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CNBC Economic News

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Updated: 47 min 59 sec ago

Coronavirus stimulus just pushed Fed's balance sheet past $5 trillion for the first time ever

Fri, 03/27/2020 - 10:49
Though its efforts to keep markets running and boost the economy are just getting into gear, the Federal Reserve's asset portfolio has reached levels never seen before.

Pence says economic fundamentals remain strong despite massive coronavirus impact

Fri, 03/27/2020 - 10:34
Vice President Mike Pence said that the fundamentals of the U.S. economy remain strong despite the coronavirus pandemic that has tanked markets and led to unprecedented layoffs of millions.

IMF chief Georgieva says the world is in a recession, containment will dictate strength of recovery

Fri, 03/27/2020 - 09:50
International Monetary Fund chief Kristalina Georgieva said Friday that the global economy is now in a recession thanks to COVID-19.

US consumer sentiment falls to lowest level in more than 3 years

Fri, 03/27/2020 - 09:02
U.S. consumer sentiment fell to a three-year low as the coronavirus outbreak takes a toll on the economy, according to data from the University of Michigan.

US consumer spending rose, inflation was moderate in February

Fri, 03/27/2020 - 07:33
U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.

Jobless claims soar past 3 million to record high

Thu, 03/26/2020 - 07:22
The number shatters the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982.

US economy grew at 2.1% rate in fourth quarter

Thu, 03/26/2020 - 07:21
The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the impact of the coronavirus.

Tudor Jones says this is the biggest fiscal monetary 'bazooka' ever and more like a 'nuclear bomb'

Thu, 03/26/2020 - 06:22
"We did in two weeks what it took the Fed eight months to do in 2009," Hedge fund manager Paul Tudor Jones told CNBC.

Jerome Powell's message to Americans: 'The Federal Reserve is working hard to support you'

Thu, 03/26/2020 - 05:41
Federal Reserve Chairman Jerome Powell is trying to reassure Americans about this unprecedented financial crisis ignited by the coronavirus pandemic.

White House and Senate strike a deal on historic $2 trillion coronavirus stimulus bill

Wed, 03/25/2020 - 07:32
Majority Leader Mitch McConnell said the Senate will pass the legislation later Wednesday. The full text of the bill has not yet been released.

Bernanke says Fed chief Powell 'got ahead of this,' and 'going big' was right thing to do

Wed, 03/25/2020 - 07:17
Bernanke told CNBC the Federal Reserve acted with appropriate force.

Former Fed Chairman Ben Bernanke sees 'very sharp' recession, followed by 'fairly quick' rebound

Wed, 03/25/2020 - 07:02
Former Federal Reserve Chairman Ben Bernanke sounded an optimistic tone on the longer-term state of the economy,

Fed's James Bullard says after a short-term 'unparalleled' shock, economy will boom again

Wed, 03/25/2020 - 06:59
The central bank official was in the news earlier this week when he forecast that the unemployment rate will skyrocket to 30%, higher than it was even during the Great Depression.

US durable goods orders unexpectedly jump 1.2% in February

Wed, 03/25/2020 - 06:29
New orders for long-lasting U.S. manufactured goods unexpectedly rose in February, but are set to decline as strict measures to contain the coronavirus pandemic sap demand and push the economy into recession.

Democratic Sen. Chris Coons says $2 trillion coronavirus relief package was 'worth the day wait'

Wed, 03/25/2020 - 05:45
"The things that Democrats stood firm for, expanding unemployment, helping states and counties, investing in hospitals, transparency on the big fund" are now all included, the Delaware Democrat said on CNBC's "Squawk Box."

Weekly mortgage applications tank 29% as coronavirus sidelines homebuyers

Wed, 03/25/2020 - 04:55
A hike in interest rates, combined with a massive shutdown of the economy caused homeowners and potential homebuyers to back away from the mortgage market.

White House not considering three-month tariff deferral, top trade advisor Peter Navarro says

Wed, 03/25/2020 - 02:51
The White House's top trade advisor denied on Tuesday that the Trump administration was considering a three-month deferral of tariff payments on imported goods to ease the pain of the economic shutdown caused by the coronavirus pandemic.

The Federal Reserve just pledged asset purchases with no limit to support markets

Mon, 03/23/2020 - 07:06
The Federal Reserve launched a barrage of programs aimed at helping markets function more efficiently amid the coronavirus crisis.

Coronavirus stimulus bill fails in key Senate procedural vote

Mon, 03/23/2020 - 04:18
Democratic leaders warned that the bill did too much to bail out companies and not enough to help workers.

The government budget deficit is about to explode to fight the coronavirus

Sun, 03/22/2020 - 15:23
Remember when people were all worked up over trillion-dollar government budget deficits? Those might seem like the good old days.