Fed’s Kashkari advocates six-week economic lockdown to defeat the coronavirus SEARCH QUOTES Source link
Economy
Trump’s dream of a ‘V’ recovery is hanging in the balance of stimulus talks
As the White House has continued to push a narrative of a sharp recovery after a history-making recession, the economic data in large part has not been cooperating. Jobs numbers of late are showing progress but pointing to at best a gradual recovery. The sharp uptick in coronavirus cases appears to be have ebbed but […]
Payrolls up by nearly 1.8M, unemployment rate falls
Jobs report July 2020: Payrolls up by nearly 1.8M, unemployment rate falls SEARCH QUOTES Source link
The jobs report was better than expected, but market worries gains will be fleeting without stimulus
A woman wearing a face mask walks past a sign in front of the US Department of Labor amid the coronavirus pandemic on April 29, 2020, in Washington, DC. Oliver Douliery | AFP | Getty Images Markets see a slight positive in July’s jobs report, but the focus remains on whether Congress can agree to […]
Here’s where the jobs are for July 2020 — in one chart
The U.S. economy added a greater number of jobs than expected during July as food-service workers returned in droves and helped the broader leisure and hospitality sector add more than half a million positions. The Labor Department reported Friday that payrolls increased by 1.763 million in July, above the 1.48 million estimate that economists polled by […]
Mortgage rates set another record low, but borrowers take a step back
Record low mortgage rates are clearly not as impressive as they used to be. Even with another new low set last week, mortgage application volume decreased 5.1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand is still considerably higher for refinances and purchase applications than it was a year […]
Fed Vice Chair Clarida still sees economy staging a comeback this year
Federal Reserve Vice Chairman Richard Clarida said Wednesday he expects the economy to continue to recover through the year and likely return to its pre-pandemic level by the end of the 2021. In an interview with Steve Liesman on CNBC’s “Squawk Box,” the central bank’s director of bank supervision said he hasn’t changed his forecast […]
Fed’s Mester says ‘downside risks’ to economy on the rise
Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego, California, January 3, 2020. Ann Saphir | Reuters Cleveland Federal President Loretta Mester called Wednesday for more help from Congress and said the central bank stands at the ready to provide […]
The ballooning money supply may be the key to unlocking inflation in the U.S.
A woman counts U.S. dollar bills. Marcos Brindicci | Reuters With the Federal Reserve and Congress pushing stimulus efforts to new heights, some investors are keeping a close eye on a surge in the U.S. money supply for signs of inflation’s long-awaited return. With a litany of metrics showing rapid growth in the value of […]
ADP private payroll growth at 167,000 in July, well below expectations
The move to get displaced workers back to their jobs slowed sharply in July, with private payrolls increasing by just 167,000, ADP reported Wednesday. That total was well below the 1 million expected from economists surveyed by Dow Jones and represented a tumble from the 4.314 million created in June, according to the report, which […]