Fed Raises Benchmark Rate from 2.25% to 2.5%
Fed chair Jerome Powell calls the move "appropriate for what is a very healthy economy," but financial markets don't seem to share his confidence.
U.S. Job Growth Slows to 155,000 in November
The unemployment rate remained at 3.7% and wages rose 3.1% on an annual basis, indicating continuing strength in the labor market.
Consumer Spending Jumps 0.6% in October
U.S. shoppers are benefiting from moderate inflationary pressures, while incomes increased 0.5% last month.
Economic Growth Estimate Stays Put at 3.5%
The latest GDP estimate for the third quarter confirms growth is slowing as the big boost from tax cuts starts to fade.
Latest Wall Street Slide Indicates Market Correction
"This is a correction. The question is does it lead to a bear market," says one money manager.
Caution: Stocks Are Historically Overvalued
Investor relations professionals should prepare for what's eventually inevitable: a reversion to the mean for stock prices.
U.S. Budget Deficit Swells to $779B in FY 2018
The White House blames increased spending for the mounting deficit but its own data "suggest falling revenues were a far larger contributor."
Rising Income Gap Threatens U.S. Credit Rating
"Pressures from rising inequality will exacerbate already material fiscal challenges on the horizon," Moody's warns in a report.
IMF Chief Warns of Economic Nationalism Risks
"While it is tempting to sail alone, countries must resist the siren call of self-sufficiency,” Christine Lagarde says.
Consumer Spending Growth Slows to 0.3%
Economists had expected a slowdown in August after five straight strong gains but consumer confidence remains high.
Fed Hikes Rates for Third Time This Year
“My colleagues and I are doing all we can to keep the economy strong, healthy, and moving forward,” Fed Chairman Jerome Powell told reporters.