US home prices slowed in August at the fastest pace on record
Mortgage rates that have doubled over the past year are sapping demand from the housing market, which saw price growth decelerate at the fastest pace on record in August.
JPMorgan president warns recession may be the price to pay to crush inflation
The Federal Reserve may have no choice but to trigger a recession in order to get inflation under control, according to JPMorgan President Daniel Pinto.
US already in recession, or will likely be next year, most NABE economists say
A new survey shows that a majority of economists either think the U.S. economy has entered a recession, or will next year as the Federal Reserve raises rates.
Unrelenting inflation forces more Americans to consider getting a second job
Painfully high inflation is forcing more Americans to consider working multiple jobs as the cost of basic necessities like food and rent surges higher.
Fed says inflation concerns remain, will continue raising rates
The Federal Reserve's September meeting minutes revealed that it's prepared to continue raising interest rates in the coming months but has its eye on the state of the current economy.
Elon Musk accuses Fed of 'looking in the rearview mirror' with rate hikes
Tesla CEO Elon Musk said Wednesday the Fed is "looking in the rearview mirror" with its interest rate hikes as the economy is in the midst of "deflation."
Philadelphia Fed pres: Inflation caused by 'perfect storm' including 'policy decisions'
Philadelphia Federal Reserve Bank president Patrick Harker said that high inflation in the U.S. was caused by several factors including U.S. policy decisions.
Existing home sales tumble to a 10-year low in September as mortgage rates skyrocket
Sales of previously owned houses fell in September for the eighth consecutive month as rising interest rates pushed potential homebuyers out of the market.
Jobless claims unexpectedly drop to 214,000
Applications for unemployment insurance fell again last week, indicating that employers are still avoiding layoffs despite rapidly rising interest rates.
US recession odds rise to 100% as inflation squeezes the economy
A U.S. recession is almost certain in the next 12 months, according to a new analytical model, a blow to President Biden ahead of the midterm elections.
Jeff Bezos becomes latest exec to warn about looming US recession: 'Batten down the hatches'
The U.S. economy could be headed for a recession, according to Amazon founder Jeff Bezos, who warned on Tuesday that it's time to "batten down the hatches."
Housing starts tumble in September as rising mortgages cool demand
Rising interest rates are starting to cool the housing market, with new U.S. home construction plunging in September after unexpectedly rising the previous month.
Fed barrels toward another 75 basis point rate hike as high inflation persists
As elevated inflation persists, Federal Reserve officials are likely to approve another 75 basis point interest rate hike as they try to cool the U.S. economy.
Goldman Sachs CEO sees 'good chance' of US recession in 2023
The U.S. economy is likely headed for a recession, according to Goldman Sachs CEO David Solomon, who became the latest bank exec to warn of a looming downturn.
Homebuilder sentiment plunges again in October as higher mortgage rates take their toll
Builder sentiment in the market for single-family homes tumbled in October to the lowest level in two years, indicating the housing market is officially in a recession.
Atlanta Federal Reserve’s Bostic reveals inaccuracies in financial disclosures
Atlanta Fed President Raphael Bostic is the latest policymaker to get tripped up over personal investments.
Yellen says inflation fight remains top priority for Biden after hot September report
Wrestling the hottest inflation in decades under control is still the No. 1 focus of the Biden administration, according to Treasury Secretary Janet Yellen.
Stock market to see more pain before reaching low, BofA warns
Bank of America strategist warns the U.S. stock market is likely to see further losses as the Federal Reserve continues its fight against high inflation.
Retail sales stagnant in September as high inflation eats into spending
The Commerce Department released new retail data on Friday morning, revealing how consumers have responded to rapid and stubbornly high inflation in September.
September inflation breakdown: Where are prices rising the fastest?
Inflation rose faster than expected in September, squeezing Americans in the form of higher prices for basic necessities like groceries, rent and electricity.