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CNBC Economic News

Weekly jobless claims hold around pandemic-era low; GDP revised higher to 6.6%

Thu, 08/26/2021 - 07:23
First-time jobless claims filings totaled 353,000 for the week ended Aug. 21 while second-quarter- GDP growth was revised up to 6.6%.

Fed's Esther George says it's time to start easing off on policy juice

Thu, 08/26/2021 - 05:29
Kansas City Fed President Esther George said it's time for the central bank to start dialing back its policy stimulus.

The economy could be getting help from positive news on the delta variant

Wed, 08/25/2021 - 17:26
If the recovery is going to continue, it will need delta to fade, and there are signs that the tide might be turning, albeit slowly.

Home sales rose for the second straight month in July, as demand outpaced slightly stronger supply

Mon, 08/23/2021 - 07:00
Home sales rose for the second straight month but were barely higher than in July 2020.

Federal Reserve preparing for taper this year, July minutes show

Wed, 08/18/2021 - 17:15
The Federal Reserve on Wednesday released the minutes from its July 27-28 meeting.

Mortgage rates hit their highest level in a month, and weekly demand drops

Wed, 08/18/2021 - 04:00
Mortgage demand drops after rates rise to highest level in a month.

Homebuilder sentiment falls to lowest level in a year as buyers face sticker shock

Tue, 08/17/2021 - 08:27
Homebuilder sentiment falls to the lowest level in a year, due to rising construction costs pushing home prices higher.

Retail sales drop worse-than-expected 1.1% in July as rising Covid fears hit consumers

Tue, 08/17/2021 - 05:45
Retail sales were expected to decrease 0.3% in July, according to economists surveyed by Dow Jones.

Retail sales likely dipped in July as consumers held off on purchases amid Covid delta worries

Mon, 08/16/2021 - 13:20
Consumers, concerned over Covid delta spread, likely spent less in July, economists say.

There's growing support within the Fed to announce the tapering of bond purchases in September

Mon, 08/16/2021 - 04:20
Interviews with officials along with their public comments show growing support for a faster taper timeline than markets had expected a month ago.

Consumer sentiment measure falls to pandemic-era low, sees one of largest drops on record

Fri, 08/13/2021 - 12:41
The University of Michigan consumer sentiment index dropped more than 13% in its preliminary August reading.

U.S. jobless claims total 375,000, falling for a third straight week

Thu, 08/12/2021 - 06:28
Jobless claims numbers have come down sharply since the spring as the economy has recovered, and they have settled near the 400,000 level in recent weeks.

July consumer prices jump 5.4%, but core inflation rises less than expected

Wed, 08/11/2021 - 11:13
Prices that Americans pay for everyday goods and services accelerated in July, but about where economists had expected.

Fed should announce bond taper in September, begin it in October, says Dallas Fed President Kaplan

Wed, 08/11/2021 - 11:13
Dallas Fed President Robert Kaplan said that the central bank should begin to taper its monthly purchases of Treasury bonds in October.

Job openings surge above 10 million for first time ever, Labor Department says

Mon, 08/09/2021 - 10:18
The jump came as the quits increased while the layoffs and discharges rate was unchanged, reflecting increased bargaining power for workers.

Biden skips victory lap after strong July jobs report, warns of economic peril from rising Covid cases

Fri, 08/06/2021 - 11:08
President Joe Biden said the strong July jobs numbers were no cause for celebration, because rising Covid cases pose an urgent threat.

July’s strong jobs report could prepare the Federal Reserve to dial back its bond-buying program

Fri, 08/06/2021 - 10:12
The latest jobs report from the Labor Department reflects progress, which could put the central bank on track to dial back its bond purchases.

Unemployment rate falls for every group but is higher for Black and Hispanic workers

Fri, 08/06/2021 - 09:22
Black and Hispanic unemployment dropped in the July jobs report, but the figures are high compared with the jobless rate for whites and Asians.

Payrolls increase 943,000 in July as unemployment rate slides to 5.4%

Fri, 08/06/2021 - 07:18
Hiring rose in July at its fastest pace in nearly a year despite fears over the delta variant and as companies struggled with a tight labor supply.