After four straight months of declines, sales of previously owned homes rose 1.4% in June month to month to a seasonally adjust annualized rate of 5.86 million units, according to the National Association of Realtors.These sales represent closings, so they are based on contracts signed in April and...
Treasury Secretary Janet Yellen on Friday warned Congress that her department will need to embark on "extraordinary measures" on Aug. 2 to prevent the U.S. government from defaulting if lawmakers are unable to strike a deal to raise or extend the debt ceiling.In a letter to House Speaker...
A National Park Service worker replaces a flag at the Washington Monument which reopened today following a six month closure due to COVID-19 safety measures, in Washington U.S., July 14, 2021.Kevin Lemarque | ReuterThe U.S. economy is expected to post another roaring growth spurt in the second quarter,...
San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019.Ann Saphir | ReutersSan Francisco Federal Reserve President Mary Daly told CNBC on Tuesday that a strong economic recovery will allow the central bank to slow its asset...
Wholesale prices for June rose more than expected in another sign that inflation is moving at a faster pace than markets had anticipated.The producer price index, which measures what companies get for the goods they produce, increased 1% from May and jumped 7.3% on a year-over-year basis. That...
Initial claims for unemployment insurance fell to a new pandemic-era low last week, the Labor Department reported Thursday.First-time filings for benefits totaled 360,000, in line with Dow Jones estimates and the best number since March 14, 2020.The total represented a substantial decrease from the previous week's upwardly revised...
Federal Reserve Chairman Jerome Powell appears Thursday before the Senate Committee on Banking, Housing and Urban Affairs to conclude his two-day appearance on Capitol Hill to discuss the economy and the future of monetary policy.On Wednesday, when he appeared before the House Financial Services Committee, the central bank...
Treasury Secretary Janet Yellen cautioned Thursday that prices could continue to rise for several more months, though she expects the recent startling inflation run to ease over time,.In a CNBC interview, the Cabinet official added that she worries about the problems inflation could pose for lower-income families looking...
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.Mike Blake | ReutersThere are several signs in the market for newly built homes that point to a potential slowdown for the nation's homebuilders.Data released Tuesday...
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.Mike Blake | ReutersThe Covid-19 recession is in the books as one of the deepest — but also the shortest — in U.S. history, the official...