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 ended Sept. 20 totaled a seasonally adjusted 218,000, down 14,000 from the prior week's upwardly revised figure and...
Category: Economy
Hassett says Fed made ‘prudent call,’ signaling White House OK with quarter-point cut
The Federal Reserve's decision to cut its key borrowing rate by a quarter percentage point seems to be sitting well with the White House, if National Economic Council Director Kevin Hassett is any indication.In a CNBC interview Thursday, the day after the Fed's move, Hassett noted that the administration, and...
Sticky UK inflation unlikely to move the needle for Bank of England
Interior of cheese monger specialist cheese shop, Mons cheese mongers, East Dulwich, London, England, UK. Geography Photos | Universal Images Group | Getty ImagesThe U.K.'s annual inflation rate was steady at 3.8% in August, according to data released by the Office for National Statistics (ONS) on Wednesday.Economists polled by Reuters...
Bessent sees trade deal likely with China before November deadline on reciprocal tariffs
Treasury Secretary Scott Bessent expressed confidence Tuesday that a trade deal with China is near.With so-called reciprocal tariffs set to take effect in November, Bessent said during a CNBC interview that he expects further talks to happen before then."We'll be seeing each other again," he said during a wide-ranging exchange...
UK economy stalls in July, as slowdown sets in
A road closure sign leans against a wall outside Royal Exchange in the heart of the City of London, on 13th June 2022, in London, England. Richard Baker | In Pictures | Getty ImagesU.K. economic growth flatlined in July, according to data published Friday, adding to Chancellor Rachel Reeves' headache...