October, less than expected, as inflation eases

The consumer price index rose less than expected in October, an indication that while inflation is still a threat to the U.S. economy, pressures could be starting to cool. The...

Economy Consumer confidence is near its lowest in a decade, and that could be a problem for Biden

US President Joe Biden speaks during a DNC rally in Miami Gardens, Florida, US, on Tuesday, Nov. 1, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Anxiety over the cost of...

Economy Here's where the jobs are for October 2022 — in one chart

Jobs growth came in better than expected in October thanks in part to strong gains in the manufacturing, health-care, and professional and business services sectors. Manufacturing jobs...

Economy The unemployment rate for Black men fell in October, but so did labor force participation

A Now Hiring sign at a Dunkin' restaurant on September 21, 2021 in Hallandale, Florida. Joe Raedle | Getty Images The unemployment rate for Black men ticked down in October while...

Economy U.S. payrolls surged by 261,000 in October, better than expected as hiring remains strong

Job growth was stronger than expected in October despite Federal Reserve interest rate increases aimed at slowing what is still a relatively strong labor market. Nonfarm...

Economy Labor costs show slower rise, while trade deficit widens and jobless claims nudge lower

The cost of labor rose less than expected, but low productivity helped keep the pressure on inflation in the third quarter, according to Labor Department data released...

Economy Private payrolls rose 239,000 in October, better than expected, while wages increased 7.7%, ADP says

Private payroll growth held strong in October while worker pay rose as well, particularly in the leisure and hospitality industry, according to a report Wednesday from payroll...

Economy Job openings surged in September despite Fed efforts to cool labor market

The Go! Go! Curry restaurant has a sign in the window reading "We Are Hiring" in Cambridge, Massachusetts, July 8, 2022. Brian Snyder | Reuters Job openings surged in September...

Economy U.S. consumer spending seeing a 'mitigation' in growth not a slowdown, says Bank of America CEO

U.S. consumer spending is experiencing a "mitigation of growth" but not a slowdown, Bank of America CEO Brian Moynihan said Friday. Interest rate hikes by the Federal Reserve...

Economy Key inflation gauge for the Fed rose 0.5% in September, in line with expectations

Halloween candy is for sale at a Harris Teeter grocery store on October 17, 2022 in Washington, DC. Drew Angerer | Getty Images An economic gauge that the Federal Reserve follows...

Economy U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive

The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing recession fears, the Bureau of Economic Analysis reported...