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CNBC Economic News

Epic housing shortage may finally be starting to lift, as surprising number of new listings hit market in June

Thu, 07/01/2021 - 08:57
The epic housing shortage that began before the pandemic and then was exacerbated by it may finally be starting to ease up. More supply is hitting the market.

Weekly jobless claims total hits new pandemic-era low of 364,000

Thu, 07/01/2021 - 05:41
First-time claims for unemployment insurance were expected to total 390,000 for the week ended June 26.

The biggest threat to Biden's hot economy could be his own policies

Wed, 06/30/2021 - 13:23
As Americans resume pre-Covid activity and the Biden administration seeks even more stimulus, the president's policies may be his own biggest economic threat.

Biden's infrastructure plan would cut U.S. debt and slightly increase economic growth, Wharton study finds

Wed, 06/30/2021 - 05:07
Wharton found that Biden's infrastructure plan would cut the U.S. debt and slightly increase GDP.

As housing boom begins to fizzle, weekly mortgage demand falls nearly 7%

Wed, 06/30/2021 - 04:20
Weekly mortgage demand fell to the lowest level in almost a year and a half, as home prices sideline more buyers.

Home prices surged in April at a 'truly extraordinary' rate, S&P Case-Shiller says

Tue, 06/29/2021 - 07:29
Home prices in April saw an annual gain of 14.6%, up from a 13.3% increase in March, the S&P CoreLogic Case-Shiller National Home Price Index says.

El-Erian says the Fed is behind on inflation and risks another recession if it is forced to catch up

Mon, 06/28/2021 - 08:08
Fed officials are underestimating inflation and risking another recession, Mohamed El-Erian told CNBC on Monday.

Inflation looks bad now, but it's pretty much sticking to the script

Sat, 06/26/2021 - 12:55
What's bad news for consumers has been good news for policymakers as well as investors when it comes to inflation.

Key inflation indicator posts biggest year-over-year gain in nearly three decades

Fri, 06/25/2021 - 06:33
A key inflation indicator that the Federal Reserve uses to set policy rose 3.4% in May, the fastest increase since the early 1990s.

Jobless claims hold above 400,000 for the second week in a row

Thu, 06/24/2021 - 06:14
First-time claims for unemployment insurance were expected to total 380,000 for the week ended June 19.

Delaware is expected to move to a $15 per hour minimum wage. What that could mean for the push to increase the national pay rate

Thu, 06/24/2021 - 05:48
Delaware's $9.25 minimum wage would increase to $15 by 2025 once the governor signs a new law.

Fed Chair Powell says it's 'very, very unlikely' the U.S. will see 1970s-style inflation

Tue, 06/22/2021 - 15:41
Fed Chair Jerome Powell continued to attribute most of the recent inflation surge to factors closely tied to the economic reopening.

May existing home sales drop for a fourth straight month as affordability squeezes buyers out

Tue, 06/22/2021 - 07:02
Sales of existing homes dropped for the fourth straight month due to a very low supply of homes on the market.

Powell notes economic improvement, but says the pandemic remains a risk

Mon, 06/21/2021 - 15:07
Powell said in testimony prepared for delivery to Congress on Tuesday that the economy is growing but faces continued threats from the pandemic.

Fed's Jim Bullard sees first interest rate hike coming as soon as 2022

Fri, 06/18/2021 - 06:05
St. Louis Federal Reserve President James Bullard told CNBC that he sees an initial interest rate increase happening in 2022 as inflation picks up.

Mortgage rates shoot higher after Fed Chairman Powell's comments

Thu, 06/17/2021 - 09:40
Mortgage rates moved decidedly higher after Federal Reserve Chairman Jerome Powell moved up his timeline for raising rates and tapering asset purchases.

Jobless claims show surprise increase to highest level in a month

Thu, 06/17/2021 - 06:08
First-time claims for unemployment insurance were expected to total 360,000, according to economists surveyed by Dow Jones.

The Fed moves up its timeline for rate hikes as inflation rises

Wed, 06/16/2021 - 17:43
However, the central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program.

The Federal Reserve now forecasts at least two rate hikes by the end of 2023

Wed, 06/16/2021 - 12:34
Every quarter, members of the FOMC forecast where interest rates will go in the short, medium and long term.

Here’s what changed in the new Fed statement

Wed, 06/16/2021 - 11:50
This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policy-making meeting on April 28.