Economy

Choochart Choochaikupt | Istock | Getty Images American consumers are worried about access to credit amid persistently higher interest rates and tighter standards at banks, according to a New York Federal Reserve survey released Monday. Respondents indicating that the ability to get loans, credit cards and mortgages is harder now than it was a year

European bank shares dropped significantly in August after a surprise announcement from the Italian government for a new tax. Stefano Montesi – Corbis | Corbis News | Getty Images Italy’s shock tax on banks continues to prove controversial, even as the government insists it can improve it. Europe’s main bank stock index fell almost 3%

Pixelseffect | E+ | Getty Images The unemployment rate for Black workers slipped in August, bucking the broader trend of a higher overall jobless rate. The overall unemployment rate ticked up to 3.8% last month, the highest since February 2022. It came as the labor force participation rate – a measure of the number of

A ‘help wanted’ sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City.  Spencer Platt | Getty Images Job creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might be starting to ease

Shoppers at Brickell City Centre in Miami, Florida, US, on Wednesday, June 14, 2023.  Eva Marie Uzcategui | Bloomberg | Getty Images Consumer spending held up well in July as inflation slowed, with retail sales turning in a stronger than expected showing for the month, the Commerce Department reported Tuesday. The advanced retail sales report

A woman waits on customers at the Same Day Cafe in the Logan Square neighborhood on August 18, 2023 in Chicago, Illinois. Scott Olson | Getty Images The amount of money most workers want now to accept a job reached a record high this year, a sign that inflation is alive and well at least

Traders work on the floor of the New York Stock Exchange (NYSE), August 15, 2023. Brendan McDermid | Reuters China’s economic model is “washed up on the beach” and “not going to take off again,” which will have a big impact on global markets, says veteran investor David Roche. Despite a remarkable rally in stock

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 Images The U.S. dollar surged above 100 to the ruble on Monday, with the Russian currency nearing a 17-month low as President Vladimir Putin’s

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 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported Thursday. However, the annual rate was slightly below

In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT 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

The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London, Britain. Reinhard Krause | Reuters It’s not a growing jobs market, strong U.S. dollar or a resilient economy that will help the U.S. regain the top rating from Fitch. According to the firm, it’s going to take a major

People stand at the check-out counter after shopping at a grocery supermarket in Alhambra, California, on July 13, 2022.  Frederic J. Brown | AFP | Getty Images Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index excluding food

A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Ying Tang | NurPhoto | Getty Images The Chinese economy could be facing a prolonged period of lower growth, a prospect which may have global ramifications after 45 years of rapid expansion and globalization. The Chinese government

The U.S. Federal Reserve Building in Washington, D.C. Win Mcnamee | Reuters The Federal Reserve launched its FedNow instant-payments service Thursday, following several years of developing a system officials say will allow the faster flow of cash for businesses and individuals. Whether it’s providing instant access to paychecks, allowing for last-minute bill payments or sending

A food shopper searches for vegetables July 1, 2023 at the Hannaford supermarket in South Burlington, Vermont.  Robert Nickelsberg | Getty Images Don’t break out the party hats just yet: Despite recent signs that inflation is cooling, the fight to bring down the meteoric price increases of the past three years is far from over.

A customer shops in a Kroger grocery store on July 15, 2022 in Houston, Texas.  Brandon Bell | Getty Images The producer price index for June had a smaller than expected increase, the Labor Department reported Thursday, in the latest sign that inflation is calming in the United States. The PPI for final demand rose

Chicago Federal Reserve President Austan Goolsbee said Friday he’s confident inflation can be tamed without a recession, even with additional interest rate increases likely. Speaking to CNBC following the release of the June nonfarm payrolls report, he said the ongoing job growth is part of the Fed’s “golden path” toward restoring price stability without taking

Sunak has reiterated his “total support” for the Bank of England and under fire Governor Andrew Bailey. STEFAN ROUSSEAU/POOL/AFP via Getty Images LONDON — In January, with one eye on a critical general election in 2024, U.K. Prime Minister Rishi Sunak vowed to halve inflation by the end of the year. At the time, headline