CNBC Economy

Tackling runaway inflation won't be easy and it won't be quick, and it may carry a steep price tag that is just beginning to be paid.

First-time filings for the week ended June 4 totaled 229,000, well ahead of the 210,000 Dow Jones estimate.

Mortgage demand continues to fall as interest rates rise further and affordability in the housing market weakens.

The Atlanta Fed's GDPNow tracker is now pointing to an annualized gain of just 0.9% for the second quarter.

Two years of rapidly rising home prices have pushed the nation's collective home equity to new highs.

Cleveland Fed President Loretta Mester said she doesn't see evidence that inflation has peaked and is on board with supporting multiple rate increases.

Nonfarm payrolls were expected to increase 328,000 in May, according to Dow Jones estimates.

Fed Vice Chair Lael Brainard said it's unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon.

Private sector employment rose by just 128,000 for the month, falling well short of the 299,000 Dow Jones estimate.

Most of the U.S. has been seeing just "slight or modest" economic growth over the past two months or so, according to a Fed report Wednesday.

The openings total declined by 455,000 from the upwardly revised March number to 11.4 million in April, according to the Job Openings and Labor Turnover Survey.

San Francisco Federal Reserve President Mary Daly said she backs raising rates aggressively until inflation comes down.

Treasury Secretary Janet Yellen emphasized that the White House has several strategies that will reduce inflation she conceded is too high for Americans.

Fed Governor Christopher Waller said he would support hikes that pass through exceed the "neutral" level.

The Fed's preferred inflation gauge rose 4.9% in April from a year ago, a still-elevated level that nonetheless indicated that price pressures could be easing.

Signs that inflation is at least starting to abate from a 40-year high could be a positive for stocks, according to Goldman Sachs.

The U.S. economic contraction to start the year was worse than expected as weak business and private investment failed to offset strong consumer spending.

The rate-setting Federal Open Market Committee on Wednesday released the minutes from its May 3-4 meeting.

The Fed's annual Survey of Household Economics and Decisionmaking showed that just 24% thought national economic conditions were good or excellent.

Central bank official noted that the Fed is looking to tighten financial conditions, and part of that is the stock market