Economy

CEO outlook dims sharply, with more than half expecting a recession ahead, survey shows

May 18 2022

The Conference Board measure of CEO sentiment showed that 57% expect the economy to sustain a "very short, mild recession."

Households are now spending an estimated $5,000 a year on gasoline

May 18 2022

U.S. households are now spending the equivalent of $5,000 a year on gasoline, up from $2,800 a year ago, according to Yardeni Research.

Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll

May 18 2022

Higher mortgage interest rates are hitting homebuyer affordability hard, and that is showing up in a sharp drop in mortgage applications.

Powell says the Fed will not hesitate to keep raising rates until inflation comes down

May 18 2022

Fed Chair Jerome Powell said he will back interest rate increases until prices start falling back toward a healthy level.

Homebuilder sentiment falls to 2-year low on declining demand and rising costs

May 17 2022

"Housing leads the business cycle, and housing is slowing," said NAHB Chairman Jerry Konter, a builder and developer.

Retail spending increased 0.9% in April, boosted by demand and inflation

May 17 2022

Retail sales were expected to rise 1% in April, according to Dow Jones estimates.

California's gas average tops $6 per gallon as prices surge across the U.S.

May 17 2022

California's state average for a gallon of gas hit a record above $6.

Ex-Goldman CEO Blankfein says recession possibility is 'very high risk factor'

May 16 2022

Former Goldman Sachs CEO Lloyd Blankfein said he believes the economy is at risk of possibly going into a recession.

April's consumer price index report expected to show inflation has already peaked

May 11 2022

April's consumer price index may show inflation has reached its height.

Fed's Waller promises to tackle inflation, says mistakes of the '70s won't be repeated

May 11 2022

Fed Governor Christopher Waller pledged that the rate-setting group wouldn't make the same mistakes on inflation that it did in the 1970s.

Inflation outlook for consumers falls from record high, Fed survey shows

May 09 2022

Inflation expectations over the next year fell to a median 6.3% in April, a 0.3 percentage point decrease from the record high the previous month.

Fed's Neel Kashkari confident inflation can come down, but not without some pain

May 09 2022

Minneapolis Fed President Neel Kashkari said Monday he's confident inflation will come back to normal, though he added it will take longer than he expected.

Here's where the jobs are — in one chart

May 06 2022

Hiring in the manufacturing, transportation and health-care sectors helped the U.S. economy add more than 400,000 jobs in April.

Payroll growth accelerated by 428,000 in April, more than expected as jobs picture stays strong

May 06 2022

Nonfarm payrolls grew by 428,000 for the month, a bit above the Dow Jones estimate of 400,000. The unemployment rate was 3.6%.

'Unretirement' is becoming a hot new trend in the sizzling U.S. labor market

May 06 2022

The level of workers who retired then came back a year later is running around 3.2%, just about where it was before the pandemic.

Regulators propose first major revamp to fair housing rules since 1995

May 05 2022

The changes would tailor the Community Reinvestment Act's approach to making sure banks are not engaging in "redlining."

Worker output fell 7.5% in the first quarter, the biggest decline since 1947

May 05 2022

Worker productivity fell to start 2022 at its fastest pace in nearly 75 years while labor costs soared.

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

May 05 2022

Wednesday's rate hike will push the federal funds rate to a range of 0.75%-1%.

Private payrolls increased by 247,000 in April, well below the estimate, ADP says

May 04 2022

Private payrolls increased by just 247,000 for the month, well below the 390,000 Dow Jones estimate.

Weekly mortgage demand rose for the first time since early March last week, but it won't last

May 04 2022

Total mortgage application volume rose 2.5% for the week ended April 29 compared with the previous week, according to the MBA's seasonally adjusted index.

Job openings and the level of people quitting their jobs reached records in March

May 03 2022

Employment openings exceeded the level of available workers by 5.6 million in March while a record number of people quit their jobs.

The money issue Americans worry about even slightly more than inflation

May 03 2022

About 2 in 5 Americans say money issues negatively impact their mental health, according to a new survey. The top worry? Having enough emergency savings.

Fears of a Fed mistake grow as this week's anticipated interest rate hike looms

May 03 2022

The Federal Reserve is tasked with slowing the U.S. economy enough to control inflation but not so much that it tips into recession.

Home affordability is nearly the worst on record as mortgage rates spike

May 02 2022

Overheated home prices and sharply higher mortgage rates are crushing housing affordability.

Stagflation could return to the U.S. economy with the Fed fighting inflation amid slowing growth

May 02 2022

Prices are rising as the Fed winds down a historic round of stimulus. This tightening cycle could slow jobs growth as global markets ride a wave of volatility.

Surging prices force consumers to ask: Can I live without it?

May 01 2022

Consumer spending habits are starting to shift as inflation rises and people emerge from the pandemic.

The Fed's favorite inflation gauge rose 5.2% in March as worker pay fell further behind

April 29 2022

A measure that the Federal Reserve focuses on to gauge inflation rose at a robust pace in March.

U.S. GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit

April 28 2022

Gross domestic product unexpectedly declined 1.4% in the first quarter, an abrupt reversal for an economy coming off its best performance since 1984.

Fed's Mester casts doubt on the need for 'shock' interest rate hikes ahead

April 23 2022

Cleveland Fed President Loretta Mester said she's in favor of raising interest rates quickly, but not so quickly as to disrupt the economic recovery.

Powell says taming inflation 'absolutely essential,' and a 50 basis point hike possible for May

April 22 2022

Federal Reserve Chairman Jerome Powell on Thursday affirmed the central bank's determination to bring inflation down.