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CNBC Economic News

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Updated: 2 hours 14 min ago

U.S. jobless claims show surprise gain, well above expectations

Thu, 07/22/2021 - 09:56
Weekly jobless claims totaled 419,000 for the week ended July 17, above the 350,000 estimate.

The bond market is torn over the potential for higher inflation and lower growth

Wed, 07/21/2021 - 12:51
A volatile environment for government bonds is reflecting a highly uncertain future for the U.S. economy.

Builders pull back as more homebuyers are priced out of the market

Tue, 07/20/2021 - 08:19
Building permits, an indicator of future construction, fell more than expected to the lowest since August.

It's official: The Covid recession lasted just two months, the shortest in U.S. history

Mon, 07/19/2021 - 12:30
The Covid-19 recession is in the books as the shortest in U.S. history, the National Bureau of Economic Research said Monday.

Yellen sees 'several more months of rapid inflation' before easing, worries about housing impact

Fri, 07/16/2021 - 04:31
Treasury Secretary Janet Yellen expects inflation run to ease, though she cautioned that prices could continue to rise over the next several months.

Watch Fed Chair Powell speak live to Senate banking panel on the economy and policy

Thu, 07/15/2021 - 06:19
Federal Reserve Chairman Jerome Powell appears Thursday before the Senate Banking Committee.

Jobless claims hit new pandemic low, while New York manufacturing notches record high

Thu, 07/15/2021 - 06:17
Weekly jobless claims totaled 360,000 last week, matching Wall Street estimates.

Wholesale prices rose 7.3% in June from a year ago for a record surge

Wed, 07/14/2021 - 09:22
The producer price index, which measures what companies get for the goods they produce, increased 1% from May and jumped 7.3% on a year-over-year basis.

Powell says the Fed is still a ways off from altering policy, expects inflation to moderate

Wed, 07/14/2021 - 06:08
Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy.

Fed's Mary Daly says tapering of bond purchases may start this year

Tue, 07/13/2021 - 09:39
Daly told CNBC that a strong economic recovery will allow the central bank to slow its asset purchases, possibly near the end of 2021.

Inflation just jumped the most in years, yet markets are largely ignoring it. Here's why

Tue, 07/13/2021 - 08:23
A spike in the June 2021 consumer price index reading may be little cause for alarm thanks to a dizzying, but isolated, rise in used car prices.

Inflation climbs higher than expected in June as price index rises 5.4%

Tue, 07/13/2021 - 06:29
The consumer price index was expected to increase 5% year over year in June, according to economists surveyed by Dow Jones.

Fed Chair Powell charged with convincing Congress this week that easy policy is still needed

Mon, 07/12/2021 - 15:01
Federal Reserve Chairman Jerome Powell speaks to Congress this week in an update on monetary policy.

Inflation expectations surge, hitting new high for New York Fed survey

Mon, 07/12/2021 - 09:18
The June Survey of Consumer Expectations showed that median inflation expectations over the next 12 months jumped to 4.8%.

Biden on June jobs report: 'Our economy is on the move and we have Covid-19 on the run'

Fri, 07/02/2021 - 08:44
President Joe Biden said the strong June jobs report proves his economic plan and his nationwide vaccination plan are working better than expected.

Here's where the jobs are — in one chart

Fri, 07/02/2021 - 07:12
Robust hiring at restaurants and bars, public schools and retailers helped lead the U.S. economy to post 850,000 jobs in June.

U.S. adds 850,000 jobs in June, better than expected

Fri, 07/02/2021 - 05:48
Nonfarm payrolls were expected to increase by 706,000 in June while the unemployment rate was forecast to fall to 5.6%.

Job growth likely will look stronger in June report as companies scramble to find workers

Fri, 07/02/2021 - 03:57
June jobs growth is expected to outpace May as more Americans rejoined the workforce, even as companies continued to struggle to find employees.

U.S. deficit will total $3 trillion in fiscal 2021, budget panel says

Thu, 07/01/2021 - 11:31
The federal government will be swimming in $3 trillion of red ink by the end of fiscal 2021, according to a CBO estimate released Thursday.

130 nations agree to support U.S. proposal for global minimum tax on corporations

Thu, 07/01/2021 - 09:52
A group of 130 nations has agreed to a global minimum tax on corporations, part of a broader effort to overhaul international tax rules.

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