U.S. economy closes out 2020 with lower than expected 4% gain
After a year in which a pandemic and politics posed challenges unlike the U.S. has seen in generations, the economy closed 2020 in fairly good shape. Gross domestic product, or the sum of all goods and services produced, increased at...
Jobless claims rise less than expected at 847,000 first-time applicants
A woman walks past a closed retail store for lease in the midtown area of Manhattan on January 25, 2021 in New York City. Angela Weiss | AFP | Getty Images The number of Americans who filed for unemployment benefits...
The Federal Reserve doesn’t see risks to market stability, even as concern about bubbles grows
Some market pros see the frenzied short squeezes in GameStop and other stocks as signs of a bubble brewing, but the Federal Reserve doesn’t seem to and for that reason investors expect asset prices could continue to rise. Fed Chairman...
How systemic change, circular economies and climate action are key to achieving green goals
From geopolitical tensions to the coronavirus pandemic and disputes over trade, modern life can often feel bewildering, insecure and disjointed. One area where there does seem to be some renewed sense of unity is the environment. Just last week, U.S....
Federal Reserve leaves interest rates and asset purchases unchanged, sees growth slowing
A Federal Reserve police officer walks past the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S. Andrew Harrer | Bloomberg | Getty Images The Federal Reserve kept its foot to the floor Wednesday in terms of the help...
Fed Chairman Powell will try to soothe markets, but that may not work
U.S. Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus, during a news conference in Washington, March...
Weekly mortgage demand falls, but size of average homebuyer loan hits record
A real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Sharp gains in home prices and a slight rise in interest rates combined to...
U.S. stock futures mixed as Microsoft kicks off big-tech earnings on a high note
Dado Ruvic | Reuters Futures contracts tied to the major U.S. equity indexes were mixed during the overnight session Tuesday as Wall Street pored over earnings results from Microsoft and awaited similar updates from Apple, Facebook and Tesla due Wednesday....
Fed will need to reassure the market it’s not thinking about dialing back its support
Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, December 1, 2020. Susan Walsh | Pool | Reuters Federal Reserve Chairman Jerome Powell has...
Tilman Fertitta optimistic on U.S. economy post-Covid: ‘This is going to be the Roaring Twenties’
Billionaire restaurateur and casino operator Tilman Fertitta told CNBC on Tuesday he expects strong consumer spending to fuel the U.S. economic recovery from the coronavirus pandemic. “The consumer is coming back. I’m telling you, where we can do business, we...