Economy

Stubbornly high inflation could push the Federal Reserve into a more cautious stance this year regarding interest rate cuts, the central bank’s former vice chair said Friday. Richard Clarida, who served as Fed governor until January 2022 and is now a global economic advisor at asset management giant Pimco, said his former colleagues need to

A picture taken on August 14, 2018 shows the logo of Turkey’s Central Bank at the entrance of its headquarters in Ankara, Turkey. ADEM ALTAN | AFP | Getty Images Turkey’s central bank is opting for a different monetary tightening method as it grapples with climbing inflation, after previously signaling that its rate-hiking cycle was

 A customer shops for food at a grocery store on March 12, 2024 in San Rafael, California.  Justin Sullivan | Getty Images News | Getty Images Wholesale prices accelerated at a faster than expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy. The producer price index, which measures

Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada.  Artur Widak | Nurphoto | Getty Images Saudi Arabia’s state oil giant Aramco reported

People work at a restaurant at Chelsea Market in Manhattan on February 02, 2024 in New York City.  Spencer Platt | Getty Images Private sector job growth improved during February though growth was slightly less than expected, payrolls processing firm ADP reported Wednesday. Companies added 140,000 positions for the month, an increase from the upwardly

A salesman preparing a bag of sweets for a customer in the Sicilian confectionery shop Mazzone on February 02, 2024 in Catania, Italy.  Fabrizio Villa | Getty Images News | Getty Images Inflation in the 20-nation euro zone eased to 2.6% in February, flash figures showed on Friday, but both the headline and core figures

In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT JPMorgan Chase CEO Jamie Dimon thinks there’s a better-than-even chance that the U.S. is heading for a recession, though he doesn’t see systemic issues looming. Speaking Monday from the JPMorgan High Yield and Leveraged Finance Conference in Miami, the head of the largest U.S. bank

A construction site with new apartments in newly built apartment buildings. Patrick Pleul | Picture Alliance | Getty Images Germany’s housebuilding sector has gone from bad to worse in recent months. Economic data is painting a concerning picture, and industry leaders appear uneasy. “The housebuilding sector is, I would say, a little bit in a

Wholesale prices rose more than expected in January, further complicating the inflation picture, according to a U.S. Department of Labor report Friday. The producer price index, a measure of prices received by producers of domestic goods and services, rose 0.3% for the month, the biggest move since August. Economists surveyed by Dow Jones had been

Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday. Advance retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones were looking for a

People shop in a supermarket in the Manhattan borough of New York city on January 27, 2024. Charly Triballeau | AFP | Getty Images The prices consumers pay in the marketplace rose at an even slower pace than originally reported, according to closely watched revisions the government released Friday. Updates to the consumer price index

A mosaic collection of world currencies. FrankvandenBergh | E+ | Getty Images The world is looking at a debt crisis that will span the next 10 years and it’s not going to end well, economist Arthur Laffer has warned, with global borrowings hitting a record of $307.4 trillion last September.  Both high-income countries as well

Fs Productions | Tetra Images | Getty Images Black men lost ground in the workforce last month, marking a continuation of the disparities that have permeated the U.S. labor market. Black males who were at least 20 years old saw an unemployment rate of 5.3% in January, up from 4.6% in December, according to seasonally

Buildings in Pudong’s Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024.  Bloomberg | Bloomberg | Getty Images The International Monetary Fund on Tuesday nudged its global growth forecast higher, citing the unexpected strength of the U.S. economy and fiscal support measures in China. It now sees global growth in 2024 at 3.1%,

People walk by sale signs in the Financial District on the first day back for the New York Stock Exchange (NYSE) since the Christmas holiday on December 26, 2023 in New York City. Spencer Platt | Getty Images An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came

Jim Dyson | Getty Images News | Getty Images The global economy does not need a “collapse” in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth. Major economies have proven surprisingly resilient to sharp interest rate increases

A networking and hiring event for professionals of color in Minneapolis, MN.  Michael Siluk | Getty Images The labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week. Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, the

Wholesale prices unexpectedly declined in December, providing a positive signal for inflation, the Labor Department reported Friday. The producer price index fell 0.1% for the month and ended 2023 up 1% from a year ago, the Labor Department reported Friday. Economists surveyed by Dow Jones had been expecting a monthly gain of 0.1%. The index