Updated: 2 hours 14 min ago
Weekly jobless claims totaled 419,000 for the week ended July 17, above the 350,000 estimate.
A volatile environment for government bonds is reflecting a highly uncertain future for the U.S. economy.
Building permits, an indicator of future construction, fell more than expected to the lowest since August.
The Covid-19 recession is in the books as the shortest in U.S. history, the National Bureau of Economic Research said Monday.
Treasury Secretary Janet Yellen expects inflation run to ease, though she cautioned that prices could continue to rise over the next several months.
Federal Reserve Chairman Jerome Powell appears Thursday before the Senate Banking Committee.
Weekly jobless claims totaled 360,000 last week, matching Wall Street estimates.
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 said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy.
Daly told CNBC that a strong economic recovery will allow the central bank to slow its asset purchases, possibly near the end of 2021.
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.
The consumer price index was expected to increase 5% year over year in June, according to economists surveyed by Dow Jones.
Federal Reserve Chairman Jerome Powell speaks to Congress this week in an update on monetary policy.
The June Survey of Consumer Expectations showed that median inflation expectations over the next 12 months jumped to 4.8%.
President Joe Biden said the strong June jobs report proves his economic plan and his nationwide vaccination plan are working better than expected.
Robust hiring at restaurants and bars, public schools and retailers helped lead the U.S. economy to post 850,000 jobs in June.
Nonfarm payrolls were expected to increase by 706,000 in June while the unemployment rate was forecast to fall to 5.6%.
June jobs growth is expected to outpace May as more Americans rejoined the workforce, even as companies continued to struggle to find employees.
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.
A group of 130 nations has agreed to a global minimum tax on corporations, part of a broader effort to overhaul international tax rules.