We still do not definitively know when Kevin Warsh’s nomination will move forward, but a floor vote in the Senate prior to May 15—when the current Fed chair’s term expires—is no longer out of the question.
Consumer sentiment fell in April compared to the prior month, hitting a record low, reflecting consumer concerns about gas prices and the economic impact of the Iran war.
Will this be enough to free Kevin Warsh?
It is not clear who will run the Fed after the expiration of Powell’s term if the Senate has not confirmed Kevin Warsh.
Borrowing costs for U.S. homebuyers continued their downward slide, with the benchmark 30-year fixed mortgage rate falling to 6.23 percent from 6.3 percent a week earlier.
Layoffs are near the lowest they have been in decades and hiring is accelerating.
Senator Thom Tillis appeared to directly contradict Jerome Powell’s claim that the DOJ’s investigation of the Fed’s renovation cost overruns is a pretext to pressure the Fed to lower interest rates.
The federal prosecutor running the investigation into cost overruns for a long-running renovation of the Federal Reserve’s headquarters says the inquiry will continue.
President Trump has won back the confidence of his supporters on the economy, a public opinion survey released Tuesday showed.
Former Fed governor pledges to keep monetary policy ‘strictly independent’ while pursuing reforms.
U.S. consumers spent far more at American retail stores, gas stations, and online than economists had forecast, showing no signs that the household sector has shied away from everyday or major purchases due to higher gas prices or concerns over
One year after Liberation Day, it’s clear that the critics and panicans were largely wrong.
This week, the war almost escalated into the destruction of an ancient civilization; but instead it turned into an argument about toll collection. Progress and peace!
In each month this year, the number of consumer goods categories declining in price has grown.
Consumer sentiment plunged in early April to the lowest level in the survey’s seven-decade history, as the Iran conflict weighed heavily on Republican household views of the economy.
Higher gasoline prices pushed up the consumer price index in March but price pressures were muted outside of energy.
President Donald Trump warned Iran on Thursday against charging fees on tanker ships passing through the Strait of Hormuz.
A careful reading of the latest data shows an economy where the inflation problem is largely behind us.
The spending data indicate strong consumer demand, undermining suggestions that consumers have been exhausted by persistent inflation or are retreating due to concerns about slowing job growth.
The idea that the United States might accept an Iranian fee regime in the Strait of Hormuz has produced something close to panic in the usual quarters.
Stocks rose all around the world and oil prices plummeted on the hopes that a two-week ceasefire will lead to a longer-lasting peace agreement between the U.S. and Iran.
U.S. stock futures jumped higher and oil prices fell after President Trump announced a two-week cease fire and a potential longer peace deal with Iran Tuesday night.
Immense shifts in immigration and border policies from the Biden era to the Trump era have impacted the way we calculate the labor force participation rate.
Powell’s term ends May 15. But he and NY Fed honcho John Williams are scheming to keep him in place if Kevin Warsh’s confirmation is delayed.
Here is a question that has been nagging at economists: why has wage growth held up so well when payroll growth has been so weak?
New orders for services rose to their highest level in more than three years in March, the Institute for Supply Management reported Monday, as strong demand across the economy proved resilient to the spike in energy prices driven by the U.S.-Israel military campaign against Iran.
The break-even rate of employment growth — the number of new workers needed on payrolls each month to hold the unemployment rate steady — has collapsed to near zero, according to converging analyses from the Federal Reserve Bank of Dallas and the Federal Reserve Board of Governors.
As the Biden immigration-driven labor force disaster is healed by Trump’s immigration policies, breakeven employment falls to historic lows—rewriting the rules for reading jobs data.
Jobs boomed in March, exceeding expectations by nearly 300%.
One year after Liberation Day, with many tariffs only taking full effect mid-year amid heavy front-loading, the policy has delivered measurable results.
The Labor Department said Thursday that new claims for state unemployment benefits dropped by 9,000 to 202,000 in the week ended March 28, from the prior week’s revised level of 211,000.
A year ago, President Trump said he would bring egg prices down. That is a promise made and a promise kept.
The people telling you the labor market is cracking probably failed to update their models for the single biggest structural change in the U.S. labor force in a generation.
American factories expanded at their fastest pace in nearly four years in March, shrugging off a war-driven surge in input costs that has dominated headlines but failed to dent the sector’s momentum.
American consumers came roaring back in February, with retail sales beating expectations across the board and snapping a two-month streak of disappointing readings.
Private employers added 62,000 jobs in March, blowing past the 40,000 gain economists had forecast, according to the ADP National Employment Report released Wednesday.
The JOLTS report looks less like a labor market losing steam than one settling into full employment in a country where the labor force has stopped growing rapidly.
American consumers shrugged off the Iran war and rising gas prices in March, pushing the Conference Board’s Consumer Confidence Index up to 91.8 from 91.0 in February — well above the 87.9 reading economists surveyed by Bloomberg had expected. It
Fed Chair Jerome Powell said that the Fed is inclined to look past the energy shock stemming from the war in Iran.
Speaking to undergraduate economics students at Harvard University, Powell said the standard central-banking response to energy shocks is to wait them out rather than react with policy changes.
