A customer shops at a Costco store on October 2, 2023 in San Francisco, California.Justin Sullivan | Getty ImagesConsumers showed surprising strength in September, boosting retail sales well above expectations despite high interest rates and worries over a weakening economy.Retail sales rose 0.7% on the month, well above the...
Patrick Harker President Federal Reserve Bank of Philadelphia, August 24, 2023.David A. Grogan | CNBCPhiladelphia Federal Reserve President Patrick Harker said Friday he thinks the central bank can stop raising interest rates."Absent a stark turn in what I see in the data and hear from contacts ... I believe...
Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. Marco Bello | ReutersJPMorgan Chase delivered strong profits for the third quarter along with a stern warning Friday from...
A construction in a multifamily and single family residential housing complex is shown in the Rancho Penasquitos neighborhood, in San Diego, California, September 19, 2023.Mike Blake | ReutersIn theory, getting inflation closer to the Federal Reserve's 2% target doesn't sound terribly difficult.The main culprits are related to services and...
A person goes through a note pad while shopping for items at a Costco Wholesale store on September 6, 2023 in Colchester, Vermont. Robert Nickelsberg | Getty ImagesPrices that consumers pay for a wide variety of goods and services increased at a slightly faster than expected pace in September, keeping...
The producer price index was expected to show a 0.3% increase in September, according to the Dow Jones consensus estimate.
New homes under construction in Miami, Florida, Sept. 22, 2023.Joe Raedle | Getty ImagesTop real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging housing costs and a "historic shortage" of available homes for sale.In a letter...
People pump gas into their vehicles at a Shell petrol station on October 2, 2023 in Alhambra, California. Frederic J. Brown | Afp | Getty ImagesThe U.S. economy has added more than 2.3 million jobs this year, the unemployment rate is still below 4% and there are nearly 10 million...
Job growth was stronger than expected in September, a sign that the U.S. economy is hanging tough despite higher interest rates, labor strife and dysfunction in Washington.Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000, the Labor Department said Friday in...
Columbia South Carolina, Chick-fil-A, fast food restaurant with sign advertising $15 an hour to be hospitable. Jeff Greenberg | Universal Images Group | Getty ImagesA strong jobs market could equal a weak stock market if current trends hold up.Friday's nonfarm payrolls report will provide a major test for Wall...