Category: Economy

November ISM Manufacturing and October construction spending

A subindex of prices paid fell to 60.7 from 71.6 in October, coming in well below estimates for a reading of 70. Gauges of new orders and employment rose. Separate...

Fed Chairman Powell now sees current interest rate level ‘just below’ neutral

Federal Reserve Chairman Jerome Powell said Wednesday he considers the central bank’s benchmark interest rate to be near a neutral level, an important distinction...

Southeast Asia could attract manufacturing

Maike Elan | Bloomberg | Getty Images Motorcyclists pass vendors selling food in a market at night in Ho Chi Minh City, Vietnam, on Wednesday, June 20, 2018. The trade...

50 percent chance of a US recession by 2020

Former Treasury Secretary Larry Summers has put the chances of a U.S. recession at 50 percent within the next two years. The economist told CNBC’s Joumanna...

Firms trying to fill jobs ‘should try paying more,’ Fed’s Kashkari says

Companies should try digging in their pockets if they’re looking to find workers for unfilled jobs, Minneapolis Fed President Neel Kashkari said Tuesday. With the...

US weekly jobless claims total 214,000, in line with expectations

New applications for U.S. unemployment fell slightly last week and the number of Americans receiving benefits remained at a 45-year low as strong labor market conditions...

European stress test 2018 results revealed

Daniel Roland | AFP | Getty Images Daniele Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, SSM, of the European Central Bank, ECB. Results of...

Alan Greenspan says Sweden may hold the answer to America’s looming entitlement crisis

With spending on entitlement programs a major talking point for both Democrats and Republicans ahead of midterm elections, former Federal Reserve Chairman Alan Greenspan...

‘We feel good about where the consumer is in the US’

The U.S. consumer is in good shape, Michele Buck, chief executive officer at The Hershey Company, said on Wednesday, becoming the second CEO in as many days to tell CNBC...

Bank of England’s Carney says UK system ready for ‘cliff-edge’ Brexit

The U.K.’s banking system is prepared to handle a much worse outcome from Brexit than is likely to happen, Bank of England Governor Mark Carney said Friday....