News
Is it a problem if the Fed speaks too much?
1+ hour, 18+ min ago (702+ words) Washington (CNN) " The Federal Reserve is yapping too much about the economy, according to Kevin Warsh, the US central bank's incoming leader. During his confirmation hearing last month, Warsh argued that Fed officials "speak quite frequently" and stressed that "truth-seeking…...
Higher gas prices sent wholesale inflation soaring last month, signaling more pain ahead for consumers
3+ day, 21+ hour ago (222+ words) ABC17 NEWS By Elisabeth Buchwald, CNN (CNN) " The war with Iran is squeezing US businesses at a rate not seen in nearly four years, and it's likely to cause them to raise prices for consumers even more. The Producer Price Index,…...
April hiring beat expectations, but economists warn the labor market is "frozen
1+ week, 2+ day ago (1187+ words) (CNN) " The US economy added a stronger-than-expected 115, 000 jobs last month and the unemployment rate stayed at 4. 3%, an indication of resilience at a time when war and high gas prices loom large. April's employment gains mark an expected retreat from March,…...
Consumer sentiment declines to another new record low as Americans fret over Iran war
1+ week, 1+ day ago (558+ words) Washington (CNN) " Consumer sentiment continued to decline this month, reaching a fresh record low as the war in Iran drags on, keeping energy prices elevated. The University of Michigan's latest consumer survey, released Friday, showed sentiment fell early this month…...
Key takeaways from Powell's last meeting as Fed chair
2+ week, 3+ day ago (843+ words) Washington (CNN) " The Federal Reserve on Wednesday kept interest rates unchanged for a third consecutive meeting, with some key policymakers signaling concern over still-elevated energy prices due to the US-Israeli war with Iran. Fed officials kept the benchmark lending rate…...
Will Jerome Powell stick around at the Fed? Here's what insiders told us
2+ week, 4+ day ago (1016+ words) Washington (CNN) " Federal Reserve Chair Jerome Powell is no stranger to tough decisions, but now he faces one of his toughest and most personal calls yet: Leave the stage or stick around in a supporting role once his replacement takes…...
Thom Tillis agrees to move forward with Kevin Warsh's Fed nomination
2+ week, 6+ day ago (214+ words) Thom Tillis agrees to move forward with Fed nomination'ABC17 NEWS By Auzinea Bacon, CNN (CNN) " Republican Senator Thom Tillis, who sits on the banking committee that approves Federal Reserve nominees, said Sunday that he will support Kevin Warsh's appointment as…...
Consumer sentiment rebounds slightly after hitting lowest level on record
3+ week, 1+ day ago (247+ words) (CNN) " Americans still feel lousy about the economy and worry that the US-Israeli war with Iran will continue to push up prices. The University of Michigan's final consumer sentiment reading for April measured 49. 8, a slight improvement from the preliminary report…...
Venezuela was promised an economic revival. But three months of minimum wage doesn't add up to a single US dollar
3+ week, 2+ day ago (1064+ words) By CNN Staff, CNN Caracas (CNN) " It is payday Friday, and a popular shopping mall located in eastern Caracas is packed. But while the hallways look full and the display windows are brightly lit and well-stocked, many people enter and…...
Trump says he'll fire Powell next month if he stays in his role at the Fed
1+ mon, 1+ day ago (510+ words) By David Goldman, Morgan Leason, CNN (CNN) " President Donald Trump said he will fire Federal Reserve Chair Jerome Powell if he does not step aside when his term expires next month. "Then I'll have to fire him," Trump told Fox…...