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 NEWS: CNBC ECONOMY
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   NEWS: CNBC ECONOMY
CNBC Economy
Jul 23, 2021

The rapid growth the U.S. economy has seen is about to hit a wall
The U.S. economy is expected to post another roaring growth spurt in the second quarter, before a slow and steady dose of reality starts to sink in.

CNBC Economy
Jul 23, 2021

Yellen urges Congress to raise or suspend the debt limit by Aug. 2
Treasury Secretary Yellen warned her department will start "extraordinary measures" on Aug. 2 if lawmakers don't raise the debt ceiling.

CNBC Economy
Jul 22, 2021

Sales of existing homes rise slightly as more listings finally hit the market
After four straight months of declines, sales of previously owned homes rose 1.4% in June month to month.

CNBC Economy
Jul 22, 2021

U.S. jobless claims show surprise gain, well above expectations
Weekly jobless claims totaled 419,000 for the week ended July 17, above the 350,000 estimate.

CNBC Economy
Jul 21, 2021

The bond market is torn over the potential for higher inflation and lower growth
A volatile environment for government bonds is reflecting a highly uncertain future for the U.S. economy.

CNBC Economy
Jul 20, 2021

Builders pull back as more homebuyers are priced out of the market
Building permits, an indicator of future construction, fell more than expected to the lowest since August.

CNBC Economy
Jul 19, 2021

It's official: The Covid recession lasted just two months, the shortest in U.S. history
The Covid-19 recession is in the books as the shortest in U.S. history, the National Bureau of Economic Research said Monday.

CNBC Economy
Jul 16, 2021

Yellen sees 'several more months of rapid inflation' before easing, worries about housing impact
Treasury Secretary Janet Yellen expects inflation run to ease, though she cautioned that prices could continue to rise over the next several months.

CNBC Economy
Jul 15, 2021

Watch Fed Chair Powell speak live to Senate banking panel on the economy and policy
Federal Reserve Chairman Jerome Powell appears Thursday before the Senate Banking Committee.

CNBC Economy
Jul 15, 2021

Jobless claims hit new pandemic low, while New York manufacturing notches record high
Weekly jobless claims totaled 360,000 last week, matching Wall Street estimates.

CNBC Economy
Jul 14, 2021

Wholesale prices rose 7.3% in June from a year ago for a record surge
The producer price index, which measures what companies get for the goods they produce, increased 1% from May and jumped 7.3% on a year-over-year basis.

CNBC Economy
Jul 14, 2021

Powell says the Fed is still a ways off from altering policy, expects inflation to moderate
Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy.

CNBC Economy
Jul 13, 2021

Fed's Mary Daly says tapering of bond purchases may start this year
Daly told CNBC that a strong economic recovery will allow the central bank to slow its asset purchases, possibly near the end of 2021.

CNBC Economy
Jul 13, 2021

Inflation just jumped the most in years, yet markets are largely ignoring it. Here's why
A spike in the June 2021 consumer price index reading may be little cause for alarm thanks to a dizzying, but isolated, rise in used car prices.

CNBC Economy
Jul 13, 2021

Inflation climbs higher than expected in June as price index rises 5.4%
The consumer price index was expected to increase 5% year over year in June, according to economists surveyed by Dow Jones.

CNBC Economy
Jul 12, 2021

Fed Chair Powell charged with convincing Congress this week that easy policy is still needed
Federal Reserve Chairman Jerome Powell speaks to Congress this week in an update on monetary policy.

CNBC Economy
Jul 12, 2021

Inflation expectations surge, hitting new high for New York Fed survey
The June Survey of Consumer Expectations showed that median inflation expectations over the next 12 months jumped to 4.8%.

CNBC Economy
Jul 02, 2021

Here's where the jobs are — in one chart
Robust hiring at restaurants and bars, public schools and retailers helped lead the U.S. economy to post 850,000 jobs in June.

CNBC Economy
Jul 02, 2021

Biden on June jobs report: 'Our economy is on the move, and we have Covid-19 on the run'
President Joe Biden said the strong June jobs report proves his economic plan and his nationwide vaccination plan are working better than expected.

CNBC Economy
Jul 02, 2021

U.S. adds 850,000 jobs in June, better than expected
Nonfarm payrolls were expected to increase by 706,000 in June while the unemployment rate was forecast to fall to 5.6%.

CNBC Economy
Jul 02, 2021

Job growth likely will look stronger in June report as companies scramble to find workers
June jobs growth is expected to outpace May as more Americans rejoined the workforce, even as companies continued to struggle to find employees.

CNBC Economy
Jul 01, 2021

U.S. deficit will total $3 trillion in fiscal 2021, budget panel says
The federal government will be swimming in $3 trillion of red ink by the end of fiscal 2021, according to a CBO estimate released Thursday.

CNBC Economy
Jul 01, 2021

130 nations agree to support U.S. proposal for global minimum tax on corporations
A group of 130 nations has agreed to a global minimum tax on corporations, part of a broader effort to overhaul international tax rules.

CNBC Economy
Jul 01, 2021

Epic housing shortage may finally be starting to lift, as surprising number of new listings hit market in June
The epic housing shortage that began before the pandemic and then was exacerbated by it may finally be starting to ease up. More supply is hitting the market.

CNBC Economy
Jul 01, 2021

Weekly jobless claims total hits new pandemic-era low of 364,000
First-time claims for unemployment insurance were expected to total 390,000 for the week ended June 26.

CNBC Economy
Jun 30, 2021

The biggest threat to Biden's hot economy could be his own policies
As Americans resume pre-Covid activity and the Biden administration seeks even more stimulus, the president's policies may be his own biggest economic threat.

CNBC Economy
Jun 30, 2021

Biden's infrastructure plan would cut U.S. debt and slightly increase economic growth, Wharton study finds
Wharton found that Biden's infrastructure plan would cut the U.S. debt and slightly increase GDP.

CNBC Economy
Jun 30, 2021

As housing boom begins to fizzle, weekly mortgage demand falls nearly 7%
Weekly mortgage demand fell to the lowest level in almost a year and a half, as home prices sideline more buyers.

CNBC Economy
Jun 29, 2021

Home prices surged in April at a 'truly extraordinary' rate, S&P Case-Shiller says
Home prices in April saw an annual gain of 14.6%, up from a 13.3% increase in March, the S&P CoreLogic Case-Shiller National Home Price Index says.

CNBC Economy
Jun 28, 2021

El-Erian says the Fed is behind on inflation and risks another recession if it is forced to catch up
Fed officials are underestimating inflation and risking another recession, Mohamed El-Erian told CNBC on Monday.

CNBC Economy
Jun 26, 2021

Inflation looks bad now, but it's pretty much sticking to the script
What's bad news for consumers has been good news for policymakers as well as investors when it comes to inflation.

CNBC Economy
Jun 25, 2021

Key inflation indicator posts biggest year-over-year gain in nearly three decades
A key inflation indicator that the Federal Reserve uses to set policy rose 3.4% in May, the fastest increase since the early 1990s.

CNBC Economy
Jun 24, 2021

Jobless claims hold above 400,000 for the second week in a row
First-time claims for unemployment insurance were expected to total 380,000 for the week ended June 19.

CNBC Economy
Jun 24, 2021

Delaware is expected to move to a $15 per hour minimum wage. What that could mean for the push to increase the national pay rate
Delaware's $9.25 minimum wage would increase to $15 by 2025 once the governor signs a new law.

CNBC Economy
Jun 22, 2021

Fed Chair Powell says it's 'very, very unlikely' the U.S. will see 1970s-style inflation
Fed Chair Jerome Powell continued to attribute most of the recent inflation surge to factors closely tied to the economic reopening.

CNBC Economy
Jun 22, 2021

Existing home sales in May drop for fourth straight month as affordability squeezes buyers
Sales of existing homes fell 0.9% in May to a seasonally adjusted annualized rate of 5.8 million units, according to the National Association of Realtors.

CNBC Economy
Jun 22, 2021

May existing home sales drop for a fourth straight month as affordability squeezes buyers out
Sales of existing homes dropped for the fourth straight month due to a very low supply of homes on the market.

CNBC Economy
Jun 21, 2021

Powell notes economic improvement, but says the pandemic remains a risk
Powell said in testimony prepared for delivery to Congress on Tuesday that the economy is growing but faces continued threats from the pandemic.

CNBC Economy
Jun 18, 2021

Fed's Jim Bullard sees first interest rate hike coming as soon as 2022
St. Louis Federal Reserve President James Bullard told CNBC that he sees an initial interest rate increase happening in 2022 as inflation picks up.

CNBC Economy
Jun 17, 2021

Mortgage rates shoot higher after Fed Chairman Powell's comments
Mortgage rates moved decidedly higher after Federal Reserve Chairman Jerome Powell moved up his timeline for raising rates and tapering asset purchases.

CNBC Economy
Jun 17, 2021

Jobless claims show surprise increase to highest level in a month
First-time claims for unemployment insurance were expected to total 360,000, according to economists surveyed by Dow Jones.

CNBC Economy
Jun 16, 2021

The Fed moves up its timeline for rate hikes as inflation rises
However, the central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program.

CNBC Economy
Jun 16, 2021

The Federal Reserve now forecasts at least two rate hikes by the end of 2023
Every quarter, members of the FOMC forecast where interest rates will go in the short, medium and long term.

CNBC Economy
Jun 16, 2021

Here's what changed in the new Fed statement
This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policy-making meeting on April 28.

CNBC Economy
Jun 16, 2021

The markets are on edge before the Federal Reserve's policy update in the face of surging inflation
The Fed is not expected to take any policy actions after its meeting this week, but it is likely to signal that it is thinking about them.

CNBC Economy
Jun 16, 2021

Vaccines will be the 'most important' economic policy this year, IMF chief says
Vaccine policy will trump all other economic polices this year as the world tries to recover from the coronavirus crisis, Kristalina Georgieva said.

CNBC Economy
Jun 16, 2021

Mortgage refinances rebound as rates drop temporarily to lowest level in a month
After three straight weeks of declines, mortgage demand came crawling back, thanks to a drop in interest rates.

CNBC Economy
Jun 15, 2021

Homebuilder sentiment drops to 10-month low, as construction costs drive prices higher
Rising construction costs are sidelining buyers and making it harder for some builders to get construction loans.

CNBC Economy
Jun 15, 2021

Producer prices climb 6.6% in May on annual basis, largest 12-month increase on record
Retail sales were expected to decline by 0.6% in May, while producer prices were estimated to rise by 0.5%, according to economists surveyed by Dow Jones.

CNBC Economy
Jun 15, 2021

A full rundown of what to expect from the Federal Reserve on Wednesday
The Fed is not expected to take any policy actions after its meeting this week, but it is likely to signal that it is thinking about them.

CNBC Economy
Jun 14, 2021

Paul Tudor Jones rips Fed on inflation, says credibility is at stake
The central bank risks its credibility by keeping policy loose and allowing inflation to grow in a way that may not be transitory, Paul Tudor Jones told CNBC.

CNBC Economy
Jun 14, 2021

Bank of America's Moynihan says the Fed can pull back on policy help
Bank of America CEO Brian Moynihan encouraged the Federal Reserve to ease up on its ultra-easy monetary policy.

CNBC Economy
Jun 14, 2021

Bank of America CEO Brian Moynihan says consumer spending is 20% higher this year than 2019
Nearly all spending categories have recovered with the exception of travel, according to the Bank of America CEO.

CNBC Economy
Jun 10, 2021

Household net worth climbs to $136.9 trillion, thanks to big stock market gains
The total balance sheet for households and nonprofits rose to $136.9 trillion in the first quarter, a 3.8% gain from the end of 2020

CNBC Economy
Jun 10, 2021

Consumer prices jump 5% in May, fastest pace since the summer of 2008


CNBC Economy
Jun 09, 2021

Hot inflation may have become scorching in May and is expected to hit a 28-year high
Economists expect core consumer inflation hit 3.5% in May, the fastest annual pace in 28 years.

CNBC Economy
Jun 09, 2021

'Impotent' Fed policy will fail to contain 1970s-type inflation, investor Peter Boockvar predicts
The Bleakley Advisory Group's Peter Boockvar predicts inflation will be the most widespread in decades.

CNBC Economy
Jun 09, 2021

Mortgage rates drop, but not enough for priced-out homebuyers
Mortgage rates fell slightly last week, but not enough to light a fire under mortgage demand.

CNBC Economy
Jun 08, 2021

Job openings set record of 9.3 million as labor market booms
Job openings in April soared to a record 9.3 million as the economy rapidly recovered from its pandemic depths, according to the JOLTS report.

CNBC Economy
Jun 08, 2021

U.S. trade deficit narrows slightly from record levels as Covid-era demand for imports lets up
The goods and services shortfall declined to $68.9 billion for the month, down from the upwardly revised $75.02 billion in March.

CNBC Economy
Jun 08, 2021

Job openings set new record of 9.3 million amid economic reopening
Job openings in April soared to a new record high, with 9.3 million vacancies coming as the economy rapidly recovered from its pandemic depths.

CNBC Economy
Jun 07, 2021

The Fed is in early stages of a campaign to prepare markets for tapering its asset purchases
Comments by Fed officials in the past several weeks suggest the issue of tapering looks likely to be discussed as soon as next week's FOMC meeting.

CNBC Economy
Jun 07, 2021

Is there a labor shortage? What the May jobs report tells us
The much-anticipated May jobs report offers evidence for both sides of the labor-shortage argument, according to economists.

CNBC Economy
Jun 06, 2021

Higher interest rates would be good for the country, Treasury Secretary Yellen says
The president's $4 trillion spending proposal would be positive for the U.S., even if it hikes up interest rates, Treasury Secretary Janet Yellen said.

CNBC Economy
Jun 04, 2021

Fed's Mester lauds jobs report but says it's not enough to change policy
May's job gains were "solid," but not enough to change the direction of monetary policy, Cleveland Fed President Loretta Mester told CNBC.

CNBC Economy
Jun 04, 2021

Jobs report shows improvement, but not enough to get Fed talking about tapering
Hiring improved in May, but many n Wall Street said the 559,000 jobs added was not sufficient to spur the Fed to begin discussing tapering its bond purchases.

CNBC Economy
Jun 04, 2021

Job creation accelerated in May but is still below lofty expectations
Nonfarm payrolls increased 559,000 in May, below the 671,000 estimate.

CNBC Economy
Jun 04, 2021

U.S. added 559,000 jobs in May, vs 671,000 estimate
Nonfarm payrolls in May were expected to increase by 671,000, according to economists surveyed by Dow Jones.

CNBC Economy
Jun 04, 2021

Powell says climate change is not a main factor in the Fed's policy decisions
The head of the U.S. central bank said taking on issues related to global warming is more for the government than for the Federal Reserve.

CNBC Economy
Jun 03, 2021

Jobless claims fall below 400,000 for the first time since the early days of the pandemic
First-time filings totaled 385,000, a decline from the previous week's 405,000 and below the estimate of 393,000.

CNBC Economy
Jun 03, 2021

Companies hired nearly a million new workers in May, ADP says
Total hires came to 978,000 for the month, a big jump from April's 654,000 and the largest gain since the 4.35 million added last June.

CNBC Economy
Jun 02, 2021

U.S. inflation is transitory but could become more persistent, says ex-Fed official Dudley
William Dudley, former New York Fed president, predicted that the Federal Reserve will start tapering its asset purchases by the end of this year.

CNBC Economy
Jun 01, 2021

U.S. Treasury Secretary Yellen and China's vice premier talk about cooperation and economic recovery
China's Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen spoke about how the countries' economic relationship is "very important," state media said.

CNBC Economy
May 28, 2021

A key U.S. inflation gauge rose 3.1% year over year, higher than expected
The core Personal Consumption Expenditures price index for April was expected to increase 2.9% year over year.

CNBC Economy
May 27, 2021

Biden goes on offensive against economic critics, argues rising wages show his agenda is working
After weeks of defending his economic policies against critics who blame them for inflation and a labor shortage, President Joe Biden went on the offensive.

CNBC Economy
May 27, 2021

Fed's Kaplan cites real estate excesses as one reason to start tapering purchases
Dallas Federal Reserve President Robert Kaplan cited potential excesses in the housing market as an indication that the central bank should start tapering.

CNBC Economy
May 27, 2021

Jobs picture shows more improvement as unemployment claims slide
Jobless claims totaled 406,000 last week, better than the estimate of 425,000.

CNBC Economy
May 27, 2021

Jobs picture continues improvement as unemployment claims slide
Initial jobless claims were expected to total 425,000 for the week ended May 22, according to economists surveyed by Dow Jones.

CNBC Economy
May 26, 2021

Weekly mortgage demand falls as interest rates move higher
A slight increase in mortgage interest rates was enough to tank refinances and bring down overall demand.

CNBC Economy
May 25, 2021

Home prices in March saw highest growth in over 15 years, S&P Case-Shiller says
Home prices in March were up 13%, one of the largest annual gains in the much-watched S&P Case Shiller index's history.

CNBC Economy
May 24, 2021

Fed's Lael Brainard pushes digital dollar as central bank currency race heats up
Fed Governor Lael Brainard pressed the case for a digital dollar, saying that a cryptocurrency backed by the central bank could provide a variety of benefits.

CNBC Economy
May 21, 2021

Key Senate Dem's choice for Fed board is an economist who would be the first Black woman to serve in that role
The Democratic chairman of the Senate Banking Committee sees economist Lisa Cook as his top choice to fill the Fed board's remaining vacancy.

CNBC Economy
May 21, 2021

April existing home sales drop, marking three straight months of declines
Home sales in April dropped unexpectedly, as extremely low supply stands in the way of strong demand.

CNBC Economy
May 20, 2021

The Fed this summer will take another step in developing a digital currency
The Federal Reserve will release a research paper this summer that explores a move to a central bank digital currency.

CNBC Economy
May 20, 2021

Jobless claims drop more than expected for a new pandemic low
Initial claims for jobless benefits totaled 444,000 last week, better than the 452,000 Dow Jones estimate.

CNBC Economy
May 19, 2021

Covid outbreaks in Asia could hit supply chains and raise U.S. inflation, says expert
Japan, South Korea, Taiwan and Vietnam are among Asian manufacturing economies that have reported a renewed Covid outbreak in the last few weeks.

CNBC Economy
May 19, 2021

The Fed hinted it could reconsider easy policies if economy continues rapid improvement
Federal Reserve officials at their April meeting said "it might be appropriate at some point" to consider tapering asset purchases.

CNBC Economy
May 19, 2021

Homebuyers are applying for ever bigger mortgages as home prices soar
Sky-high home prices mean demand for ever bigger mortgages, but those prices may also be causing a pullback in homebuying.

CNBC Economy
May 18, 2021

Yellen pushes higher taxes, stronger unions, more global competition to U.S. Chamber
Treasury Secretary Janet Yellen is calling for business leaders to pay higher taxes to support government stimulus spending.

CNBC Economy
May 17, 2021

Homebuilder confidence is high, but rising costs of materials present major risks
Strong buyer demand is keeping homebuilders confident, but rising construction material costs are weighing on housing affordability.

CNBC Economy
May 17, 2021

Fed's Bostic says there's no reason to change policy despite inflation fears
Atlanta Federal Reserve President Raphael Bostic said he's comfortable with ultra-loose policy even as inflation gains steam.

CNBC Economy
May 13, 2021

Economist calls for calm on inflation talk: 'Everything ultimately will settle down'
The concentration of price pressures in a handful of categories means markets shouldn't yet be worrying about inflation after Wednesday's U.S. surprise, economists have told CNBC.

CNBC Economy
May 13, 2021

Another inflation gauge comes in hot with producer prices jumping 6.2% in April from a year ago
Economists polled by FactSet are expecting a 0.3% increase in April for the PPI over the previous month.

CNBC Economy
May 12, 2021

April's inflation surge wasn't as drastic as it looked, but the real test is still ahead
There was probably less than met the eye from the startling inflation pop in April.

CNBC Economy
May 12, 2021

Inflation spooks stocks and raises fear the Fed is wrong that the price spike is temporary
Markets were braced for a hot consumer inflation report, but nowhere near the 4.2% headline increase reported for April.

CNBC Economy
May 12, 2021

Investors are worried about inflation data, but economists see it as a sign of temporary growth
The recent pickup in inflation may, in fact, be a temporary — and welcome — change for those who fear a slowdown in U.S. GDP.

CNBC Economy
May 12, 2021

Thomas Peterffy says he's worried inflation in U.S. could become an 'unstoppable situation'
"I'm very worried this is an unstoppable situation because the longer the Fed waits, the more they will have to raise the rates," Thomas Peterffy told CNBC.

CNBC Economy
May 12, 2021

Household debt climbs to $14.64 trillion, due to jump in mortgages and car loans
Total household debt balances rose by $85 billion in the first quarter, a 0.6% increase that brought the total level to $14.64 trillion.

CNBC Economy
May 12, 2021

Inflation speeds up in April as consumer prices leap 4.2%, fastest since 2008
The Consumer Price Index rise for April from a year earlier was the sharpest since September 2008.

CNBC Economy
May 12, 2021

Inflation surges in April as consumer prices leap 4.2%, fastest since 2008
The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from a year ago.

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