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CNBC Economic News

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Updated: 1 hour 41 min ago

Jobless claims were lower than expected but employment growth is still sluggish

Thu, 09/17/2020 - 05:59
First-time claims for unemployment insurance beat Wall Street estimates last week as the U.S. economy enters a critical new stage.

U.S. housing starts fall more than expected in August as multi-family home construction slumps

Thu, 09/17/2020 - 05:55
U.S. homebuilding fell in August after strong gains in the prior three months, but the housing market remains supported by record-low interest rates and demand for properties in the suburbs and low-density areas as many people work from home.

Climate change is fueling wildfires in the West, ravaging local economies

Thu, 09/17/2020 - 05:33
Wildfires, driven by climate change, are raging across the Western United States crushing local economies. It's a wakeup call for the Trump administration.

Fed picks its side in inflation debate and sends market a message — no rate hikes for years

Wed, 09/16/2020 - 16:33
The Fed does not expect to see inflation to pick up for years, and it is willing to keep rates at zero even after it does.

Fed leaves rates unchanged – Three experts on what that means

Wed, 09/16/2020 - 15:56
The Fed left rates unchanged in its last meeting before the 2020 presidential election in November. It also indicated rates were unlikely to rise until at least 2023. Three experts weigh in on what the Fed decision means.

Fed holds rates steady near zero and indicates it will stay there for years

Wed, 09/16/2020 - 12:07
The Federal Reserve kept its pledge to keep interest rates anchored near zero and promised to keep rates there until inflation rises consistently.

U.S. consumer spending appears to slow in August

Wed, 09/16/2020 - 05:51
U.S. consumer spending appeared to slow in August as extended unemployment benefits were cut for millions of Americans.

Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent

Wed, 09/16/2020 - 05:32
Yelp on Wednesday released its latest Economic Average Report, revealing business closures across the U.S. are increasing as a result of the coronavirus.

Mortgage demand fell last week as interest rates stalled

Wed, 09/16/2020 - 04:45
With no major move in mortgage rates, there was no sudden incentive to refinance a home loan last week, so fewer people did.

In last meeting before election, the Fed could placate markets with promise of low rates for years

Wed, 09/16/2020 - 03:29
The Fed is unlikely to take any policy actions Wednesday, but it is expected to say it will keep its dovish policies in place for years.

OECD projects global GDP will collapse by 4.5% this year

Wed, 09/16/2020 - 02:37
Going forward, the OECD expects the global economy to grow by 5% in 2021.

The Fed could still move markets Wednesday even with rates on hold for the foreseeable future

Tue, 09/15/2020 - 17:06
The Federal Open Market Committee will provide its quarterly update on where it sees GDP, unemployment and inflation heading.

U.S. import prices beat expectations in August as inflation warms up

Tue, 09/15/2020 - 06:31
U.S. import prices increased more than expected in August and gains in the prior month were revised sharply higher, supporting views that inflation pressures were building up.

A snapshot of the $1.2 trillion freelance economy in the U.S. in the age of Covid-19

Tue, 09/15/2020 - 06:00
More than one-third of the American workforce freelance amid the Covid-19 pandemic, contributing $1.2 trillion to the U.S. economy, a study by Upwork revealed Tuesday.

The Federal Reserve will stay on hold until 2023, according to CNBC survey

Tue, 09/15/2020 - 04:30
The Fed will likely keep interest rates at near zero until February 2023, according to latest CNBC Fed Survey.

U.S. consumer prices increase solidly in August

Fri, 09/11/2020 - 05:36
U.S. consumer prices increased solidly in August, but labor market slack is likely to keep a lid on inflation as the economy recovers from the Covid-19 recession.

Goldman now sees a 35% jump in Q3 GDP, much higher than the rest of Wall Street

Thu, 09/10/2020 - 12:31
Goldman economists said third quarter GDP growth is tracking at 35%, driven in large part by the surprising strength of consumer spending.

Alan Greenspan lists inflation and the budget deficit as his biggest concerns

Thu, 09/10/2020 - 10:20
On the budget deficit, he said the federal government's spending imbalance is "getting out of hand."

Weekly jobless claims miss estimates as employment gains taper

Thu, 09/10/2020 - 06:44
First-time filings for unemployment claims had been expected to total 850,000 last week, according to economists surveyed by Dow Jones.

U.S. producer prices beat expectations in August

Thu, 09/10/2020 - 06:31
U.S. producer prices rose a bit more than expected in August as the cost of services increased solidly, while underlying producer inflation continued to firm.