Jerome Powell, chairman of the US Federal Reserve, during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Tuesday, July 9, 2024. Bloomberg | Bloomberg | Getty Images Markets now firmly expect a September interest rate cut in the U.S., but the Federal Reserve has a strong reason to hold … Read more
President Joe Biden and former President Donald Trump participate in the CNN Presidential Debate on June 27, 2024 in Atlanta. Justin Sullivan | Getty Images News | Getty Images Inflation decelerated again in June, bringing further relief to consumers’ wallets. The consumer price index rose 3% in June 2024 from June 2023, down from a … Read more
Traders work on the floor at the New York Stock Exchange on Oct. 27, 2023. Brendan Mcdermid | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You … Read more
Traders work on the floor of the New York Stock Exchange. NYSE This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know … Read more
President Joe Biden on Thursday trumpeted the latest inflation report in the opening remarks of his highly anticipated solo press conference in Washington. “Just this morning, we had a great economic report showing inflation is down,” he said. “Overall, prices fell last month. Core inflation is the lowest it’s been in three years.” The consumer … Read more
With hundreds of billions of dollars in new federal infrastructure spending under the Bipartisan Infrastructure Law, the CHIPS and Science Act and the Inflation Reduction Act, companies are eager to cash in. And states are scrambling for their piece of the pie. “We have funding that goes to projects that come from every state, city, … Read more
Descrease article font size Increase article font size Justin Trudeau on Thursday reaffirmed his “full confidence” in Chrystia Freeland amid reports of tension between the prime minister’s office and the finance minister. Speaking at the close of the North Atlantic Treaty Organization summit in Washington, D.C., Trudeau was asked about the possibility of replacing Freeland … Read more
Not since the New Deal has the U.S. government poured this kind of money into rebuilding America’s infrastructure. Companies and states are clamoring for their piece of that federal jackpot. That helps explain why infrastructure is the major topic of conversation in economic development circles this year, and why it also looms large in CNBC’s … Read more
Nova Scotia Premier Tim Houston said he nearly “fell off his chair” after learning that Halifax’s council was planning to establish designated homeless encampments in historic parks such as the Halifax Common and Point Pleasant Park. During a media availability following a cabinet meeting on Thursday, Houston said his provincial government had previously proposed about … Read more
David Paul Morris/Bloomberg via Getty Images Inflation fell further in June as lower gasoline prices combined with other easing price pressures to bring relief for consumers’ wallets. The consumer price index, a key inflation gauge, rose 3% in June from a year ago, down from 3.3% in May, the U.S. Labor Department reported Thursday. The … Read more
