Economy

The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. Sarah Silbiger | Reuters The Federal Reserve’s digital payments system, which it promises will help speed up the way money moves around the world, will debut in July. FedNow, as it will be known, will create “a leading-edge payments system that is resilient, adaptive,

It seemed like only yesterday that markets were sure that a tougher Federal Reserve was going to raise its benchmark interest rate a half percentage point at its meeting in less than two weeks. That’s because it, in fact, was yesterday. On Thursday, traders in the futures market were almost certain the Fed would take

A shopping mall in Qingzhou, Shandong province, broadcasts the opening ceremony of China’s National People’s Congress on Sunday, March 5, 2023. Future Publishing | Future Publishing | Getty Images China’s economy will be forced to recalibrate because of a “fractured” global order, and the new drivers of growth will “disappoint” global markets, according to David

In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Elon Musk, Tesla CEO, on a stage at the Tesla Gigafactory in Grünheide, Germany. Picture Alliance | Picture Alliance | Getty Images Tesla recently announced a strategy shift away from Europe as it seeks to benefit from unprecedented subsidies in the United States. But it’s

The Federal Reserve building is seen before the Federal Reserve board is expected to signal plans to raise interest rates in March as it focuses on fighting inflation in Washington, January 26, 2022. Joshua Roberts | Reuters The Federal Reserve is unlikely to be able to bring down inflation without having to raise interest rates

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. Henry Nicholls | Reuters LONDON — The U.K. has thus far avoided a widely anticipated recession, and the signs from the business world are that the economy may be holding up better than feared, according

Consumer debt hit a fresh record at the end of 2022 while delinquency rates rose for several types of loans, the New York Federal Reserve reported Thursday. Debt across all categories totaled $16.9 trillion, up about $1.3 trillion from a year ago, as balances rose across all major categories. Despite a decline in originations, mortgage

Sales at retailers rose far more than expected in January as consumers persevered despite rising inflation pressures. Advance retail sales for the month increased 3%, compared with expectations for a rise of 1.9%, the Commerce Department reported Wednesday. Excluding autos, sales rose 2.3%, according to the report, which is not adjusted for inflation. The ex-autos

The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their biggest gain since July 2022. Nonfarm payrolls increased by 517,000 for January, above the Dow Jones estimate of 187,000 and December’s gain of 260,000, according to a Labor Department report Friday. “It was a phenomenal report,” said Michelle Meyer,

Zoom In IconArrows pointing outwards The U.S. economy added far more jobs than expected in January, boosted by a jump in leisure and hospitality employment. That one service sector saw an increase of 128,000 jobs in the month, led by 99,000 positions at restaurants and bars alone, the Bureau of Labor Statistics said in a report released

An employee works at the BMW manufacturing plant in Greer, South Carolina, October 19, 2022. Bob Strong | Reuters A decrease in the unemployment rate of Black women is heartening, but labor experts warn that the trend shouldn’t create any false notions about equity in the workforce. The unemployment rate for the entire Black population

Consumers spent less in December even as an inflation measure considered key by the Federal Reserve showed the pace of price increases easing, the Commerce Department reported Friday. Personal consumption expenditures excluding food and energy increased 4.4% from a year ago, down from the 4.7% reading in November and in line with the Dow Jones

The U.S. economy finished 2022 in solid shape even as questions persist over whether growth will turn negative in the year ahead. Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had

A Cuban pilgrim participates in the San Lazaro procession at El Rincon church in Havana, on December 16, 2022. Yamil Lage | AFP | Getty Images Accusations of bribery, an imprisoned Cuban bank official and Interpol all feature in a high-stakes case against the Cuban government set to start Monday in the United Kingdom’s High

Federal Reserve Chairman Jerome Powell has tested positive for Covid-19, the central bank announced Wednesday morning. Powell, 69, is “experiencing mild symptoms,” according to the announcement. “Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news

A man pumps gas at a gas station in the Brooklyn borough of New York, the United States, Dec. 13, 2022. Michael Nagle | Xinhua News Agency | Getty Images December’s monthly decline in the consumer price index gets the Federal Reserve a step closer to beating inflation, though they’re highly unlikely to signal an

The French government is presenting new plans to update the pension system. Analysts expect some backlash from some workers. Nurphoto | Nurphoto | Getty Images French President Emmanuel Macron is going at it again. A new pension reform proposal was presented Tuesday that included plans to raise France’s retirement age — which is expected to

Commuters arrive into the Oculus station and mall in Manhattan on November 17, 2022 in New York City. Spencer Platt | Getty Images The U.S. unemployment rate declined overall in December, but rose for Black women and Hispanic men, according to the latest nonfarm payrolls report. Black women saw unemployment increased to 5.5% last month,