Breaking News: Economy

Danger ahead: The U.S. economy has yet to face its biggest recession challenge

Danger ahead: The U.S. economy has yet to face its biggest recession challenge

A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an …

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Fed hikes interest rates by 0.75 percentage point for second consecutive time to fight inflation

Fed hikes interest rates by 0.75 percentage point for second consecutive time to fight inflation

The Federal Reserve on Wednesday enacted its second consecutive 0.75 percentage point interest rate increase as it seeks to tamp down runaway inflation without creating a recession. In taking the benchmark overnight borrowing rate up to a range of 2.25%-2.5%, the moves in June and July represent the most stringent consecutive moves since the Fed …

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Here's how to know if we're in a recession, and it's not what you think

Here’s how to know if we’re in a recession, and it’s not what you think

Everyone who cares knows that recessions happen when there are two consecutive quarters of negative growth — everyone, that is, except for the people who actually decide when the economy is in recession. For those folks, at the National Bureau of Economic Research, the definition of recession is much squishier. Officially, the NBER defines recession …

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The numbers show the U.S. economy is at least teetering on a recession

The numbers show the U.S. economy is at least teetering on a recession

Foreman Angel Gonzalez and Anthony Harris, with E-Z Bel Construction, work on pipes along Fredericksburg Road during an excessive heat warning in San Antonio, Texas, July 19, 2022. Lisa Krantz | Reuters The White House is sure the economy is not in a recession nor headed for one. Wall Street is pretty sure there is …

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The Fed is likely to hike rates three-quarters of a point in response to new economic signals

The Fed is likely to hike rates three-quarters of a point in response to new economic signals

Faced with a slowing economy and inflation that is showing signs of at least topping if not retreating, the Federal Reserve next week likely will raise interest rates by three-quarters of a percentage point. For a brief period last week, markets had flirted with the idea of the central bank deciding on a full percentage …

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Retail sales rose more than expected in June as consumers remain resilient despite inflation

Retail sales rose more than expected in June as consumers remain resilient despite inflation

Consumer spending held up during June’s inflation surge, with retail sales rising slightly more than expected for the month amid rising prices across most categories, the Commerce Department reported Friday. Advance retail sales increased 1% for the month, better than the Dow Jones estimate of a 0.9% rise. That marked a big jump from the …

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By putting partisanship aside, North Carolina ranks No. 1 in America's Top States for Business, with the nation’s strongest economy

By putting partisanship aside, North Carolina ranks No. 1 in America’s Top States for Business, with the nation’s strongest economy

Powered by an economy that has hit its stride, and turbocharged by a long track record of innovation, North Carolina is America’s Top State for Business in 2022. The Tar Heel State has always been a contender in CNBC’s annual competitiveness rankings, rarely finishing outside the top 10 since the study began in 2007. The …

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Markets are now bracing for the possibility of bigger Fed interest rate hikes ahead

Markets are now bracing for the possibility of bigger Fed interest rate hikes ahead

As inflation climbs to new 40-year highs, expectations for interest rate increases from the Federal Reserve are escalating as well. With the rate-setting Federal Open Market Committee scheduled to hold a policy meeting this week , markets are ramping up their bets on the way things will go, particularly in the months ahead. There’s still …

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Strong inflation, anxious consumers add up to more worries that recession has already arrived

Strong inflation, anxious consumers add up to more worries that recession has already arrived

Trays of beef are for sale in the meat section of a supermarket in McLean, Virginia, June 10, 2022. Saul Loeb | AFP | Getty Images The case that a recession is looming over the U.S. got stronger Friday, as blistering inflation and historic lows in consumer sentiment painted an increasingly dark economic picture. As …

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