Updated: 2 hours 33 min ago
Vaccine policy will trump all other economic polices this year as the world tries to recover from the coronavirus crisis, Kristalina Georgieva said.
After three straight weeks of declines, mortgage demand came crawling back, thanks to a drop in interest rates.
Rising construction costs are sidelining buyers and making it harder for some builders to get construction loans.
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.
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.
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 CEO Brian Moynihan encouraged the Federal Reserve to ease up on its ultra-easy monetary policy.
Nearly all spending categories have recovered with the exception of travel, according to the Bank of America CEO.
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
The 3.8% rise in the core inflation rate, which excludes food and energy prices, was the sharpest increase in nearly three decades.
Economists expect core consumer inflation hit 3.5% in May, the fastest annual pace in 28 years.
The Bleakley Advisory Group's Peter Boockvar predicts inflation will be the most widespread in decades.
Mortgage rates fell slightly last week, but not enough to light a fire under mortgage demand.
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 in April soared to a new record high, with 9.3 million vacancies coming as the economy rapidly recovered from its pandemic depths.
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.
The much-anticipated May jobs report offers evidence for both sides of the labor-shortage argument, according to economists.
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.
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.
May's job gains were "solid," but not enough to change the direction of monetary policy, Cleveland Fed President Loretta Mester told CNBC.