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CNBC Economic News

Here's where the jobs are — in one chart

Fri, 08/06/2021 - 07:18
The hiring blitz at bars, restaurants and hotels continued in July and led the U.S. to yet another robust month of employment gains.

Continuing jobless claims hit new pandemic-era low, falling below 3 million

Thu, 08/05/2021 - 07:40
Initial jobless claims totaled 385,000 for the week ended July 31, meeting estimates.

Fed Vice Chair Clarida anticipates rate hikes starting in 2023, sees upside risks to inflation

Wed, 08/04/2021 - 17:16
Fed Vice Chairman Richard Clarida said the central bank is likely to hit its targets by the end of next year and start raising rates again in 2023.

Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate

Wed, 08/04/2021 - 06:37
The 330,000 new positions is also a sharp deceleration from June.

Yellen says enacting Biden's agenda is key to keeping U.S. the 'world’s pre-eminent economic power'

Wed, 08/04/2021 - 04:09
Yellen is trying to rally the public behind the bipartisan infrastructure bill and Democrats' even bigger $3.5 trillion spending plan.

Biden approval ratings on Covid and economy fall in new CNBC All-America survey

Tue, 08/03/2021 - 09:24
CNBC's All-America Economic survey showed 48% of American adults approved of the job Biden is doing as president, up a point from the first quarter.

Household debt jumps by the most in 14 years to nearly $15 trillion in the second quarter

Tue, 08/03/2021 - 08:15
Household debt rose by its highest dollar amount in 14 years during the second quarter, thanks mostly to a surge in the housing market.

Fed Governor Waller sees reduction in bond purchases possibly starting in October

Mon, 08/02/2021 - 13:23
The Fed could begin tapering as early as October under a scenario central bank Governor Christopher Waller set out to CNBC.

Key inflation indicator up 3.5% year over year in June for fastest gain since 1991

Fri, 07/30/2021 - 06:17
An inflation indicator that the Fed uses as its key guide rose 3.5% in June, a sharp acceleration that was nonetheless right around expectations.

Pending home sales drop in June — more evidence of a housing turnaround

Thu, 07/29/2021 - 07:23
After rising in May, signed contracts on existing homes fell in June due to sky-high prices.

U.S. GDP rose 6.5% last quarter, well below expectations

Thu, 07/29/2021 - 07:16
While the GDP gain would have been strong prior to the pandemic, it was considerably less than the 8.4% Dow Jones estimate.

Fed holds rates near zero, says economy has gotten better even with pandemic worries

Wed, 07/28/2021 - 17:42
The Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread.

Mortgage rates just dropped to a six-month low, and refinances shoot higher

Wed, 07/28/2021 - 04:02
Applications to refinance a home loan jumped 9% last week from the previous week, according to the Mortgage Bankers Association.

The Fed could sound more worried about the virus and less ready to tighten policy

Tue, 07/27/2021 - 11:03
When the Fed emerges from its July meeting on Wednesday, it may sound a bit more dovish than expected just a few weeks ago.

IMF warns that inflation could prove to be persistent and central banks may need to act

Tue, 07/27/2021 - 06:01
For the most part, the Washington-based institution sees these price pressures as transitory. However, it warned that "uncertainty remains high."

Home prices broke records in May, according to S&P Case-Shiller

Tue, 07/27/2021 - 06:00
Home prices continue to break records, as strong demand slams up against weak supply.

Housing boom is over as new home sales fall to pandemic low

Mon, 07/26/2021 - 08:44
After a year of frenzied buying and price gains in the double digits, newly built homes are now out of reach for much of the demand that remains in the market.

The rapid growth the U.S. economy has seen is about to hit a wall

Fri, 07/23/2021 - 14:52
The U.S. economy is expected to post another roaring growth spurt in the second quarter, before a slow and steady dose of reality starts to sink in.

Yellen urges Congress to raise or suspend the debt limit by Aug. 2

Fri, 07/23/2021 - 14:12
Treasury Secretary Yellen warned her department will start "extraordinary measures" on Aug. 2 if lawmakers don't raise the debt ceiling.

Sales of existing homes rise slightly as more listings finally hit the market

Thu, 07/22/2021 - 12:42
After four straight months of declines, sales of previously owned homes rose 1.4% in June month to month.