Travelers at LaGuardia Airport in New York on June 30, 2022. Leslie Josephs | CNBC Airfare fell 6.4% in January from a year earlier, the Labor Department said in its monthly consumer price index on Tuesday. It might not last too long. January is typically a slower month for travel as customers take fewer trips … Read more
Director of the National Economic Council Lael Brainard speaks during the daily press briefing at the White House January 11, 2024 in Washington, DC. Brainard fielded a range of questions about the economy and inflation. Drew Angerer | Getty Images National Economic Council Director Lael Brainard on Tuesday blamed higher consumer prices on “shrinkflation,” doubling … Read more
The direct-to-consumer boom is coming to an end. A once-bustling group of companies, backed by billions in venture capital funding, saw a record year for IPOs in 2021. Now, three years later, most of those direct-to-consumer, or DTC, companies still struggle with profitability. “It’s that profitability angle now that demarcates the winners in DTC from … Read more
Phillip Swagel Danny Moloshok | Reuters WASHINGTON — The U.S. budget deficit will grow by an estimated $1 trillion over the next 10 years, the nonpartisan Congressional Budget Office projected in a new report Wednesday. Part of that growth will be driven by unexpectedly high costs related to President Joe Biden’s signature policy goal: Reorienting … Read more
Rafael Henrique | Lightrocket | Getty Images Enphase Energy sees light at the end of the tunnel this year for the solar market after the industry has taken a beating from high interest rates. High rates have depressed demand for residential solar installations in 2023, leaving companies like Enphase saddled with too much inventory. Enphase … Read more
Elevated shipping costs as a result of ongoing tensions in the Red Sea could impede the global fight against inflation, the Organisation for Economic Co-operation and Development said Monday. The Paris-based group estimates that the recent 100% rise in seaborne freight rates could increase import price inflation across its 38 member countries by nearly 5 … Read more
A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 31, 2024. Brendan McDermid | Reuters The U.S. stock market is in a “very dangerous” spot as persistently strong jobs numbers and wage growth suggest the Federal Reserve’s … Read more
An aerial view of aircraft carriers of the United States Navy USS Gerald R. Ford and USS Dwight D. Eisenhower together in eastern Mediterranean on November 03, 2023. Anadolu | Anadolu | Getty Images There are growing calls from some political leaders on Capitol Hill to justify U.S. Navy protection of “foreign flag” vessels from … Read more
The 10-year U.S. Treasury yield topped 4% on Friday after a surprisingly strong jobs report that showed continued strength in the economy, but raised questions on when the Federal Reserve can cut interest rates. The yield on the 10-year Treasury shot up by 16 basis points to 4.02%. The 2-year Treasury yield climbed 17.4 basis … Read more
A networking and hiring event for professionals of color in Minneapolis, Minnesota. Michael Siluk | Getty Images Black men lost ground in the workforce last month, marking a continuation of the disparities that have permeated the U.S. labor market. Black males who were at least 20 years old saw an unemployment rate of 5.3% in … Read more
