This pool image distributed by Sputnik agency shows Russian President Vladimir Putin meeting with the Tver region governor at the Kremlin in Moscow on August 9, 2023.Mikhail Klimentyev | AFP | Getty ImagesThe Russian ruble briefly notched 100 to the U.S. dollar on Monday, nearing a 17-month low as President Vladimir...
A measure of wholesale prices rose more than expected in July, countering recent trends showing that inflation pressures are easing.The producer price index, which gauges the costs that goods and services producers receive for their products as opposed to those that consumers pay, rose 0.3% for the month, the...
Jim O'Neill, former chief economist Goldman Sachs Group, in Italy in 2019.Alessia Pierdomenico | Bloomberg via Getty ImagesVeteran economist Jim O'Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides.The U.S. Federal Reserve...
Gas station signboards display prices in Bethesda, Maryland on August 6, 2023.Mandel Ngan | AFP | Getty ImagesThursday's consumer price index report likely will show that the pace of price increases is easing, but not enough to get the Federal Reserve to retreat on its inflation fight.If the Wall...
The consumer price index rose 3.2% from a year ago in July, a sign that inflation has lost at least some of its grip on the U.S. economy.Prices accelerated a seasonally adjusted 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported...
Jose Luis Pelaez Inc | Digitalvision | Getty ImagesAmericans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reported Tuesday.Total credit card indebtedness rose by $45 billion in...
JPMorgan Chase economists on Friday bailed on their recession call, joining a growing Wall Street chorus that now thinks a contraction is no longer inevitable.While noting that risks are still high and growth ahead is likely to be slow, the bank's forecasters think the data flow indicates a soft...
Jamie Grill | Getty ImagesBack-to-school shopping hasn't been easy this year for Lauren Cyr.The mother of three has searched for deals and spread out her shopping across multiple paychecks. Still, the 31-year-old sees higher price tags on everything from backpacks to paper — and the summer ritual is squeezing...
Job growth in July was less than expected, pointing to a slower pace in the U.S. economy though perhaps not a long-anticipated recession, the Labor Department reported Friday.Nonfarm payrolls expanded by 187,000 for the month, slightly below the Dow Jones estimate for 200,000. Though the headline number was a...
Workers install solar panels during the completion phase of a 4-acre solar rooftop atop AltaSea's research and development facility at the Port of Los Angeles, in the San Pedro neighborhood, on April 21, 2023 in Los Angeles, California.Mario Tama | Getty ImagesThe unemployment rate for Black workers fell slightly...