Biden meets with Fed leaders Powell and Brainard as nomination decision nears
Lael Brainard, governor of the U.S. Federal Reserve with Fed Governors, Jerome Powell and Stanley Fischer. Andrew Harrer | Bloomberg | Getty Images President Joe Biden met with Federal Reserve Chairman Jerome Powell and Governor Lael Brainard on this week...
Job creation roars back in October as payrolls rise by 531,000
The U.S. job market snapped back in October, with nonfarm payrolls rising more than expected while the unemployment rate fell to 4.6%, the Labor Department reported Friday. Nonfarm payrolls increased by 531,000 for the month, compared with the Dow Jones...
Long-term unemployment falls by 357,000 people but is still elevated
A man speaks with a woman about openings at a bakery at the Employers Only Long Island Food, Beverage and Hospitality Job Fair on Oct. 19, 2021 in Melville, New York. BRYAN R. SMITH | AFP | Getty Images About...
Strong jobs report shows economy back on track for further growth
Workers at Stellantis’ Detroit Assembly plant which produces the new 2021 Grand Cherokee L, a new three-row SUV. Michael Wayland | CNBC Broad-based strength in hiring in October signals the economy is shaking off the Covid-related slump of the third...
Higher inflation may be ‘more entrenched’ than transitory, CEO of major Asian bank says
SINGAPORE — There are signs that higher prices will become “more entrenched” and harder to reverse, according to the chief executive of Singapore’s largest bank. “You’re beginning to see more entrenched inflation coming through,” Piyush Gupta, CEO of DBS...
Stocks making the biggest moves midday: Moderna, Nvidia, Etsy and more
Medical syringe is seen with Moderna company logo displayed on a screen in the background in this illustration photo taken in Poland. Jakub Porzycki | NurPhoto | Getty Images Check out the companies making headlines in midday trading. Moderna — Moderna...
Fed to start tapering bond purchases later this month as it begins pulling back on pandemic aid
The Federal Reserve announced Wednesday it soon will begin reducing the pace of its monthly bond purchases, the first step toward pulling back on the massive amount of help it had been providing markets and the economy. Tapering of bond...
Stock futures are flat after Fed comments lift major averages to new highs
U.S. stock index futures were steady during overnight trading on Wednesday after the major averages closed at records following commentary from the Federal Reserve. The central bank said it will begin to slow its bond-buying program, signaling that the economy...
The Fed holds rates near zero yet some borrowing costs are already on the rise
Even though the Federal Reserve didn’t raise its benchmark rate Wednesday, the days of low rates are clearly numbered. Reports of hotter-than-anticipated inflation have paved the way for the central bank to unwind last year’s bond buying. While the Fed...
Companies add 571,000 jobs in October thanks to a big boost in hospitality hires, ADP says
A company advertises a help wanted sign on April 09, 2021 in Pawtucket, Rhode Island. Spencer Platt | Getty Images Private sector job creation popped higher in October thanks to a burst in hiring in the hospitality sector, payroll processing...