Shoppers walk near a Nordstrom store at the Westfield UTC shopping center on Jan. 31, 2025 in San Diego, California.Kevin Carter | Getty ImagesConsumer confidence dimmed further in March as the view of future conditions fell to the lowest level in more than a decade, the Conference Board reported...
U.S. dollar banknotes and a label with the word "Recession" are seen in this illustration taken March 19, 2025. Dado Ruvic | ReutersChances that the U.S. is heading for a recession are close to 50-50, according to a Deutsche Bank survey that raises more questions about the direction of the...
Chicago Federal Reserve President Austan Goolsbee said Friday he still sees interest rate cuts in the cards though risks are rising to that outlook.Speaking two days after he and his colleagues again voted to keep short-term rates steady, Goolsbee told CNBC that he's been hearing more concerns from businesses...
U.S. President Donald Trump reacts as he meets NATO Secretary General Mark Rutte (not pictured), in the Oval Office at the White House in Washington, D.C., U.S., March 13, 2025. Evelyn Hockstein | ReutersAfter largely staying out of the Federal Reserve's business during his first two months in office, President...
The "good ship Transitory," despite an ominous record, appears ready to sail again for the Federal Reserve.Economic projections the central bank released Wednesday indicate that while officials see inflation moving up this year more rapidly than previously expected, they also expect the trend to be short-lived. The outlook spurred...
Bank of America CEO Brian Moynihan said Wednesday that consumers are continuing to spend and economic growth should be solid though slower this year.Despite surveys indicating that confidence is at a nearly three-year low amid increasing worries about inflation, Moynihan told CNBC that spending data shows consumers are still...
US Federal Reserve Chairman Jerome Powell reacts as he speaks during a news conference at the end of the two-day Federal Open Market Committee (FOMC) meeting at the Federal Reserve in Washington, DC, on Jan. 29, 2025.Andrew Caballero-Reynolds | AFP | Getty ImagesFederal Reserve officials at this week's meeting...
A sign hangs above the entrance of a Hermes retail store on Feb. 14, 2025 in Chicago, Illinois.Scott Olson | Getty ImagesConsumers spent at a slower than expected pace in February, though underlying readings indicated that sales still grew at a solid pace despite worries over an economic slowdown...
Consumer sentiment took another hit in March as worries intensified over inflation and a slumping stock market, according to the University of Michigan's latest sentiment survey released Friday.The survey posted a mid-month reading of 57.9, which represents a 10.5% decline from February and was below the Dow Jones consensus...
Watermelons from Mexico are displayed on a shelf at a Target store on March 5, 2025 in Novato, California.Justin Sullivan | Getty ImagesOn the surface, February's inflation data released this week brought some encouraging news. But underneath, there were signs likely to keep the Federal Reserve on hold when...