Consumers shop in Rosemead, California, on Dec. 12, 2023.Frederic J. Brown | Afp | Getty ImagesEconomic growth likely slowed to its weakest pace in a year and a half to end 2023, possibly setting the stage for a more pronounced slowdown ahead, according to Wall Street economists.The consensus outlook...
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2024. Brendan Mcdermid | ReutersMarkets have become less convinced that the Federal Reserve is ready to press the button on interest rate cuts, an issue that cuts at the heart of...
An employer representative at a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. The Department of Labor is scheduled to release initial jobless claims figures on January 11. Eric Thayer | Bloomberg | Getty ImagesConsumers have grown more confident about the direction of...
Raphael Bostic at Jackson Hole, WyomingDavid A. Grogan | CNBCAtlanta Federal Reserve President Raphael Bostic expects policymakers to start cutting rates in the third quarter of this year, saying Thursday that inflation is well on its way back to the central bank's goal.Bostic, a voting member this year on...
A networking and hiring event for professionals of color in Minneapolis, MN. Michael Siluk | Getty ImagesThe labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week.Initial filings for unemployment insurance totaled 187,000 for the week ended...
Holiday shopping turned out even better than expected in December as shoppers picked up the pace to close out a strong 2023, the Commerce Department reported Wednesday.Retail sales increased 0.6% for the month, buoyed by a pickup in clothing and accessory stores as well as online non-store businesses. The...
Javier Ghersi | Moment | Getty ImagesCorporate debt defaults soared last year and could be a problem again in 2024 as cash-strapped companies deal with the burden of high interest rates, S&P Global Ratings reported Tuesday.The number of companies that failed to make required payments on their debt totaled...
Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022.Al Drago | Bloomberg | Getty ImagesFederal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its...
A customer shops for milk at a grocery store on December 12, 2023 in San Anselmo, California. Justin Sullivan | Getty Images News | Getty ImagesWholesale prices unexpectedly declined in December, providing a positive signal for inflation, the Labor Department reported Friday.The producer price index fell 0.1% for the month...
The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023.Nathan Howard | Bloomberg | Getty ImagesThe U.S. government ran up another half a trillion dollars in red ink in the first quarter of its fiscal year, the Treasury Department reported Thursday.For the period from October 2023 through December...