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Treasury Secretary Bessent says U.S. GDP could take a hit from the government shutdown
Treasury Secretary Scott Bessent told CNBC’s on Thursday that U.S. economic growth could be hurt by the government shutdown. “This isn’t the way to have a discussion, shutting down the government and lowering the GDP,” Bessent said during a “Squawk Box” interview. “We could see a hit to the GDP, a hit to growth and […]
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Private payrolls declined in September by 32,000 in key ADP report coming amid shutdown data blackout
Private payrolls saw their biggest decline in two-and-a-half years during September, a further sign of labor market weakening that compounds the data blackout accompanying the U.S. government shutdown. Companies shed a seasonally adjusted 32,000 jobs during the month, the biggest slide since March 2023, payrolls processing firm ADP reported Wednesday. Economists surveyed by Dow Jones […]
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Boston Fed President Collins sees caution on future interest rate cuts
Susan Collins, president of the Federal Reserve Bank of Boston, speaks during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Thursday, March 30, 2023. Ting Shen | Bloomberg | Getty Images Boston Federal Reserve President Susan Collins on Tuesday expressed support for the recent interest rate cut, but […]
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Labor Dept. won’t release Friday’s key jobs report, other data if government shuts down
The US Capitol is seen in the background as signage for US Department of Labor is seen in Washington, DC on August 4, 2025. Jim Watson | Afp | Getty Images The Labor Department is preparing for what would amount to a news and data blackout should the U.S. government suspend operations. In a contingency […]
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Core inflation rate held at 2.9% in August, as expected, Fed’s gauge shows
Core inflation was little changed in August, according to the Federal Reserve’s primary forecasting tool, likely keeping the central bank on pace for interest rate reductions ahead. The personal consumption expenditures price index posted a 0.3% gain for the month, putting the annual headline inflation rate at 2.7%, the Commerce Department reported Friday. Excluding food […]
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Jobless claims tumble to 218,000, well below estimate despite fears of labor market weakness
Initial claims for unemployment insurance were well below expectations last week, helping to douse caution at the Federal Reserve and elsewhere that the labor market is in danger. First-time filings for the week ending Sept. 20 totaled a seasonally adjusted 218,000, down 14,000 from the prior week’s upwardly revised figure and significantly less than the […]
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Powell says slowing labor market prompted rate cut, sees ‘challenging situation’ ahead
Key Points Fed Chair Jerome Powell said that weakness in the labor market is outweighing concerns about stubborn inflation, leading to a decision to lower the central bank’s key interest rate last week. “This policy stance, which I see as still modestly restrictive, leaves us well positioned to respond to potential economic developments,” he added […]
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Watch Fed Chair Jerome Powell speak live on interest rates and the economy
[The stream is slated to start at 12:35 p.m. ET. CNBC Television will start the stream when the event begins. Please refresh the page if you do not see a player above.] Federal Reserve Chair Jerome Powell speaks Tuesday to the Greater Providence Chamber of Commerce 2025 Economic Outlook Luncheon. This is Powell’s first speech […]
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Chicago Fed President Goolsbee says officials have to be careful not to get too aggressive with rate cuts
Key Points Chicago Fed President Austan Goolsbee expressed caution about lowering interest rates as the U.S. economy grapples with the forces of slower growth and a weaker labor market. “With inflation having been over the target for four and a half years in a row and rising, I think we need to be a little […]
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Watch new Fed Governor Stephen Miran speak live on the economy and interest rates
[The stream is slated to start at Noon ET. CNBC Television will start the stream when the event begins. Please refresh the page if you do not see a player above.] New Federal Reserve Governor Stephen Miran speaks Monday to the Economic Club of New York to explain his views on the economy and monetary […]
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