El-Erian warns of ‘cost-of-living crisis,’ says Fed rate hikes could cause recession
The Federal Reserve's efforts to fight inflation threaten to sink the U.S. into contraction, according to economist Mohamed El-Erian.
Home prices heated up to start the year, with huge surges in Arizona and Florida, says S&P Case-Shiller report
Home prices picked up steam again in January after a brief pullback, even as mortgage rates increased.
Here’s where the jobs are — in one chart
Post-Covid rebounds in the leisure and hospitality and business sectors continued last month and helped drive a strong March jobs report.
Economy added 431,000 jobs in March despite worries over slowing growth
Nonfarm payrolls were expected to rise by 490,000 in March, according to Dow Jones estimates.
The Fed’s preferred inflation gauge rose 5.4% in February, the highest since 1983
The personal consumption expenditures price index increased 5.4% from the same period in 2021, the biggest jump going back to April 1983.
Companies added 455,000 jobs in March, slightly more than expected, ADP says
Private payrolls expanded by 455,000 for the month, the firm said, about in line with the Dow Jones estimate of 450,000.
Mortgage rate soars closer to 5% in its second huge jump this week
The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage News Daily.
Pending home sales sink in February, setting a grim tone as housing market enters key spring season
Higher mortgage rates are taking their toll on home sales, as a strong housing market begins to turn.
The second Cold War is already beginning, experts say, and many of the battles are being fought with economic weapons
A new Cold War will pose a new challenge to a market that is still recovering from the uncertainties of the pandemic.