The Latest
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‘Massively Concerning' Jobs Report Sends a Signal That the Economic Recovery Could Be Fading
Weaker-than-expected job growth in September sent a signal that the sharp economic recovery off the coronavirus shutdown may be hitting a wall. The Labor Department reported Friday that nonfarm payrolls increased by 661,000 in September, held back by declines in government employment and an exodus of workers from the labor force. In normal times, that type of hiring pace would be...
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Powell to Deliver ‘Profoundly Consequential' Speech, Changing How The Fed Views Inflation
History will remember Paul Volcker and Jerome Powell as standing on the opposite ends of the inflation canyon, with the former taking desperate actions to try to tamp it down and the latter expected this week to announce an unprecedented effort to crank it back up.
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Here's Why This Recession Has Been Different From Any Other
Near-record stock market levels, a booming almost bubbling housing market and robust retail spending doesn’t sound like much of a recession. But this is no ordinary recession. The Covid-19 pandemic era is setting new standards for what an economic downturn looks like. Significantly, unemployment remains high, with the current 10.2% level still above anything the U.S. has seen since the...
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Trump Considering Former Presidential Hopeful Herman Cain for the Fed
Former presidential candidate and Godfather’s Pizza CEO Herman Cain is under consideration for a Federal Reserve governorship, CNBC has confirmed. Cain, 73, is a former chairman of the Kansas City Fed, having served at the bank from 1989-96 before leaving to pursue political activities full time. Cain met with President Donald Trump on Wednesday at the White House, where he...
