Fed’s Harker says inflation won’t be posing a threat anytime soon
Philadelphia Federal Reserve President Patrick Harker said Thursday that the central bank won’t have to worry about inflation getting in its way anytime soon. In a CNBC interview, Harker faced a question posed repeatedly to Fed officials in recent days...
Deficit projected at $2.3 trillion for 2021, not counting additional stimulus, CBO says
The federal budget deficit is projected to total $2.3 trillion in the 2021 fiscal year, a drop from last year but well ahead of anything the U.S. had seen prior to the Covid-19 pandemic, the Congressional Budget Office reported Thursday....
Jobless claims worse than expected as pandemic-related filings surge
First-time claims for unemployment insurance totaled 793,000 last week as declining Covid-19 cases provided little relief for the jobs market. The total for the week ended Feb. 6 was above the 760,000 forecast from economists surveyed by Dow Jones but...
Uber won’t buy bitcoin with its cash but would consider accepting it as payment, CEO says
Uber CEO Dara Khosrowshahi told CNBC on Thursday the company discussed but “quickly dismissed” the idea of buying bitcoin with corporate cash like Telsa. However, Khosrowshahi said Uber would consider accepting cryptocurrencies as payment. The comments come after Tesla announced...
Biden gets 62% approval in CNBC economic survey, topping first ratings of the last four presidents
President Joe Biden is on the best presidential honeymoon since at least Bill Clinton in 1993. A special online edition of the CNBC All-America Economic Survey focusing on the Biden agenda finds his approval rating at a sky-high 62%, beating...
Retail investors’ thirst for small caps has merit, Wells Fargo’s top strategist suggests
A popular spot targeted by retail investors may deliver the year’s biggest gains. Wells Fargo Securities’ Chris Harvey said he believes the affinity for small caps has merit because growth stocks have gotten so expensive. “Retail is very influential,” the...
Fed Chair Powell says rates will stay low for a while, citing bleak jobs picture
Federal Reserve Chairman Jerome Powell on Wednesday painted a dour picture on the state of U.S. employment, saying continued aggressive policy support is needed to fix the myriad issues still facing workers. Addressing the issue will require a “patiently accommodative...
Stock futures rise slightly after equities snap six-day winning streak
U.S. stock rose slightly in early morning trading on Wednesday following the regular session that snapped a six-day winning streak on Wall Street. Dow futures rose 74 points. S&P 500 futures and Nasdaq 100 futures also both traded in mildly...
Inflation likely increased slightly in January, bolstered by rising gas prices
Getty Images Investors are waiting for inflation to pick up, but the consumer price index should show just a slight gain in January, boosted by rising gasoline prices. Economists expect a consensus 0.3% increase in the index, a measure of...
Job openings increased toward the end of 2020, but a big employment gap remains
A hiring sign is posted i front of a Target store on February 05, 2021 in San Rafael, California. Justin Sullivan | Getty Images Employers added slightly more job posts late last year, but hiring slipped as the labor market...