Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report Friday.Retail sales slipped 0.9% for the month from an upwardly revised 0.7% gain in December, even worse than the Dow Jones estimate for a 0.2% decline. The sales...
A gauge of wholesale prices rose more than expected in January, though some details of the report indicated that pipeline inflation pressures are easing.The producer price index, which measures what producers get for their goods and services, increased by a seasonally adjusted 0.4% on the month, compared with the...
Cartons of eggs are displayed at a grocery store with a warning that limits will be placed on purchases as bird flu continues to affect the egg industry on Feb. 10, 2025 in New York City. Spencer Platt | Getty ImagesA Federal Reserve interest rate cut won't be coming until...
A supermarket shopper walks past a display of eggs for sale on Feb. 10, 2025 in Monterey Park, California.Frederic J. Brown | AFP | Getty ImagesInflation perked up more than anticipated in January, providing further incentive for the Federal Reserve to hold the line on interest rates.The consumer price...
Cartons of eggs are displayed at a grocery store with a warning that limits will be placed on purchases as bird flu continues to affect the egg industry on Feb. 10, 2025 in New York City.Spencer Platt | Getty ImagesThe January consumer price index report is likely to tell...
People shop at a Whole Foods store on Feb. 3, 2025 in New York City.Michael M. Santiago | Getty ImagesConsumers grew dramatically more worried about near-term inflation as President Donald Trump pushed aggressive tariffs against major U.S. trading partners, a closely watched survey showed Friday.The University of Michigan consumer...
Minneapolis Federal Reserve President Neel Kashkari said Friday he expects to see interest rates lower this year if the economic data continues to move in the same direction.In a CNBC interview, the central bank official expressed confidence that inflation will continue to drift down to the Fed's 2% target,...
A hiring sign is displayed in the window of a Chipotle on August 22, 2024 in Alexandria, Virginia. Anna Rose Layden | Getty ImagesJob creation was weaker than expected in January, the Bureau of Labor Statistics reported Friday.Nonfarm payrolls rose by a seasonally adjusted 143,000 for the month, down from...
A hiring sign is posted on the door of a Taco Bell on August 22, 2024 in Alexandria, Virginia. Anna Rose Layden | Getty ImagesThe U.S. labor market likely began 2025 in solid fashion, if a bit of a step down from where it closed the previous year.When the Bureau...
U.S. Secretary of the Treasury Scott Bessent speaks, at the White House, in Washington, U.S. February 3, 2025. Elizabeth Frantz | ReutersThe Trump administration is more focused on keeping Treasury yields low rather than on what the Federal Reserve does, Treasury Secretary Scott Bessent said Wednesday.While in the past Trump...