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Economy
IMF cuts 2022 global growth forecast as U.S., China recovery wanes
The seal for the International Monetary Fund is seen near the World Bank headquarters (R) in Washington, DC on January 10, 2022.Stefani Reynolds | AFP | Getty ImagesThe…
The Fed is likely to signal a March interest rate hike and that further policy tightening is coming
U.S. Federal Reserve Board Chairman Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in…
Wholesale prices jump nearly 10% in 2021, another sign of growing inflation
Wholesale prices rose less than expected in December but still set a new standard at a time when consumer inflation is running at a nearly 40-year high, the Labor Department said…
Retail sales dropped 1.9% in December as higher prices caused consumers to curb spending
Retail sales fell much more than expected in December as surging prices took a big bite out of spending, the Commerce Department reported Friday.The advance monthly sales report to…
Jobless claims jump to 286,000, the highest level since October
Jobless claims took an unexpected turn higher last week in a potential sign that the wintertime omicron surge was hitting the employment picture.Initial filings for the week ended…
Inflation surge could push the Fed into more than four rate hikes this year, Goldman Sachs says
U.S. Federal Reserve Board Chairman Jerome Powell attends his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington,…
Inflation rises 7% over the past year, highest since 1982
Inflation plowed ahead at its fastest 12-month pace in nearly 40 years during December, according to a closely watched gauge the Labor Department released Wednesday.The consumer…
Fear of even higher mortgage rates may be heating up winter homebuying
An "Open House" sign is displayed in the front yard of a home for sale in Columbus, Ohio.Ty Wright | Bloomberg via Getty ImagesMortgage rates have moved to their highest level in…
Weekly jobless claims total 198,000, less than expected and around 52-year low
Initial filings for unemployment insurance dipped last week and remained close to their lowest level in more than 50 years, the Labor Department reported Thursday.Jobless claims…
Private job growth totals 807,000 in December, more than doubling expectations, ADP says
Companies hired at the fastest pace in seven months in December ahead of escalating concerns over surging Covid cases, according to a report Wednesday from payroll processing firm…