Economy

Firefighters battle flames during the Eaton Fire in Pasadena, California, U.S., Jan. 7, 2025. Mario Anzuoni | Reuters Climate-related natural disasters are driving up insurance costs for homeowners in the most-affected regions, according to a Treasury Department report released Thursday. In a voluminous study covering 2018-22 and including some data beyond that, the department found

MOSCOW, Russia: The Russian central bank has cut its key interest rate by 300 basis points for a third time since its emergency hike in late February, citing cooling inflation and a recovery in the ruble. KIRILL Kudryavtsev | AFP | Getty Images Russia’s central bank on Friday unexpectedly left its key interest rates unchanged

Prices barely moved in November but still held higher than the Federal Reserve’s target when looked at from a year ago, according to a Commerce Department measure released Friday. The personal consumption expenditures price index, the Fed’s preferred inflation gauge, showed an increase of just 0.1% from October. The measure indicated a 2.4% inflation rate

Homes under construction in Englewood Cliffs, New Jersey on Nov. 19th, 2024. Adam Jeffery | CNBC If President-elect Donald Trump is going to push inflation back down to a more tolerable level, he will need help from housing costs, an area where federal policymakers have only a limited amount of influence. The November consumer price

Jerome Powell, chairman of the US Federal Reserve, during the New York Times DealBook Summit at Jazz at Lincoln Center in New York, US, on Wednesday, Dec. 4, 2024. Yuki Iwamura | Bloomberg | Getty Images Friday’s jobs report virtually cements that the Federal Reserve will approve an interest rate cut when it meets later

Available jobs rose in October while hiring fell during a month in which payrolls growth hit its lowest level in nearly four years, the Bureau of Labor Statistics reported Tuesday. Job openings totaled 7.74 million on the month, up 372,000 from September and more than the Dow Jones estimate for 7.5 million, the BLS said

Construction workers in Mumbai, India, on June 5, 2024.  Bloomberg | Bloomberg | Getty Images India’s economy expanded by just 5.4% in its second fiscal quarter ending September, well below estimates by economists and close to a two-year low. The print follows 6.7% growth over the previous quarter and is the lowest reading since the last quarter

Scott Bessent, founder and chief executive officer of Key Square Group LP, during an interview in Washington, D.C., June 7, 2024. Stefani Reynolds | Bloomberg | Getty Images The U.S. stock market appeared to cheer President-elect Donald Trump’s presumptive nominee for Treasury secretary, who told CNBC earlier in November that he sees an era of

Jerome Powell and President Donald Trump during a nomination announcement in the Rose Garden of the White House in Washington, D.C., U.S., on Thursday, Nov. 2, 2017. Andrew Harrer | Bloomberg | Getty Images President-elect Donald Trump and Federal Reserve Chair Jerome Powell could be on a policy collision course in 2025 depending on how

Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known

Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday. The consumer price index, which measures costs across a spectrum of goods and services, increased 0.2% for the month. That took the 12-month inflation rate to 2.6%, up 0.2 percentage point from September. The

Federal Reserve Board Federal Reserve Chairman Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on November 07, 2024 in Washington, DC.  Kent Nishimura | Getty Images Federal Reserve Chair Jerome Powell dodged question after question at his Thursday news conference from a press corps eager to elicit

When the votes are counted in the U.S. presidential election, will it be the gender gap, the income gap, the Latino vote or the media and marketing campaigns that turned out to be decisive? CNBC senior economics reporter Steve Liesman sat down with four polling experts for an in-depth look into the data to see

A jobseeker holds flyers during the New York Public Library’s annual Bronx Job Fair & Expo at the the Bronx Library Center in the Bronx borough of New York, US, on Friday, Sept. 6, 2024.  Yuki Iwamura | Bloomberg | Getty Images The unemployment rate for white Americans inched higher in October, according to data

A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia’s capital Riyadh to attend the Future Investment Initiative (FII) forum. Fayez Nureldine | Afp | Getty Images Thousands of financiers, founders and investors are set to descend on the Saudi capital of Riyadh for the eighth edition of the kingdom’s Future Investment Initiative,

A man walks past signage for the the 2024 IMF/World Bank Annual Meetings outside of the headquarters of the International Monetary Fund in Washington, DC on October 18, 2024.  Daniel Slim | AFP | Getty Images The International Monetary Fund warned Wednesday that the public debt situation worldwide could be more dire than most think,

A family shops for Halloween candy at a Walmart Supercenter on October 16, 2024 in Austin, Texas.  Brandon Bell | Getty Images Just because the Federal Reserve is nearing its inflation goal doesn’t mean the problem is solved, as the high price of goods and services across the U.S. economy continues to pose a burden

A wet Piccadilly Circus during a rainy morning in the West End, on 26th September 2024, in London, England.  Richard Baker | In Pictures | Getty Images LONDON — Inflation in the U.K. dropped sharply to 1.7% in September, the Office for National Statistics said Wednesday, ramping up market expectations for a Bank of England