Fed Vice Chair Clarida anticipates rate hikes starting in 2023, sees upside risks to inflation
Richard Clarida Scott Mlyn | CNBC Federal Reserve Vice Chairman Richard Clarida said Wednesday the central bank is likely to hit its economic targets by the end of next year and start raising interest rates again in 2023. While he...
PNC’s top investor predicts retail mania’s downfall, delivers correction warning
PNC Financial’s Amanda Agati is predicting the retail frenzy’s downfall. When the government starts eliminating stimulus policies intended to help the nation weather the pandemic, the firm’s chief investment officer believes retail investors will hesitate to put new money to...
Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate
A ‘We’re Hiring!’ sign is displayed at a Starbucks on Hollywood Boulevard on June 23, 2021 in Los Angeles, California. Mario Tama | Getty Images Job creation at private companies tumbled in July as fears mounted over the spreading coronavirus...
Yellen says enacting Biden’s agenda is key to keeping U.S. the ‘world’s pre-eminent economic power’
Janet Yellen, U.S. Treasury secretary, arrives at a Eurogroup meeting of European Union (EU) finance ministers in Brussels, Belgium. Bloomberg | Bloomberg | Getty Images Treasury Secretary Janet Yellen will warn on Wednesday that enacting President Joe Biden’s economic agenda...
‘Made in China’ products are running into new logistics problems
A ship leaves a container port in the evening in Lianyungang in east China’s Jiangsu province Thursday, July 22, 2021. Feature China | Barcroft Media | Getty Images BEIJING — Chinese companies wanting to go global are running into shipping...
Household debt jumps by the most in 14 years to nearly $15 trillion in the second quarter
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters Household debt rose by its highest dollar amount in 14 years during the...
Infrastructure bill pulls $31 billion from Covid disaster loan program
d3sign | Moment | Getty Images A Senate infrastructure measure unveiled this week would pull $31 billion from a Covid disaster-loan program for businesses. The Economic Injury Disaster Loan program was one of the mechanisms Congress used to help ailing...
Biden approval ratings on Covid and economy fall in new CNBC All-America survey
President Joe Biden held on to his overall approval rating in the latest CNBC All-America Economic Survey but showed weakness in two key areas as the public’s views on the economy and the outlook for the virus soured. In the...
Bearish trend signals stocks are vulnerable to a 10% to 15% correction
The market appears to be doing something that happens ahead of corrections. When the S&P 500, Nasdaq and the CBOE Volatility Index rise together, BTIG’s Julian Emanuel warns it’s often a precursor to a 10% to 15% pullback. “Whenever we’ve...
Fed Governor Waller sees reduction in bond purchases possibly starting in October
The Federal Reserve could begin slowing down its bond purchases as early as October under a scenario central bank Governor Christopher Waller set out to CNBC in a Monday interview. Should the August and September jobs report show growth in...
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