New York CNN Business — As the Federal Reserve kicks off another pivotal rate-setting meeting, lawmakers are reminding the central bank exactly just how high the stakes are. In a letter sent Monday to Fed Chair Jerome Powell, Democratic senators expressed concern about the Fed’s plan to continue raising interest rates at an “alarming pace” […]
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 Business — Despite a stock-market bounce in October that gave the Dow its biggest monthly […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — The Federal Reserve is most likely going to raise interest rates by three quarters of a percentage point again on Wednesday, its fourth straight supersized hike. And it’s […]
New York CNN Business — Stubborn inflation and the Federal Reserve’s jumbo-sized interest rate hikes will drive the American economy into a 1990-style mild recession starting in the spring, Fitch Ratings warned on Tuesday. In a report obtained first by CNN, Fitch slashed its US growth forecasts for this year and next because of one […]
New York CNN Business — US factories are humming, and manufacturers are scrambling to find workers as the pace of hiring hits levels not seen in decades. Friday’s September jobs report showed US manufacturers added another 22,000 workers in September, increasing employment in the sector by nearly 500,000 over the course of the last 12 […]
Editor’s Note: Gad Levanon is the chief economist at the Burning Glass Institute. He’s the former head of The Conference Board’s Labor Market Institute. The opinions expressed in this commentary are his own. To many economists and analysts, the US economy has represented a paradox this year. On the one hand, GDP growth has slowed […]
Editor’s Note: A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. Sign up here. Hong Kong CNN Business — The future looked promising for Cherry in May last year, when she secured a […]
CNN — On Friday, the Bureau of Labor Statistics reported that the US unemployment rate had ticked up to 3.7% in August, an increase that surprised economists who had expected it to remain at July’s 3.5%. In a normal labor market, rising unemployment is a red flag. But even though today’s labor market is far […]
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