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...
Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Pool | Via ReutersU.S. Treasury Secretary Janet Yellen said the country can "absolutely" afford to financially support both Israel and Ukraine in their respective war efforts.President Joe Biden in...
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...
Israeli armuy soldiers deploy at a position near the border with Gaza in southern Israel on October 11, 2023.Menahem Kahana | AFP | Getty ImagesAs Israel prepares for what could be a long war with massive humanitarian implications, there are also concerns about how a protracted fight could weigh...
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...
Attendees arrive at the event campus on the opening day of the annual meetings of the International Monetary Fund (IMF) and World Bank in Marrakesh, Morocco, on Monday, Oct. 9, 2023.Bloomberg | Bloomberg | Getty ImagesThe International Monetary Fund on Tuesday released its latest World Economic Outlook, which revised...