Private Sector Added 324,000 Jobs in July, Well Above Expectations, ADP Says
Private sector companies added far more jobs than expected in July, pushed higher by a boom in leisure and hospitality jobs, payroll processing firm ADP reported on Wednesday, August 2.
Morgan Stanley Raises Economic Growth Forecast, Citing Biden Infrastructure ‘Boom’
Morgan Stanley raised its economic growth forecast up this week, citing a "boom in large-scale infrastructure" driven by President Biden’s Infrastructure bill, according to reports.
Will Cooling Inflation Help Sell Bidenomics?
U.S. annual inflation slowed to 3% last month, according to the latest Consumer Price Index released Wednesday by the Bureau of Labor Statistics.
U.S. Inflation Unlikely to Fall to the Fed's 2% Target until at Least 2025, According to Jerome Powell
The Fed chairman's remarks on Friday suggested the central bank's fight against inflation is far from over – raising the possibility that policymakers will keep raising interest rates until price pressures cool further.
Federal Reserve Holds Interest Rates Steady, Forecasts Two More Rate Hikes This Year
The Federal Reserve held interest rates steady on Wednesday, June 14, but FOMC officials signaled they are prepared to raise rates again this year in due course to keep the fight against stubborn inflation.
U.S. Jobless Claims Tick Up, Still Show Strong Labor Demand, but Mostly for Low Skill Labor
Applications for U.S. unemployment benefits rose slightly last week to a level that’s still consistent with resilient demand for labor.
Fed Minutes Show Powell Wants To Keep Rate Hike Options Open, But Path Remains Uncertain
Federal Reserve officials stressed the need to keep their options open on future rate hikes, minutes from the central bank's May policy meeting indicated Wednesday, but hinted that if the economy performs as expected, further increases might not be necessary.
Marketmind: Get Ready for the Debt Ceiling Rally
U.S. President Biden delivers remarks on debt ceiling talks and “preventing a first-ever government default” at the White House in Washington.
Former U.S. Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling
Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally.
Federal Reserve Raises Fed Funds Rate by 25 Basis Points, Signals Possible Pause
The U.S. Federal Reserve's Federal Open Market Committee (FOMC) continued its year-plus slew of rate hikes on Wednesday, May 3, lifting the fed funds rate by 25 basis points to a targeted range of 5%-5.25%.
Charlie Munger Says Banks ‘Full of’ Bad Loans on Commercial Property: Report
‘It’s not nearly as bad as it was in 2008. But trouble happens to banking, just like trouble happens everywhere else.
Credit Crunch is coming for the U.S. that'll Tip the Economy into Recession, 'Dr. Doom' Economist Nouriel Roubini Warns
The U.S. is heading for a credit crunch that'll tip the economy into recession, according to “Dr Doom” economist Nouriel Roubini.
Inflation and Bank Earnings in Focus This Week
First quarter earnings season will get underway this week with big banks reporting results on Friday, April 14, as investors turn their attention slightly away from Fed policy and towards the state of play in corporate America.
JPMorgan Says U.S. is Probably Headed for Recession as Economic ‘Engines about to Turn Off’.
A series of banking crises this month headlined by the failure of Silicon Valley Bank has forced analysts from multiple banks, including JPMorgan Chase, to rewrite their recession forecasts from scratch,