Michelle Bowman, governor of the US Federal Reserve, speaks during the Exchequer Club meeting in Washington, DC, US, on Wednesday, Feb. 21, 2024. Kent Nishimura | Bloomberg | Getty ImagesFederal Reserve Governor Michelle Bowman said Tuesday the time is not right yet to start lowering interest rates, adding she would...
Economist Claudia Sahm on CNBC's The Exchange.CNBCThe Federal Reserve is risking tipping the economy into contraction by not cutting interest rates now, according to the author of a time-tested rule for when recessions happen.Economist Claudia Sahm has shown that when the unemployment rate's three-month average is half a percentage...
A worker assists with check-out at a Costco store in Teterboro, New Jersey, US, on Wednesday, Feb. 28, 2024. Stephanie Keith | Bloomberg | Getty ImagesRetail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation.Sales rose just 0.1% on the month,...
A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back.The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department's Bureau of Labor...
U.S. Treasury Secretary Janet Yellen testifies before a Senate Appropriations Financial Services and General Government Subcommittee hearing on President Biden’s proposed budget request for the Department of Treasury, on Capitol Hill in Washington, U.S., June 4, 2024. Anna Rose Layden | ReutersTreasury Secretary Janet Yellen on Thursday said the swelling...
The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday.CPI, a broad inflation gauge that measures a basket of goods and services costs across the U.S. economy, held flat on the month though it...
Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the conference celebrating the Centennial of the Division of Research and Statistics, Board of Governors of the Federal Reserve System in Washington D.C., United States on November 08, 2023. (Photo by Celal Gunes/Anadolu via Getty Images)Celal Gunes | Anadolu...
Traders work on the floor of the New York Stock Exchange during afternoon trading on June 03, 2024 in New York City. Michael M. Santiago | Getty ImagesMay's surprising pace of job growth along with a rise in wages added to conviction that the Federal Reserve will stay on hold...
The U.S. economy added far more jobs than expected in May, countering fears of a slowdown in the labor market and likely reducing the Federal Reserve's impetus to lower interest rates.Nonfarm payrolls expanded by 272,000 for the month, up from 165,000 in April and well ahead of the Dow...
Liu Jie/Xinhua via Getty ImagesInvestors will be looking to May's nonfarm payrolls report for more clarity on whether the Federal Reserve can ease up in its battle against inflation.Economists surveyed by Dow Jones expect the Bureau of Labor Statistics to report that the U.S. economy added 190,000 more jobs...