Austan Goolsbee speaking at Jackson Hole on August 23, 2024. David A. Grogan | CNBCFederal Reserve officials take great pains not to comment on fiscal policy, but the looming threat from tariffs is forcing their hand.In recent days, multiple central bank policymakers not only have noted the uncertainty surrounding...
Private sector companies added more jobs than expected in January, furthering the case for a stable labor market that allows the Federal Reserve time as it contemplates its next policy move, ADP reported Wednesday.The payrolls processing firm said companies created a net 183,000 jobs on the month, slightly more...
Philip Jefferson speaks during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, D.C., U.S., on Feb. 3, 2022. The U.S. Senate on Wednesday voted overwhelmingly to confirm Philip Jefferson, an economist and Davidson College's dean of faculty, to the Federal Reserve Board.Ken Cedeno | Bloomberg...
Flags outside the Fairmont Royal York in downtown Toronto, Feb. 3, 2025. Andrew Francis Wallace | Toronto Star | Getty ImagesA complicated scenario is emerging surrounding the tariff drama that could put the Federal Reserve in an uncomfortable Catch-22, unsure whether to use its policy levers to tame inflation or...
Job openings slid in December while hiring, voluntary quits and layoffs held steady, the Labor Department reported Tuesday.Available positions tumbled to 7.6 million, the lowest since September, and below the Dow Jones estimate for 8 million, the Bureau of Labor Statistics said in its monthly Job Openings and Labor...
U.S. President Donald Trump looks on as he signs an executive order in the Oval Office at the White House in Washington, U.S., Jan. 31, 2025. Carlos Barria | ReutersPresident Donald Trump approved the Federal Reserve for its decision last week to leave interest rates unchanged, an early pivot from...
Customers shop for food at a grocery store on Jan. 15, 2025 in Chicago, Illinois.Scott Olson | Getty Images News | Getty ImagesInflation closed out 2024 on a strong note, as a price gauge the Federal Reserve focuses on came in well above the central bank's target.The personal consumption...
U.S. economic growth slowed a bit more than expected in the final three months of 2024, the Commerce Department reported Thursday.Gross domestic product, a measure of all the goods and services produced across the sprawling U.S. economy during the period, showed that the economy accelerated at a 2.3% annualized...
In this photo illustration the Visa, Mastercard and American Express logo on various credit cards and debit cards are seen beside US one dollar bills on January 4, 2025 in Somerset, England. Anna Barclay | Getty ImagesConsumer stress has intensified, with an escalating share of credit card holders making only...
US President Joe Biden delivers his farewell address to the nation from the Oval Office of the White House in Washington, DC, on Jan. 15, 2025. Mandel Ngan | Via ReutersTo the untrained eye, Joe Biden leaves the presidency with what appears to be a sterling economic record: hiring proceeding...