Economy

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 27, 2023. Brendan McDermid | Reuters Investors are too confident the Federal Reserve will cut interest rates this year and could pay the price later, according to asset management giant BlackRock and others on Wall Street. Market pricing

A customer looks over merchandise at a store on March 14, 2023 in Miami, Florida. Joe Raedle | Getty Images Wholesale prices posted an unexpected decline in February, providing some encouraging news on inflation as the Federal Reserve weighs its next move on interest rates. The producer price index fell 0.1% for the month, against

In this article SBNY Follow your favorite stocksCREATE FREE ACCOUNT Federal Reserve Board Chair Jerome Powell speaks at a news conference following a two-day meeting of the Federal Open Market Committee, Wednesday, Sept. 18, 2019, in Washington. Patrick Semansky | AP Markets have changed their mind — again — about what they think the Federal

Even with turmoil in the banking industry and uncertainty ahead, the Federal Reserve likely will approve a quarter-percentage-point interest rate increase next week, according to market pricing and many Wall Street experts. Rate expectations have been on a rapidly swinging pendulum over the past two weeks, varying from a half-point hike to holding the line

Christine Lagarde, president of the European Central Bank (ECB), pauses during a rates decision news conference in Frankfurt, Germany, on Thursday, March 16, 2022. Alex Kraus | Bloomberg | Getty Images The European Central Bank on Thursday announced a further rate hike of 50 basis points, signaling it is ready to supply liquidity to banks

U.S. Federal Reserve Chair Jerome Powell responds to a question from David Rubenstein (not pictured) during an on-stage discussion at a meeting of The Economic Club of Washington, at the Renaissance Hotel in Washington, D.C., U.S, February 7, 2023. REUTERS/Amanda Andrade-Rhoades Amanda Andrade-rhoades | Reuters The Federal Reserve is one year down its rate-hiking path,

Photo illustration, the Silicon Valley Bank logo is visible on a smartphone, with the stock market index in the background on the personal computer on March 14, 2023, in Rome, Italy. Andrea Ronchini | Nurphoto | Getty Images Goldman Sachs on Wednesday lowered its 2023 economic growth forecast, citing a pullback in lending from small-

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,

Moody’s Analytics chief economist Mark Zandi thinks the Federal Reserve is unlikely to raise interest rates at its March meeting as there is a “boatload of uncertainty” around the recent bank failures. The financial turmoil of the past few days will certainly affect monetary policy decision making when the Federal Open Market Committee meets next

Inflation rose in February but was in line with expectations, likely keeping the Federal Reserve on track for another interest rate hike next week despite recent banking industry turmoil. The consumer price index increased 0.4% for the month, putting the annual inflation rate at 6%, the Labor Department reported Tuesday. Both readings were exactly in

Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled The Semiannual Monetary Policy Report to the Congress, in Hart Building on Tuesday, March 7, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images When the Federal Reserve starts to raise interest rates, it generally keeps doing

Job creation decelerated in February but was still stronger than expected despite the Federal Reserve’s efforts to slow the economy and bring down inflation. Nonfarm payrolls rose by 311,000 for the month, the Labor Department reported Friday. That was above the 225,000 Dow Jones estimate and a sign that the employment market is still hot.

The U.S. labor market surprised to the upside yet again in February, powered by continued strength in the service sectors of the economy. The leisure and hospitality sector added 105,000 jobs last month, according to the Labor Department, accounting for roughly a third of the total 311,000 jobs gain. The health care and social assistance

Women walk past by a “Now Hiring” sign outside a store on August 16, 2021 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images The unemployment rate for Black and Hispanic women rose in February, but so did the number of people looking for jobs. The U.S. unemployment rate ticked up to 3.6% in

A trader works on the floor during morning trading at the New York Stock Exchange (NYSE) on March 10, 2023 in New York City.  Spencer Platt | Getty Images 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

City workers in Paternoster Square, where the headquarters of the London Stock Exchange is based, in the City of London, UK, on Thursday, March 2, 2023. Bloomberg | Bloomberg | Getty Images LONDON — The U.K. economy grew by 0.3% in January, official figures showed on Friday, exceeding expectations as it continues to fend off

Companies added jobs at a brisk pace in February as the U.S. labor market kept humming, payroll services firm ADP reported Wednesday. Private payrolls increased by 242,000 for the month, ahead of the Dow Jones estimate for 205,000 and well above the upwardly revised 119,000 jobs gain, from 106,000, in January. Wage growth decelerated slightly,

A “Now Hiring” sign is displayed on a shopfront on October 21, 2022 in New York City. Leonardo Munoz | View Press | Corbis News | Getty Images Job openings declined slightly in January but still far outnumber available workers as the labor picture remains tight, according to data released Wednesday. The Labor Department’s Job