Powell Warns Elevated Inflation Justifies Faster Reduction of Bond Purchases
Federal Reserve Chairman Jerome Powell said the central bank would consider accelerating the reduction of its asset purchases at its...
Economic News
New Omicron Variant Exacerbates Inflation Uncertainty, Powell Says
The Fed chairman says the Covid-19 variant could intensify supply-chain disruptions and slow progress in the labor market. Source link
Eurozone Inflation Likely Hit Record High in November
Consumer-price inflation in the eurozone likely hit a record high in November, but many economists think that might mark a...
Black Friday Shopping Is Back, but the Doorbusters Aren’t
The Covid-19 pandemic didn’t just change consumer habits. It also prompted retailers to rethink Black Friday, one of the biggest...
The Great British Pub Has a Pandemic Hangover. For Some, It’s Last Call.
LIVERPOOL, England—Conor Foley’s pub, Kelly’s Dispensary, offers a bar-stool view of forces roiling the global economy. Having finally reopened after...
Fed Officials Debated Inflation Concerns, Taper Pace at November Meeting
Federal Reserve officials expressed greater concern at their meeting earlier this month about how long inflation would stay elevated and...
U.S. Jobless Claims Reach 52-Year Low
Weekly jobless claims fell sharply to the lowest level in 52 years, reflecting the labor market’s tightening as the economy...
U.S. Joins With China, Other Nations in Tapping Oil Reserves
WASHINGTON—The U.S. and five other countries including China will tap their national strategic petroleum reserves in an attempt to bring...
U.S. Home Sales on Track for Biggest Year in 15 Years
U.S. home sales rose in October as buyers continued to compete for a limited number of homes for sale. Existing-home...
Economy Week Ahead: Home Sales, Consumer Spending, Inflation
Reports on U.S. consumer spending and inflation highlight this holiday-shortened week. Outside of regular data, markets are also waiting for...
Biden Nears Endgame on Fed Chair Decision
President Biden faces one of the most important economic policy decisions of his presidency, which is expected this week, when...
Tax Plan Inflames Democratic Debate in Senate Over Biden’s $2 Trillion Spending Bill
WASHINGTON—House passage of Democrats’ $2 trillion education, healthcare and climate package has inflamed an intraparty debate about whether the bill...
At 1.9%, Nebraska Now Has the Lowest Unemployment Rate of Any State, Ever
Nebraska logged the lowest unemployment rate of any state on record in October, reflecting the acute labor shortages that have...
House Passes Roughly $2 Trillion Social Spending and Climate Bill
WASHINGTON—The House passed a roughly $2 trillion education, healthcare and climate package on Friday, as Democrats corralled their slim majority...
Electric-Vehicle Spat Looms Over Biden’s Meeting With Canadian, Mexican Leaders
President Biden’s summit with counterparts from Canada and Mexico at the White House brings him face-to-face with visitors who have...
U.S. Unemployment Claims Fall in Tight Job Market
Jobless claims hovered above pre-pandemic levels last week as employers avoid layoffs and many workers quit or remain sidelined in...
Federal Government Could Be Unable to Pay Bills as Soon as Dec. 15, Yellen Says
The U.S. government could run out of resources to meet the nation’s obligations as soon as Dec. 15, Treasury Secretary...
U.S. Shoppers Boosted Spending Last Month, Taking on Higher Prices
U.S. retail sales rose by 1.7% in October, a sign that consumers are willing to spend more headed into the...
Biden, Xi Open Talks on Friendly Note, With Tough Topics Ahead
WASHINGTON—President Biden and Chinese President Xi Jinping opened a virtual meeting Monday night with words designed to cool tensions between...
Federal Deficit Narrowed in October, Ahead of Debt-Ceiling Debate
The federal government ran a $165 billion deficit during October, a smaller gap when compared with a year earlier, as...
