Economy

Powell pledges the Fed’s economic aid ‘for as long as it takes’

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Financial Services Committee hearing in Washington, D.C., on Tuesday, Feb. 11, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell pledged continued support for...

Existing home sales jump to 14-year high, as prices set another record

A home for sale is seen in Santa Monica, California. Lucy Nicholson | Reuters After a record-setting July, the housing market still shows no sign of cooling off. Sales of existing homes rose 2.4% to a seasonally adjusted annualized rate of...

Fed’s Bullard says ‘biggest growth quarter of all time’ will lift inflation

James Bullard Olivia Michael | CNBC St. Louis Federal Reserve President James Bullard offered an optimistic look on the U.S. economy, with "off the charts" growth that will help lift inflation. Bullard also said he sees the unemployment rate falling to...

Michael Farr: The problem with the U.S. economy is there are too many poor...

A Kelly Center for Hunger Relief volunteer sorts through food for distribution as residents in vehicles wait in line at a church in El Paso, Texas, on July 17. Joel Angel Juarez/Bloomberg via Getty Images Are you in the top...

Fed leaves rates unchanged – Three experts on what that means

The Fed left rates unchanged in its last meeting before the 2020 presidential election in November. It also indicated rates were unlikely to rise until at least 2023. Three experts weigh in on what the Fed decision means. David Kelly,...

Fed holds rates steady near zero and indicates it will stay there for years

The Federal Reserve kept its pledge to keep interest rates anchored near zero and promised to keep rates there until inflation rises consistently. As the central bank concluded its two-day policy meeting Wednesday, it said short-term rates would remain targeted...

Fed picks its side in inflation debate and sends market a message — no...

The Fed does not expect to see inflation pick up for years, and it is willing to keep rates at zero even after it does. Stocks initially surged after the Fed released its post-meeting statement and its latest economic forecast,...

U.S. housing starts fall more than expected in August as multi-family home construction slumps

U.S. homebuilding fell in August after strong gains in the prior three months, but the housing market remains supported by record-low interest rates and demand for properties in the suburbs and low-density areas as many people work from home. Housing...

Climate change is fueling wildfires in the West, ravaging local economies

Bobcat fire approaches Sierra Madre and Arcadia communities in California, U.S., September 13, 2020 in this picture obtained from social media. Photo taken September 13, 2020. John Mirabella | Reuters Despite official resistance to the idea in the Trump administration,...

Jobless claims were lower than expected but employment growth is still sluggish

First-time claims for unemployment insurance beat Wall Street estimates last week as the U.S. economy enters a critical new stage. Filings totaled 860,000 for the week ended Sept. 12, the Labor Department reported Thursday. Economists surveyed by Dow Jones had...

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