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CNBC Economic News
Powell sees no interest rate hikes on the horizon as long as inflation stays low
Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery.
Jobless claims surge to highest weekly total since August
First-time jobless claims totaled 965,000 last week, the Labor Department said, well above the Dow Jones estimate of 800,000.
The unemployment rate is above 20% for the lowest-paid workers, Fed's Brainard says
Federal Reserve Governor Lael Brainard said the figure underscores the importance of policy help for the economy.
Mortgage refinance demand spikes 20% as borrowers fear missing out on record-low rates
After setting more than a dozen record lows last year, mortgage rates began 2021 on an upward climb. That lit a fire under borrowers hoping to refinance.
Americans spent a record online over 2020 holidays, and more e-commerce gains are expected
Online shopping over the 2020 holidays in the United States grew 32.2% from 2019s, totaling $188.2 billion, according to Adobe Analytics.
Economy sees job loss in December for the first time in eight months as surging virus takes toll
Nonfarm payrolls fell by 140,000 in December, the Labor Department said, against the Dow Jones consensus estimate for a 50,000 gain.
Here's where the jobs are — in one chart
The leisure and hospitality industry saw outsized job losses thanks to a torrent of layoffs at bars and restaurants.
Weekly jobless claims little changed despite signs that hiring is slowing
Weekly claims totaled 787,000 last week, below the Wall Street estimate for 815,000.
Private payrolls post first drop since April as coronavirus spread hits job growth, ADP says
The decrease of 123,000 provided a stark sign that the U.S. economy had cooled considerably heading into the end of 2020.
Cash in circulation is soaring, and that usually means good things for the economy
Currency in circulation soared last year at a rate unseen since World War II, providing what historically has been a good sign for the economy.
Mortgage demand from homebuyers pulled back sharply, even as rates ended 2020 near record low
The stunning surge in home buying demand, brought on by the coronavirus pandemic, may finally be easing up.
Home prices are rising faster in the middle of the U.S. as Covid drives people away from coasts
Home prices are rising across the nation, but the usual geographical trends are being turned on their heads by the coronavirus pandemic.
Weekly jobless claims fall for a second straight week
The number of people filing for unemployment benefits for the first time unexpectedly fell last week, marking its second straight decline.
November new home sales fall more than expected, builder stocks drop
Sales of newly built homes came in far weaker than expected for November, and builder stocks are not taking it well.
Weekly jobless claims rise less than expected, but hold above 800,000
The number of first-time unemployment-benefits filers decelerated to 803,000 in the week ending Dec. 19.
Existing home sales decline for the first time in 5 months as prices rise and supply falls
After five consecutive months of gains, closed sales of existing homes turned lower in November from October.
Weekly jobless claims unexpectedly rise, hit highest level since early September
Jobless claims unexpectedly rose as lawmakers struggle to push through additional coronavirus stimulus measures.
Fed commits to keep buying bonds until the economy gets back to full employment
The Federal Reserve made a key adjustment in its efforts to support the economy, while upgrading its outlook for growth.
Fed raises its economic outlook slightly, sees 4.2% growth next year and 5% unemployment rate
The central bank now expects real gross domestic product to fall just 2.4% in 2020, compared to the decline of 3.7% predicted in September.
Homebuilder confidence drops from record high as rising prices hit buyers
Homebuilder confidence in the single-family housing market pulled back in December. Builders say they are concerned that buyers are feeling shock.
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