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CNBC Economic News

CEO outlook dims sharply, with more than half expecting a recession ahead, survey shows

Wed, 05/18/2022 - 06:03
The Conference Board measure of CEO sentiment showed that 57% expect the economy to sustain a "very short, mild recession."

Households are now spending the equivalent of $5,000 a year on gasoline: Yardeni

Wed, 05/18/2022 - 05:29
U.S. households are now spending the equivalent of $5,000 a year on gasoline, up from $2,800 a year ago, according to Yardeni Research.

Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll

Wed, 05/18/2022 - 04:00
Higher mortgage interest rates are hitting homebuyer affordability hard, and that is showing up in a sharp drop in mortgage applications.

Powell says the Fed will not hesitate to keep raising rates until inflation comes down

Tue, 05/17/2022 - 11:58
Fed Chairman Jerome Powell said he will back interest rate increases until prices start falling back toward a healthy level.

California's gas average tops $6 per gallon as prices surge across the U.S.

Tue, 05/17/2022 - 09:29
California's state average for a gallon of gas hit a record above $6.

Retail spending increased 0.9% in April, boosted by demand and inflation

Tue, 05/17/2022 - 07:15
Retail sales were expected to rise 1% in April, according to Dow Jones estimates.

Homebuilder sentiment falls to 2-year low on declining demand and rising costs

Tue, 05/17/2022 - 07:12
"Housing leads the business cycle, and housing is slowing," said NAHB Chairman Jerry Konter, a builder and developer.

Fed's Waller promises to tackle inflation, says mistakes of the '70s won't be repeated

Tue, 05/10/2022 - 15:49
Fed Governor Christopher Waller pledged that the rate-setting group wouldn't make the same mistakes on inflation that it did in the 1970s.

April's consumer price index report expected to show inflation has already peaked

Tue, 05/10/2022 - 15:35
April's consumer price index may show inflation has reached its height.

Inflation outlook for consumers falls from record high, Fed survey shows

Mon, 05/09/2022 - 09:00
Inflation expectations over the next year fell to a median 6.3% in April, a 0.3 percentage point decrease from the record high the previous month.

Fed's Neel Kashkari confident inflation can come down, but not without some pain

Mon, 05/09/2022 - 06:07
Minneapolis Federal Reserve President Neel Kashkari said Monday he's confident inflation will come back to normal, though it's taking longer than he expected.

Here's where the jobs are — in one chart

Fri, 05/06/2022 - 13:33
Hiring in the manufacturing, transportation and health-care sectors helped the U.S. economy add more than 400,000 jobs in April.

Payroll growth accelerated by 428,000 in April, more than expected as jobs picture stays strong

Fri, 05/06/2022 - 11:36
Nonfarm payrolls grew by 428,000 for the month, a bit above the Dow Jones estimate of 400,000. The unemployment rate was 3.6%.

'Unretirement' is becoming a hot new trend in the sizzling U.S. labor market

Thu, 05/05/2022 - 13:32
The level of workers who retired then came back a year later is running around 3.2%, just about where it was before the pandemic.

Worker output fell 7.5% in the first quarter, the biggest decline since 1947

Thu, 05/05/2022 - 12:53
Worker productivity fell to start 2022 at its fastest pace in nearly 75 years while labor costs soared.

Regulators propose first major revamp to fair housing rules since 1995

Thu, 05/05/2022 - 11:38
The changes would tailor the Community Reinvestment Act's approach to making sure banks are not engaging in "redlining."

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

Thu, 05/05/2022 - 04:58
Wednesday's rate hike will push the federal funds rate to a range of 0.75%-1%.

Private payrolls increased by 247,000 in April, well below the estimate, ADP says

Wed, 05/04/2022 - 06:14
Private payrolls increased by just 247,000 for the month, well below the 390,000 Dow Jones estimate.

Weekly mortgage demand rose for the first time since early March last week, but it won't last

Wed, 05/04/2022 - 04:03
Total mortgage application volume rose 2.5% for the week ended April 29 compared with the previous week, according to the MBA's seasonally adjusted index.

Job openings and the level of people quitting their jobs reached records in March

Tue, 05/03/2022 - 08:38
Employment openings exceeded the level of available workers by 5.6 million in March while a record number of people quit their jobs.