Jeremy SiegelScott Mlyn | CNBC Wharton School Professor Jeremy Siegel no longer thinks it's vital for the Federal Reserve to implement an emergency interest rate reduction, but still wants policymakers to cut quickly and aggressively.Siegel caused a stir Monday when he told CNBC that Fed Chair Jerome Powell and his...
Category: Economy
Jobless rates fall in July for Asian Americans, bucking the overall trend
A sign for a health-care career fair at Cape Fear Community College in Wilmington, North Carolina, on Feb. 28, 2023.Allison Joyce | Bloomberg | Getty ImagesThe unemployment rate fell for Asian Americans from June to July, bucking a broader trend, according to data released Friday by the U.S. Bureau of...
Fed’s key inflation gauge rose 2.5% in June from a year ago, easing path to rate cut
An important gauge for the Federal Reserve showed inflation eased slightly from a year ago in June, helping to open the way for a widely anticipated September interest rate cut.The personal consumption expenditures price index increased 0.1% on the month and was up 2.5% from a year ago, in line...
U.S. economy grew at a 2.8% pace in the second quarter, much more than expected
Economic activity in the U.S. was considerably stronger than expected during the second quarter, boosted by a strong consumer, government spending and a sizeable inventory build, according to an initial estimate Thursday from the Commerce Department.Real gross domestic product, a measure of all the goods and services produced during the...
Why an indicator that has foretold almost every recession doesn’t seem to be working anymore
Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York, US, on Thursday, May 16, 2024. Alex Kent | Bloomberg | Getty ImagesWall Street's favorite recession signal started flashing red in 2022 and hasn't stopped — and thus far has been wrong every step of the...