U.S. GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit
Gross domestic product unexpectedly declined 1.4% in the first quarter, an abrupt reversal for an economy coming off its best performance since 1984.
Gross domestic product unexpectedly declined 1.4% in the first quarter, an abrupt reversal for an economy coming off its best performance since 1984.
Consumer spending habits are starting to shift as inflation rises and people emerge from the pandemic.
Cleveland Fed President Loretta Mester said she's in favor of raising interest rates quickly, but not so quickly as to disrupt the economic recovery.
Federal Reserve Chairman Jerome Powell on Thursday affirmed the central bank's determination to bring inflation down.
Federal Reserve Chairman Jerome Powell speaks Thursday on a panel presented by the International Monetary Fund. CNBC's Sara Eisen will moderate the talk.
Initial jobless claims last week were a bit higher than expected but still reflective of a labor market where employers are loathe to fire workers.
San Francisco Fed President Mary Daly acknowledged that a series of rate hikes over the coming months could tip the economy into a shallow recession.
Atlanta Fed President Raphael Bostic did not commit in a CNBC to interview to what pace the Fed should take in increasing benchmark rates.
Sharply higher mortgage rates are causing homebuyers to pull back, and homebuilder sentiment dropped as a result.