Watch Fed Chair Powell speak live to Senate banking panel on the economy and policy
[The stream is slated to start at 9:30 am ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell appears Thursday before the Senate Committee on Banking, Housing and...
Jobless claims hit new pandemic low, while New York manufacturing notches record high
Initial claims for unemployment insurance fell to a new pandemic-era low last week, the Labor Department reported Thursday. First-time filings for benefits totaled 360,000, in line with Dow Jones estimates and the best number since March 14, 2020. The total...
Digital bank Revolut valued at $33 billion in funding round led by SoftBank and Tiger Global
Nikolay Storonsky, founder and CEO of Revolut, on stage at the 2019 Web Summit technology conference in Lisbon, Portugal. Harry Murphy | Sportsfile for Web Summit via Getty Images LONDON — British fintech firm Revolut said Thursday it had raised...
Powell says the Fed is still a ways off from altering policy, expects inflation to moderate
Federal Reserve Chairman Jerome Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy. In remarks prepared for the House Financial Services Committee, the central bank chief noted improvements but...
Covid scams cost Americans nearly $500 million — and criminals are now eyeing the child tax credit
Visoot Uthairam | Moment | Getty Images Americans have lost nearly $500 million to Covid-related scams since the start of the pandemic, according to Federal Trade Commission data. And the agency is warning that con artists will likely try to...
Wholesale prices rose 7.3% in June from a year ago for a record surge
Wholesale prices for June rose more than expected in another sign that inflation is moving at a faster pace than markets had anticipated. The producer price index, which measures what companies get for the goods they produce, increased 1% from...
‘Summer of indigestion’ will produce big buying opportunities, long-term market bull Tony Dwyer predicts
Investors may want to keep the antacid nearby. Long-term market bull Tony Dwyer sees near-term turbulence in connection with his “summer of indigestion” call. So, he’s encouraging investors to resist making any big moves right now. “We’ve had one heck...
Inflation just jumped the most in years, yet markets are largely ignoring it. Here’s why
Consumer prices just posted their largest one-month jump in nearly 13 years, a fact that might tempt some to conclude that a white-hot U.S. economy is on the brink of runaway inflation. But a spike in the June 2021 consumer...
Inflation climbs higher than expected in June as price index rises 5.4%
Inflation surged in June at its fastest pace in nearly 13 years amid a burst in used vehicle costs and price increases in food and energy, the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year...
Fed’s Mary Daly says tapering of bond purchases may start this year
San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. Ann Saphir | Reuters San Francisco Federal Reserve President Mary Daly told CNBC on Tuesday that a strong economic...