Natixis economist Joseph LaVorgna said the Federal Reserve's industrial production index correlates very closely to GDP growth, and the correlation between its quarterly annualized changes and real GDP growth is around 70%. "It correlates to GDP pretty well, and I did notice within the data...
Chicago Federal Reserve President Charles Evans said on Monday that he'd be comfortable leaving interest rates alone until autumn 2020 to help ensure sustained inflation in the U.S. "I can see the funds rate being flat and unchanged into the fall of 2020. For me, that's to help support...
The swift opposition to Cain underscores the concerns the Senate has about the qualifications of Trump's picks for the central bank. Wall Street has raised fears that both Cain and conservative economist Stephen Moore, a former Trump campaign advisor, would be too political to serve on the Fed...
Vice President Mike Pence said that despite his bullish view of the state of the economy, he backs the president's calls for further rate cuts from the Federal Reserve. The comments came in response to a question from CNBC's Joe Kernen and will air 6 a.m. ET Thursday on...
Federal Reserve Chairman Jerome Powell will meet with Democratic lawmakers at their annual policy retreat Thursday night as the central bank faces renewed political pressure from the Trump White House. Democrats invited Powell to the meeting as part of an effort to focus their agenda on kitchen table issues...
California stations are selling $4 a gallon gasoline, but for drivers in most other states, unleaded gas this summer may not even reach $3 a gallon or stay there for long if it does. Rising gasoline prices were a big reason why March consumer prices jumped the most in...
George Frey | Bloomberg | Getty Images Employees sort Bordeaux cookies for packing at the Pepperidge Farm Inc. manufacturing facility in Richmond, Utah. U.S. producer prices increased by the most in five months...
The number of Americans filing applications for unemployment benefits dropped to a 49-1/2-year low last week, pointing to sustained labor market strength that could temper expectations of a sharp slowdown in economic growth. Initial claims for state unemployment benefits fell 8,000 to a seasonally adjusted...
Nobel Prize-winning economist Paul Krugman says bond market signals are flashing "a pretty good chance of a recession sometime in the next year or so." He points out that China is struggling and Europe may already be in a recession. But Krugman says it is unlikely...
Tim Rue | Bloomberg | Getty Images The Yang Ming Marine Transport Corp. Oakland cargo ship is guided into the Port of Oakland by a pair of AmNav tugboats as an engineer...