CNBC Economy

Sen. Mitch McConnell is set to discuss infrastructure with President Joe Biden and congressional leaders on Wednesday.

The U.S. Chamber of Commerce blamed a $300-per-week federal jobless benefit for April's far-weaker-than-expected jobs report.

Labor Secretary Marty Walsh said after April's disappointing jobs report that in normal circumstances 266,000 jobs "is a good number."

U.S. firms hired far fewer workers than expected in April, as employers struggled to find people to fill job openings.

Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1%.

Hiring was strong in April and job growth could top 1 million, though many jobs also went unfilled.

U.S. dollar-denominated exports rose 32.3% in April from a year ago, beating an estimate of 24.1% growth from analysts polled by Reuters.

Rising asset prices in the stock market and elsewhere are posing increasing threats to the financial system, the Fed warned in a report Thursday.

Initial claims for unemployment benefits fell sharply last week to 498,000, a drop of nearly 100,000 from the previous week and below the 527,000 estimate.

Private payrolls grew by 742,000 in April, according to ADP. It was well above March's 565,000 new jobs, but less than the 800,000 Dow Jones estimate.

Vice President Kamala Harris is taking on a leading role as an ambassador to small businesses, particularly in underrepresented communities. 

Treasury Secretary Janet Yellen conceded that interest rates may have to rise to keep a lid on the burgeoning economic growth.

The imbalance in goods and services with the rest of the world swelled to $74.4 billion, the Commerce Department reported Tuesday.

The recovery from the Covid recession continues to play out unequally, especially for low-wage workers, minorities and those without a college degree.

Barkin provided a guidepost for when he might change his mind and vote to tighten policy at least through cutting the monthly rate of asset purchases.

"We are seeing very substantial inflation," Buffett said. "We are raising prices. People are raising prices to us and it's being accepted."

The anticipated economic boom following the covid pandemic has been likened to the "Roaring '20s," but an analyst stressed that not everyone will benefit.

Hiring was strong in April as the economy reopened, and some economists predict more than 1 million jobs were added.

The gross domestic product data marked the second-fastest pace for growth since the second quarter of 2003.

Pending home sales rose less than expected in March, as buyers contend with record low supply and higher prices.