Economist Claudia Sahm on CNBC’s The Exchange. CNBC The Federal Reserve is risking tipping the economy into contraction by not cutting interest rates now, according to the author of a time-tested rule for when recessions happen. Economist Claudia Sahm has shown that when the unemployment rate’s three-month average is half a percentage point higher than … Read more
Executive Vice President of the European Commission for A Europe Fit for the Digital Age Margrethe Vestager talks to media in the Berlaymont, the EU Commission headquarter on May 23, 2024 in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images The European Union may be no economic match for its U.S. and … Read more
A worker assists with checkout at a Costco store in Teterboro, New Jersey, on Feb. 28, 2024. Stephanie Keith | Bloomberg | Getty Images Retail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation. Sales rose just 0.1% on the month, one-tenth of a percentage point … Read more
Dried cocoa beans at the Somos Cacao farm and production facility in Ragonvalia, Norte de Santader department, Colombia, on Friday, March 22, 2024. Ferley Ospina | Bloomberg | Getty Images There’s pricing pressure taking hold of a specific corner of global agriculture — and it’s bittersweet. Prices of cocoa have more than tripled over the … Read more
Taylor Swift performs on stage during during “Taylor Swift | The Eras Tour” at Anfield on June 13, 2024 in Liverpool, England. Gareth Cattermole/tas24 | Getty Images Entertainment | Getty Images LONDON — Taylor Swift’s record-shattering Eras Tour is continuing to supercharge consumer spending as it enters its U.K. leg, suggesting that the Bank of … Read more
A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back. The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That reversed … Read more
An electric Ford truck is displayed during the Electrify Expo D.C. in Washington, D.C., on July 23, 2023. Nathan Howard | Getty Images Ford Motor is ending a controversial electric vehicle dealership program that initially asked store owners to invest upward of $1 million to sell EVs. The “EV-certified” program was announced in September 2022 … Read more
The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The CPI, a broad inflation gauge that measures a basket of goods and services costs across the U.S. economy, held flat on the month though it increased 3.3% from a … Read more
People with umbrellas on London Bridge. Karl Hendon | Moment | Getty Images LONDON — U.K. economic growth ground to a halt in April, according to flash figures published on Wednesday, stalling the muted rebound from last year’s recession mere weeks ahead of a national election. Economists polled by Reuters had expected growth to flatten, … Read more
Joe Biden and Donald Trump 2024. Brendan Smialowski | Jon Cherry | Getty Images Presumptive nominees President Joe Biden and former President Donald Trump have both pledged to extend expiring tax breaks for most Americans — but questions remain on how to pay for it. Trillions in tax breaks enacted by Trump via the Tax Cuts and Jobs Act … Read more
