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CNBC Economic News

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Updated: 2 hours 33 min ago

Vaccines will be the 'most important' economic policy this year, IMF chief says

Wed, 06/16/2021 - 05:45
Vaccine policy will trump all other economic polices this year as the world tries to recover from the coronavirus crisis, Kristalina Georgieva said.

Mortgage refinances rebound as rates drop temporarily to lowest level in a month

Wed, 06/16/2021 - 04:00
After three straight weeks of declines, mortgage demand came crawling back, thanks to a drop in interest rates.

Homebuilder sentiment drops to 10-month low, as construction costs drive prices higher

Tue, 06/15/2021 - 07:25
Rising construction costs are sidelining buyers and making it harder for some builders to get construction loans.

Producer prices climb 6.6% in May on annual basis, largest 12-month increase on record

Tue, 06/15/2021 - 05:59
Retail sales were expected to decline by 0.6% in May, while producer prices were estimated to rise by 0.5%, according to economists surveyed by Dow Jones.

A full rundown of what to expect from the Federal Reserve on Wednesday

Tue, 06/15/2021 - 04:24
The Fed is not expected to take any policy actions after its meeting this week, but it is likely to signal that it is thinking about them.

Paul Tudor Jones says the Fed's credibility is at risk with inflation view

Mon, 06/14/2021 - 07:11
The central bank risks its credibility by keeping policy loose and allowing inflation to grow in a way that may not be transitory, Paul Tudor Jones told CNBC.

Bank of America's Moynihan says the Fed can pull back on policy help

Mon, 06/14/2021 - 07:01
Bank of America CEO Brian Moynihan encouraged the Federal Reserve to ease up on its ultra-easy monetary policy.

Bank of America CEO Brian Moynihan says consumer spending is 20% higher this year than 2019

Mon, 06/14/2021 - 05:49
Nearly all spending categories have recovered with the exception of travel, according to the Bank of America CEO.

Household net worth climbs to $136.9 trillion, thanks to big stock market gains

Thu, 06/10/2021 - 10:12
The total balance sheet for households and nonprofits rose to $136.9 trillion in the first quarter, a 3.8% gain from the end of 2020

Consumer prices jump 5% in May, fastest pace since the summer of 2008

Thu, 06/10/2021 - 06:58
The 3.8% rise in the core inflation rate, which excludes food and energy prices, was the sharpest increase in nearly three decades.

Hot inflation may have become scorching in May and is expected to hit a 28-year high

Wed, 06/09/2021 - 20:35
Economists expect core consumer inflation hit 3.5% in May, the fastest annual pace in 28 years.

'Impotent' Fed policy will fail to contain 1970s-type inflation, investor Peter Boockvar predicts

Wed, 06/09/2021 - 16:31
The Bleakley Advisory Group's Peter Boockvar predicts inflation will be the most widespread in decades.

Mortgage rates drop, but not enough for priced-out homebuyers

Wed, 06/09/2021 - 04:00
Mortgage rates fell slightly last week, but not enough to light a fire under mortgage demand.

U.S. trade deficit narrows slightly from record levels as Covid-era demand for imports lets up

Tue, 06/08/2021 - 08:21
The goods and services shortfall declined to $68.9 billion for the month, down from the upwardly revised $75.02 billion in March.

Job openings set new record of 9.3 million as labor market booms

Tue, 06/08/2021 - 08:20
Job openings in April soared to a new record high, with 9.3 million vacancies coming as the economy rapidly recovered from its pandemic depths.

The Fed is in early stages of a campaign to prepare markets for tapering its asset purchases

Mon, 06/07/2021 - 09:41
Comments by Fed officials in the past several weeks suggest the issue of tapering looks likely to be discussed as soon as next week's FOMC meeting.

Is there a labor shortage? What the May jobs report tells us

Mon, 06/07/2021 - 05:15
The much-anticipated May jobs report offers evidence for both sides of the labor-shortage argument, according to economists.

Higher interest rates would be good for the country, Treasury Secretary Yellen says

Sun, 06/06/2021 - 16:27
The president's $4 trillion spending proposal would be positive for the U.S., even if it hikes up interest rates, Treasury Secretary Janet Yellen said.

Jobs report shows improvement, but not enough to get Fed talking about tapering

Fri, 06/04/2021 - 10:43
Hiring improved in May, but many n Wall Street said the 559,000 jobs added was not sufficient to spur the Fed to begin discussing tapering its bond purchases.

Fed's Mester lauds jobs report but says it's not enough to change policy

Fri, 06/04/2021 - 10:13
May's job gains were "solid," but not enough to change the direction of monetary policy, Cleveland Fed President Loretta Mester told CNBC.