The Federal Reserve’s preferred measure of inflation continued to cool gradually overall in June, although a “core” measure of inflation remained stable. That’s probably enough of an indication of progress to keep the central bank on track for a rate cut later this year, but not enough to fuel speculation that it could cut interest…
In a 2019 presidential debate, Kamala Harris emphasized, “I am not a protectionist Democrat.” But Ms Harris is not a free trade democrat either. She said she opposed the 1992 North American Free Trade Agreement, which President Biden voted for during his Senate term, as well as the Trans-Pacific Partnership, an agreement supported by the…
A key indicator for the Federal Reserve showed inflation eased slightly in June from a year earlier, helping pave the way for a widely expected interest rate cut in September. The private consumption expenditure price index rose 0.1% month-on-month, 2.5% higher than a year ago, in line with Dow Jones estimates, the Commerce Department reported…
Jessica Cuevas loved her job as a high school guidance counselor. But after giving birth to a son in January 2021, she switched to a remote corporate job at a grocery chain because it gave her more flexibility and saved commuting time. After the birth of her second son two years later, she also gave…
The next few years are likely to be solid for the US economy. Inflation is returning to normal. While this is happening, the Federal Reserve is preparing to cut interest rates. Huge infrastructure spending has taken some time to ramp up under the Biden administration, but both small and large projects are expected to break…
Economic growth accelerated more than expected in the spring as cooling inflation and a strong labor market allowed consumers to continue spending even as high interest rates weighed on their finances. Inflation-adjusted gross domestic product rose 2.8 percent annually in the second quarter, the Commerce Department said Thursday. That was faster than the 1.4 percent…
Gross domestic product was expected to rise 2.1% on an annual basis in the second quarter. Source link 2024-07-25 15:45:07 www.cnbc.com
Shortly after the Biden administration took office in 2021, Vice President Kamala Harris began calling the CEOs of major banks, including JPMorgan Chase and Bank of America. The federal government gave banks hundreds of billions of dollars to lend to small businesses to keep them afloat during the pandemic recession. Ms. Harris told executives they…
Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York, USA, on Thursday, May 16, 2024. Alex Kent | Bloomberg | Getty Images Wall Street’s favorite recession signal started flashing red in 2022 and hasn’t stopped – and has been wrong every step of the way so far. The yield…
Small banks feel misunderstood. They see themselves as an integral part of neighborhoods across the country: supporters of local dry cleaners, dentists and sandwich shops. Investors fear that these banks could trigger a crisis. The pride and fear reflect both the fact that community banks are big lenders in the commercial real estate market, which…
