Nobel Prize in Economics Winners Include Former Fed Chair Ben Bernanke
The Nobel Prize in Economic Sciences was awarded Monday to former Federal Reserve chief Ben Bernanke and two other U.S....
Economic News
World’s Emergency-Lending Capacity Is Getting Stretched as Crises Deepen
WASHINGTON—Rapidly rising interest rates are squeezing the flow of private capital to the world’s poorest countries. The problem is that...
Fed’s Evans Says Rates Will Need to Remain at Higher Levels
The Federal Reserve will need to hold interest rates high enough to slow the economy after it lifts them through...
Fed’s Inflation Fight Has Some Economists Fearing an Unnecessarily Deep Downturn
Some economists fear the Federal Reserve—humbled after waiting too long to withdraw its support of a booming economy last year—is...
September Jobs Report Shows Payrolls Grew by 263,000, Labor Market Cooled Some
The unemployment rate fell to 3.5% from 3.7% in August, the Labor Department said Friday, matching a half-century low that...
Samsung Expects Earnings to Slump as Consumer Spending Slips
SEOUL— Samsung Electronics Co. is expected to see its third-quarter profit slump as the company’s mainstay memory-chip and smartphone businesses...
U.S. Jobless Claims Rose Last Week but Remain Historically Low
New applications for unemployment benefits rose last week in the latest sign of a cooling labor market, although they remained...
Endowment Tax on Wealthiest Universities Netted a Fraction of Predictions in 2021
Wealthy colleges argued for years that a federal tax on their endowment income would limit their ability to provide financial...
OPEC+ to Weigh Production Cut to Bolster Oil Prices
OPEC+ is set to consider Wednesday its most drastic reduction of production since the pandemic began in order to help...
Exxon CEO Warns Biden Administration Against Limiting Fuel Exports
Exxon Mobil Corp. is pushing back against reductions of U.S. fuel exports urged by the Biden administration in August, arguing...
Fed’s Lael Brainard Warns on Inflation, Financial Stability Risks
A senior Federal Reserve official warned of the risks that additional inflationary shocks could lead the central bank to raise...
Mortgage Rates Rise to 6.7%, Highest Since 2007
Mortgage rates rose to their highest level in more than 15 years, a new high since the 2008-09 financial crisis...
Developing Countries Face Stiff Economic Headwinds, World Bank Chief Says
WASHINGTON—The head of the World Bank warned that developing nations face an extremely challenging near-term outlook, as the sharp slowdown...
U.K. Market Woes Threaten Economic and Political Crisis
The U.K. continued to try to stave off a financial and economic crisis on Wednesday as the country’s central bank...
British Pound, Bonds Roiled as Tax-Cut Plans Spook Investors
LONDON—The U.K.’s beleaguered pound hit its lowest-ever level against the U.S. dollar before recovering slightly Monday, as investors worried about...
Central Banks May Stoke Risks by Raising Interest Rates Together
Central banks around the world are raising their key interest rates in the most widespread tightening of monetary policy on...
Economy Week Ahead: Housing Market and Consumer Spending in Focus
Tuesday The Commerce Department releases August figures on new orders, shipments, unfilled orders and inventories of products meant to last...
War, Inflation Knock World Economy Off Balance
The global economy is sputtering and financial markets are flashing red, reflecting a sense on Wall Street that a sharper...
U.K.’s Sweeping Tax Cuts Send Pound Tumbling, Yields Higher
LONDON—The British government unveiled the biggest tax cuts since the early 1970s in a high-stakes bet to jolt the U.K.’s...
World’s Central Banks Race to Raise Rates After Fed Increase
LONDON—Central banks around the world moved Thursday to combat the effects of a soaring dollar and rising inflation, joining the...
