Economy

Jamie Dimon, CEO of JP Morgan Chase, speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019. Adam Galica | CNBC Jamie Dimon is bullish on the U.S. economy – at least for the next few years. Dimon, the long-serving JPMorgan Chase CEO and chairman, sees strong growth ahead for the world’s biggest

The Inn of Rosslyn, which is permanently closed due to pressure from the Covid-19 pandemic, on Feb. 5, 2021 in Arlington, Virginia. Liu Jie/Xinhua via Getty Images Nearly a quarter of all unemployed workers in the U.S. have been out of work for at least a year, a stretch of joblessness dating to the early

Loretta Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland. David Paul Morris | Bloomberg | Getty Images March’s strong job gains weren’t enough to convince Cleveland Federal Reserve President Loretta Mester that it’s time to change monetary policy. The central bank official told CNBC on Monday that she welcomed news

President Joe Biden talks to reporters on the South Lawn of the White House, in Washington, U.S., March 14, 2021. Cheriss May | Reuters President Joe Biden said Monday that he is not worried that a plan to increase corporate America’s tax bill would dampen the U.S. economy as it emerges from the Covid-19 pandemic.

An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Home price gains are accelerating at an alarming pace, fueled by Covid pandemic-related inflation, which some claim is not getting enough attention from the Federal Reserve. Home prices nationally

Waiter Boris Macquin serves customers behind plexiglass outside at Figaro Bistro on the first day Los Angeles County allows indoor seating since the coronavirus pandemic on March 15, 2021 in Los Angeles, California. Gina Ferazzi | Los Angeles Times | Getty Images Private payrolls in March expanded at the fastest pace since September as anticipation

An operator stacks heavy gauge steel brace used for industrial workbench leg at Tennsco’s factory in Dickson, Tennessee, U.S. February 17, 2021. Tennsco | via Reuters March brought the strongest manufacturing growth in more than 37 years, and with it increasing indications about inflation pressures in the months ahead. The Institute for Supply Management’s monthly

Job growth boomed in March at the fastest pace since last summer, as stronger economic growth and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs, the Labor Department reported Friday. Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%. Economists surveyed by Dow Jones

Executive Sous Chef Judith Cooper carves a turkey at Rosa Mexicano’s near Lincoln Center in New York City. Alexi Rosenfeld | Getty Images Americans are beginning to return to the workforce in big numbers, and that is likely to show up in the March employment report. Economists polled by Dow Jones expect to see 675,000

In this article @1YM21M First-time claims for jobless benefits were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday. The total compared with the 675,000 estimate from Dow Jones and was above last week’s downwardly revised 658,000. Zoom In IconArrows pointing outwards While the number

A sale pending sign is posted in front of a home for sale on July 17, 2014 in San Francisco, California. Justin Sullivan | Getty Images The U.S. housing market is suffering from its lowest supply in history, and that is taking an increasingly hard toll on sales. Pending home sales, a measure of signed

In the U.S., a consumer that represents 70% of the economy is seen as key to a continued recovery, and confidence surged in March to its highest level since the pandemic began. cihatatceken | iStock | Getty Images Covid cases and variants are rising, but in the race between the vaccines and virus, chief financial

Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, listens during a Senate Banking Committee confirmation hearing in Washington, D.C., on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images The Federal Reserve is not keeping monetary policy easy so the government can continue running up debts and deficits,

Dallas Federal Reserve President Robert Kaplan told CNBC on Tuesday he likely will favor an interest rate increase before the end of 2022. Though he doesn’t see inflation becoming a problem anytime soon, the central bank official said he expects the economy to progress enough to allow for the Fed to start pulling back on

Treasury Secretary Janet Yellen speaks during a virtual roundtable event with participants from local Black Chambers of Commerce on February 5, 2021 in Washington, DC. Drew Angerer | Getty Images Banks have improved their capital positions and should be allowed to continue to buy back their own shares, Treasury Secretary Janet Yellen said Wednesday. Regulators

Federal Reserve Chair Jerome Powell prepares for a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, D.C. on Dec. 2, 2020. Jim Lo Scalzo | Reuters Powerful fiscal help from Congress combined with accelerated vaccine distribution has allowed the

First-time claims for unemployment insurance unexpectedly fell sharply last week amid signs that hiring has picked up in the U.S. economy, the Labor Department reported Thursday. Claims totaled 684,000 for the week ended March 20, the first time the number has been below 700,000 during the Covid-19 era. The level was a substantial decline from

A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images Sales of newly built homes fell more than expected in February, as builders faced higher costs and persistent delays, and, consequently, raised