Economy

A ‘We’re Hiring!’ sign is displayed at a Starbucks on Hollywood Boulevard on June 23, 2021 in Los Angeles, California. Mario Tama | Getty Images July’s strong jobs report puts the Federal Reserve on track to slow its bond purchases — if the spread of Covid doesn’t hurt the economy and hiring later in the

US President Joe Biden speaks about the July jobs reports in the East Room of the White House in Washington, DC, on August 6, 2021. Saul Loeb | AFP | Getty Images WASHINGTON — President Joe Biden resisted the temptation to take a victory lap Friday following the release of strong July jobs numbers, instead

President Joe Biden held on to his overall approval rating in the latest CNBC All-America Economic Survey but showed weakness in two key areas as the public’s views on the economy and the outlook for the virus soured. In the poll of 802 American adults nationwide, 48% approved of the job Biden is doing as

Janet Yellen, U.S. Treasury secretary, arrives at a Eurogroup meeting of European Union (EU) finance ministers in Brussels, Belgium. Bloomberg | Bloomberg | Getty Images Treasury Secretary Janet Yellen will warn on Wednesday that enacting President Joe Biden’s economic agenda is critical to maintaining America’s status as the world’s top economic superpower, according to a

A ‘We’re Hiring!’ sign is displayed at a Starbucks on Hollywood Boulevard on June 23, 2021 in Los Angeles, California. Mario Tama | Getty Images Job creation at private companies tumbled in July as fears mounted over the spreading coronavirus delta variant, payroll processing firm ADP reported Wednesday. Employers added 330,000 positions for the month,

The Federal Reserve could begin slowing down its bond purchases as early as October under a scenario central bank Governor Christopher Waller set out to CNBC in a Monday interview. Should the August and September jobs report show growth in the 800,000 range, that would get the U.S. economy near its pre-pandemic level and, Waller

Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters Household debt rose by its highest dollar amount in 14 years during the second quarter, thanks mostly to a surge in the housing market that brought the collective

A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York. Raychel Brightman | Newsday LLC | Newsday | Getty Images The popular 30-year fixed mortgage rate fell back to the lowest level since February last week, and the 15-year

The Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread. As expected, the Federal Open Market Committee concluded its two-day meeting by keeping interest rates in a target range near zero. Along with that, the committee reiterated its view that

An inflation indicator that the Federal Reserve uses as its key guide rose 3.5% in June, a sharp acceleration that was nonetheless right around Wall Street expectations, the Commerce Department reported Friday. The personal consumption expenditures price index, which excludes food and energy, was expected to increase 3.6% at a time when the U.S. economy

A real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Pending sales of existing homes in June, which are measured by signed contracts, fell 1.9% month-to-month, according to the National Association of Realtors. Sales were also down 1.9% compared

The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign that the U.S. has escaped the shackles of the Covid-19 pandemic but still has more work to do. Gross domestic product, a measure of all goods and services produced during the April-to-June period, accelerated 6.5%

Customers shop for produce at a supermarket on June 10, 2021 in Chicago, Illinois. Scott Olson | Getty Images The International Monetary Fund warned Tuesday that there’s a risk inflation will prove to be more than just transitory, pushing central banks to take pre-emptive action. The issue is currently dividing the investment community, which has

A “For Sale” sign is seen in front of a home on May 30, 2019 in Miami, Florida. Joe Raedle | Getty Images Home prices continue to break records, as strong demand slams up against weak supply. Nationally, prices in May were 16.6% higher than in May 2020, according to the S&P CoreLogic Case-Shiller home

Federal Reserve Chair Jerome Powell testifies during a U.S. House Oversight and Reform Select Subcommittee hearing on coronavirus crisis, on Capitol Hill in Washington, June 22, 2021. Graeme Jennings | Pool | Reuters When the Fed emerges from its July meeting, it may sound a bit more prone to keeping its ultra-easy policy in place

A man wearing a protective face mask walks by 14 Wall Street in the financial district of New York, November 19, 2020. Shannon Stapleton | Reuters A volatile environment for government bonds is reflecting a highly uncertain future for the U.S. economy, pointing to both slower growth and stubborn inflation. After a burst higher earlier

Sales of newly built homes dropped in June to the lowest level since the early days of the coronavirus pandemic in April 2020, according to data released by the U.S. Census Bureau on Monday. Sales of new single-family homes fell to an annualized rate of 676,000, 6.6% below May’s rate of 724,000 and 19.4% below

A home stands for sale in a Brooklyn neighborhood with a limited supply of single family homes on March 31, 2021 in New York City. Spencer Platt | Getty Images After four straight months of declines, sales of previously owned homes rose 1.4% in June month-to-month to a seasonally adjust annualized rate of 5.86 million