A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Washington DC CNN — After more than a year of soaring prices monopolizing the attention of Wall Street, […]
Hong Kong CNN — Japan’s workers still aren’t getting paid enough to keep up with rising prices. That’s hurting living standards and creating a major headache for the country’s new central bank chief as he marks his first week on the job. Adjusted for inflation, wages slipped 2.6% in February, compared to the same month […]
New York CNN — Stamp prices are set to tick up. The US Postal Service said Monday that it filed a notice with its regulators to increase prices on first-class mail stamps to 66 cents from 63 cents. If approved, the change would take effect in July, raising the cost of mailing a first-class letter […]
Washington, DC CNN — The fallout from the recent banking crisis is likely to push the US economy into a mild recession later this year, according to notes from the Federal Reserve’s March policy meeting, released on Wednesday. Since November 2022, staff economists at the Federal Reserve have predicted subdued growth and a weakening economy […]
Minneapolis CNN — The banking crisis could help the Federal Reserve’s fight to bring down inflation, but the central bank needs to be “cautious” in its actions moving forward, Chicago Fed President Austan Goolsbee said Tuesday. Goolsbee, the newest Fed appointee, spoke before the Economic Club of Chicago and addressed the “new, big, hairy elephant […]
Minneapolis CNN — US Treasury Secretary Janet Yellen said she believes the American economy remains strong and its banking system is resilient despite some recent turmoil among regional financial institutions. “I’ve not really seen evidence at this stage suggesting a contraction in credit, although that is a possibility,” Yellen said at a press conference Tuesday […]
London CNN — At the start of the year, economists and corporate leaders expressed optimism that global economic growth might not slow down as much as they had feared. Positive developments included China’s reopening, signs of resilience in Europe and falling energy prices. But a crisis in the banking sector that emerged last month has […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — In an unusual coincidence, the US jobs report was released on a holiday Friday […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — There’s been a seismic shift in investor perspective: Bad news is no longer good […]
Minneapolis CNN — The US labor market has kept trucking right along even as other areas of the economy have slowed. But that once high-octane ride is showing some signs of wear and tear amid the Federal Reserve’s yearlong efforts to cool inflation by suppressing demand. Job cuts are mounting, hiring activity is losing momentum, […]