January's payrolls report on Friday could be rough, with as many as 400,000 jobs lost by one estimate
A jobs market that was on fire for most of 2021 looks like it sustained a cold splash of reality to start the new year.
CNBC Economy
Companies unexpectedly cut 301,000 jobs in January as omicron slams labor market, ADP says
Private payrolls fell by 301,000 for the month versus the estimate for a 200,000 gain, according to payrolls processing firm ADP.
After a huge year for growth, the U.S. economy is about to slam into a wall
The U.S. economy last year grew at its fastest pace since 1984. Don't expect a repeat performance in 2022.
There were 4.6 million more job openings than unemployed workers in December
Job openings totaled nearly 11 million in December while the Great Resignation cooled off, according to Labor Department data Tuesday.
Suburban sprawl is weighing on the U.S. economy
Real estate zoning restrictions have produced a national housing shortage and affordability crisis. Architects and economists say reform could boost growth.
Key Fed inflation gauge rises 4.9% from a year ago, fastest gain since 1983
A gauge the Federal Reserve prefers to measure inflation rose 4.9% from a year ago, the biggest gain going back to September 1983.
GDP grew at a 6.9% pace to close out 2021, stronger than expected despite omicron spread
Gross domestic product accelerated at a 6.9% annualized pace in the fourth quarter, well ahead of the 5.5% estimate.
Mortgage refinance demand plunges 13% as interest rates climb toward two-year high
As mortgage rates continue to rise, demand for refinances is plunging and homebuyers are struggling.
Federal Reserve points to interest rate hike coming in March
The Federal Reserve on Wednesday indicated it could soon will raise interest rates for the first time in more than three years.
Here's what changed in the new Fed statement
This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting on Dec. 15.
The Fed is likely to signal a March interest rate hike and that further policy tightening is coming
Even with the market's violent correction, a hawkish Federal Reserve is expected to signal it plans to raise interest rates and consider other tightening.
CNBC Fed Survey forecasts more aggressive Fed tightening
At the Fed's two-day meeting, which ends Wednesday, it is expected to give more clues as to when it will hike rates and begin shrinking the balance sheet.
Home prices surged in November, but at a slower rate than in October, S&P Case-Shiller says
Even as the housing market entered its traditionally slower season in November, home prices showed big gains from a year ago.
IMF cuts 2022 global growth forecast as U.S., China recovery wanes
The International Monetary Fund has downgraded its global growth forecast for 2022 as rising Covid cases, supply chain disruptions and inflation hamper the economy.
Inflation surge could push the Fed into more than four rate hikes this year, Goldman Sachs says
Goldman economist David Mericle said the omicron spread is aggravating price increases and could push the Fed into a faster pace of rate hikes.
Fed releases long-awaited study on a digital dollar but doesn't take a position yet on creating one
The Fed released its exploration of a digital dollar, exploring the pros and cons of the much-debated issue and soliciting public comment.
Jobless claims jump to 286,000, the highest level since October
Initial filings totaled 286,000, well above the estimate of 225,000 and a substantial gain from the previous week's 231,000.
The Fed is about to see a lot of new faces. What it means for banks, the economy and markets
In what likely will just a few months' time, the Federal Reserve will look a lot different.
Retail sales dropped 1.9% in December as higher prices caused consumers to curb spending
The advance monthly sales report to close out the year showed a decline of 1.9%, considerably worse than the Dow Jones estimate for just a 0.1% drop.
Fed's Harker calls for 'action on inflation,' sees 3 or 4 rate hikes likely this year
Philadelphia Federal Reserve President Patrick Harker said he foresees three or four interest rate hikes this year as likely to fight inflation.
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