Economy

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

Jim O’Neill, former chief economist Goldman Sachs Group, in Italy in 2019. Alessia Pierdomenico | Bloomberg via Getty Images Veteran economist Jim O’Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides. The U.S. Federal Reserve is broadly expected

Gas station signboards display prices in Bethesda, Maryland on August 6, 2023. Mandel Ngan | AFP | Getty Images Thursday’s consumer price index report likely will show that the pace of price increases is easing, but not enough to get the Federal Reserve to retreat on its inflation fight. If the Wall Street consensus as

Jose Luis Pelaez Inc | Digitalvision | Getty Images Americans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reported Tuesday. Total credit card indebtedness increased by $45 billion in the April-through-June period, an

Traders work on the floor of the New York Stock Exchange, June 29, 2023. Brendan McDermid | Reuters Global stock markets tumbled on Wednesday after ratings agency Fitch downgraded the United States’ long-term credit rating — but top economists say there is nothing to worry about. Fitch announced late on Tuesday that it had cut

Job growth in July was less than expected, pointing to slower growth in the U.S. economy, the Labor Department reported Friday. Nonfarm payrolls expanded by 187,000 for the month, slightly below the Dow Jones estimate for 200,000. Though the headline number was a miss, it actually represented a modest gain from the downwardly revised 185,000

The labor market added a smaller-than-expected 187,000 jobs in July, but one sector delivered roughly half of that total. The health care and social assistance category grew by 87,100 jobs last month, according to the Labor Department. That total jumped to 100,000 when including education jobs, as some economists do. related investing news Humana calms

Workers install solar panels during the completion phase of a 4-acre solar rooftop atop AltaSea’s research and development facility at the Port of Los Angeles, in the San Pedro neighborhood, on April 21, 2023 in Los Angeles, California. Mario Tama | Getty Images The unemployment rate for Black workers fell slightly in July as the

Jamie Grill | Getty Images Back-to-school shopping hasn’t been easy this year for Lauren Cyr. The mother of three has searched for deals and spread out her shopping across multiple paychecks. Still, the 31-year-old sees higher price tags on everything from backpacks to paper — and the summer ritual is squeezing her family budget more

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

Sinking Spring, PA – April 19: The sign at the McDonald’s restaurant on Penn Ave in Sinking Spring, PA April 19, 2021 with a message on a board below it that reads “Work Here $15 $15 $15”. (Photo by Ben Hasty/MediaNews Group/Reading Eagle via Getty Images) Medianews Group/reading Eagle Via Getty Images | Medianews Group

Miami Beach, Florida, Normandy Isle, 7ty One Venezuelan restaurant, interior with customers dining and wait staff cleaning up.  Jeff Greenberg | Universal Images Group | Getty Images Friday’s jobs report could provide a crucial piece to the increasingly complicated puzzle that is the U.S. economy and its long-anticipated slide into recession. Wall Street prognosticators expect

In this article ANF Follow your favorite stocksCREATE FREE ACCOUNT Fitch Ratings in New York, United States. Cem Ozdel | Anadolu Agency | Getty Images Growing political instability means the U.S. will not regain its AAA rating with Fitch for the foreseeable future, according to Elliot Hentov, head of macro policy research at State Street

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

Job vacancies and layoffs edged lower in June, according to a Labor Department report Tuesday that points to a stable labor market. Employment openings totaled 9.58 million for the month, edging lower from the downwardly revised 9.62 million in May, the department said in its monthly Job Openings and Labor Turnover Survey. That was the

Cityscape of Saudi capital Riyadh. Harri Jarvelainen Photography | Moment | Getty Images Saudi Arabia’s economy slowed in the second quarter, as crude output cuts and a drop in oil prices reined in one of the fastest growing nations of the G20. Riyadh’s GDP expanded by an annual 1.1% in the second quarter, the Saudi

The European Central Bank announced a new rate decision Thursday. Daniel Roland | AFP | Getty Images The European Central Bank on Thursday announced a new rate increase of 25 basis points, bringing its main rate to 3.75% The latest move completes a full year of consecutive rate hikes in the euro zone, after the

Kazuo Ueda, governor of the Bank of Japan (BOJ). Bloomberg | Bloomberg | Getty Images The Bank of Japan announced Friday “greater flexibility” in its monetary policy — surprising global financial markets. The central bank loosened its yield curve control — or YCC — in an unexpected move with wide-ranging ramifications. It sent the Japanese