Shoppers on the high street in the Kingston district of London, U.K.Bloomberg | Bloomberg | Getty ImagesU.K. inflation fell to the Bank of England's target of 2.0% in May, the Office for National Statistics said Wednesday, in the last print of the key economic measure ahead of national elections...
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,...
The Bank of Japan is largely expected to hold interest rates steady at the end of its 2-day meeting ending June 14, 2024. Seen here, the Japanese flag flying high at the BOJ headquarters in Tokyo.Kazuhiro Nogi | Afp | Getty ImagesThe Bank of Japan kept its benchmark interest...
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...
People with umbrellas on London Bridge.Karl Hendon | Moment | Getty ImagesLONDON — U.K. economic growth ground to a halt in April, according to flash figures published on Wednesday, stalling the muted rebound from last year's recession mere weeks ahead of a national election. Economists polled by Reuters had...
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...
Salvage crews continue to work on removing debris from the Francis Scott Key Bridge collapse after it was struck by the container ship Dali, now docked at Seagirt Marine Terminal in Baltimore. (Jerry Jackson/Baltimore Sun/Tribune News Service via Getty Images)Jerry Jackson | Baltimore Sun | Getty ImagesThe main passageway...