Economy
Paul Tudor Jones says inflation could be worse than feared, biggest threat to markets and society
Billionaire hedge fund manager Paul Tudor Jones believes inflation is here to stay, posing a major threat to the markets and the economy.
Homebuilder sentiment bounces back despite ongoing supply chain problems
Homebuilder confidence rose in October thanks to strong buyer demand.
Mortgage originations will drop 33% in 2022 as interest rates rise, according to industry forecast
The average rate on the popular 30-year fixed loan will rise to 4%, a full percentage point higher than it is now, MBA economists say.
Supply chain chaos is already hitting global growth. And it's about to get worse
The Covid-19 pandemic has left one very destructive issue in its wake: disruption to global supply chains.
Investors expect the Fed and European Central Bank will keep rates low for too long, survey says
A substantial portion of investors expect the U.S. Federal Reserve and the European Central Bank to keep monetary policy slightly too loose for too long, according to a Deutsche Bank survey.
Fed's Barkin backs tapering plans and expresses concern about inflation
Richmond Fed President Thomas Barkin said he's on board with reducing the amount of economic help the central bank is providing.
Retail sales unexpectedly rise in September as consumers keep spending
Consumers spent at a much faster pace than expected in September, defying expectations for a pullback amid pervasive supply chain problems.
Jobless claims fall below 300,000 for the first time since the pandemic began
Initial claims for unemployment insurance for the week ended Oct. 9 were expected to total 318,000.
Fed says it could begin 'gradual tapering process' by mid-November
The Federal Open Market Committee on Wednesday released minutes from its Sept. 21-22 policy meeting.
Consumer prices rise more than expected as energy costs surge
Consumer prices increased slightly more than expected in September as food and energy price rises offset declines in used cars, the Labor Department said.
Weekly mortgage demand stalls, as rates jump to highest level since June
Mortgage rates continued their trudge higher last week, leaving most homeowners with little to no incentive to refinance.
A record 4.3 million workers quit their jobs in August, led by food and retail industries
Job openings declined sharply in August while hiring also fell and the level of workers quitting their jobs hit the highest level since at least late 2000.
Strong wage gains cast doubt that inflation is going away anytime soon
September's wage gains provided more fuel to the argument that the current pace of inflation could run longer than many economists anticipate.
September's jobs creation comes up short with gain of just 194,000
Nonfarm payrolls were expected to increase by 500,000 in September, according to economists surveyed by Dow Jones.
Fed Governor Lael Brainard is in line for a key banking position. Here's what it could mean for Wall Street
Fed Governor Lael Brainard should figure prominently as President Joe Biden weighs who will chair the central bank and who will specifically supervise banks.
Jobless claims post sharp decline to 326,000, better than expectations
Initial filings for jobless benefits were expected to total 345,000 for the week ended Oct. 2, according to economists surveyed by Dow Jones.
Companies hired at a brisk pace in September despite fears about Covid and the economy, ADP says
Private jobs rose by 568,000 for the month, better than the Dow Jones estimate of 425,000 and ahead of the downwardly revised 340,000 in August.
As mortgage rates shoot even higher, refinance demand plummets 10%
A sharp jump in mortgage interest rates over the past few weeks is taking its toll on mortgage demand.
Fed’s Evans sees inflation falling below central bank's 2% target after current rise subsides
The current spate of inflation won't last and ultimately will fall below the Federal Reserve's target, Chicago Fed President Charles Evans said.
Yellen sees inflation staying higher for the next several months
Treasury Secretary Janet Yellen cautioned Tuesday that inflationary pressures hitting the U.S. economy could last for a while.
U.S. faces a recession if Congress doesn't address the debt limit within 2 weeks, Yellen says
Treasury Secretary Janet Yellen believes the economy would fall into a recession if Congress fails to raise the debt ceiling before a default on the U.S. debt.
Stocks are at a 70-year high as a share of household financial wealth
Equity holdings now make up about half of the $109.2 trillion of financial assets that households own.
Key inflation gauge watched by the Federal Reserve hits another 30-year high
Inflation ran at a fresh 30-year high in August as supply chain disruptions and extraordinarily high demand fueled ongoing price pressures.
Yellen lends support for effort to remove the debt ceiling altogether
Treasury Secretary Janet Yellen said Thursday she would just as soon see the power over debt limits taken away from Congress.
Mortgage demand falls as rates rise to highest level since July
Higher rates caused mortgage demand to drop for refinances and home purchases.
Sen. Warren calls Fed Chair Powell a 'dangerous man,' says she will oppose his renomination
Sen. Elizabeth Warren charged that Fed Chairman Jerome Powell has led an effort to weaken the nation's banking system, and she will oppose his renomination.
Watch Powell and Yellen speak live to Senate panel on Covid relief efforts
Fed Chair Powell to warn Congress that inflation pressures could last longer than expected
Federal Reserve Chairman Jerome Powell cautioned Washington legislators that the causes of the recent rise in inflation may last longer than anticipated.
Fed officials say they see a pullback in their economic support even with inflation cooling
At least three Federal Reserve officials said Monday they are ready to pull back on stimulus even though they don't see a threat from inflation.
Dallas Fed President Kaplan to retire early on Oct. 8, citing trading disclosure 'distraction'
Dallas Fed President Kaplan became the second regional central bank leader to resign Monday, saying he was stepping down after a controversy over stock trades.
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