Nonfarm payroll growth revised down by 818,000, Labor Department says
The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday.
Jeff Cox in asian news
The bond market is about to do something noteworthy while everyone's distracted by Nvidia
While traders were focusing on Nvidia's results Thursday, something big was happening in the bond market. The inverted spread between the 2- and 10-year Treasury yields, considered a classic recession indicator, is nearly back to normal.
Fed survey shows lows in employment, worries about finding work and dissatisfaction with pay
In another sign of cracks forming in the U.S. labor market, a New York Federal Reserve survey Monday showed a slide in people reporting they are employed, a surge in those looking for work and growing dissatisfaction with pay.
Consumer spending jumped in July as retail sales were up 1%, much better than expected
Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday.
Annual inflation rate slows to 2.9% in July, lowest since 2021
Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report Wednesday that is likely to keep an interest rate cut on the table in September.
Wholesale inflation measure rose 0.1% in July, less than expected
A key measure of wholesale inflation rose less than expected in July, opening the door further for the Federal Reserve to start lowering interest rates.
Three-year inflation outlook hits record low in New York Fed consumer survey
Consumers grew more confident in July that inflation will be less of a problem in the coming years, according to a New York Federal Reserve report Monday that showed the three-year outlook at a new low.
Jeremy Siegel backs off on calls for the Fed to do an emergency interest rate cut
Wharton School Professor Jeremy Siegel no longer thinks it's vital for the Federal Reserve to implement an emergency interest rate reduction, but still wants policymakers to cut quickly and aggressively.