Fed’s Harker says it will take ‘a while’ for jobs market to heal, would be OK with inflation at 2.5%
Patrick T. Harker, president of the Federal Reserve Bank of Philadelphia Charles Mostoller | Bloomberg | Getty Images Philadelphia Federal Reserve President Patrick Harker said Friday that it will take a significant amount of time before the U.S. sees unemployment figures...
Stocks making the biggest moves midday: Ulta, Coca-Cola, DraftKings & more
Pedestrians pass in front of an Ulta Beauty store in New York. Gabby Jones | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Ulta Beauty — Shares of the retailer gained 6% after the company’s second-quarter profit...
Economy, jobs, cost of living top Covid-19 fears as voters worry about their finances, CNBC/Change Research poll finds
With three months until the 2020 U.S. presidential election, a national poll finds that more than one-third of likely voters have a dismal view of their finances — and a bleak outlook for employment, wages, job security and health care....
Wirecard’s UK unit confirms plan to sell assets after disgraced payments firm goes bust
An employee demonstrates the Wirecard AG online payment smartphone app on the company’s exhibition stand at the Noah Technology Conference in Berlin, Germany, on Thursday, June 13, 2019. Krisztian Bocsi | Bloomberg via Getty Images Wirecard Card Solutions, the U.K....
Fed’s Mester says recovery will be ‘a slow one’ and more economic support is needed
The Federal Reserve will have to keep supporting the economy because the recovery from the coronavirus pandemic “is going to be a slow one,” a top official at the central bank said Friday. “There’s more pain out there that we’re...
Global CFOs now have a more positive economic outlook for China than the U.S., survey shows
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. Aly Song | Reuters Today the world’s leading chief financial officers have a more positive outlook...
US consumer spending rose a moderate 1.9% in July
U.S. consumers increased their spending by 1.9% last month, a dose of support for an economy struggling to emerge from the grip of a pandemic that has held back a recovery and kept roughly 27 million people jobless. The July...
Next up for the Federal Reserve: Convincing the markets it can do what it says it will do
Getty Images Now that Federal Reserve officials have sent a clear message on their desire for higher inflation, the tough part is convincing the world that they can pull it off. For the past decade, the Fed has struggled to...
A ‘double dip’ in the U.S. economy is ‘still possible,’ says former Fed official
The U.S. economy looks set to rebound in the current quarter from the previous three months’ deep contraction — but it could sink again if the coronavirus outbreak is not managed well, warned a former Federal Reserve official. Dennis Lockhart,...
Fed pledges to look at if the economy is working for lower-income communities when setting policy
The Fed wants its policies to lift many more boats and go far deeper to get lower-income and underemployed Americans to work, before it pulls back from its easy policy stance. Fed Chairman Jerome Powell on Thursday announced that the...
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