Credit card losses are rising at the fastest pace since the Great Financial Crisis
Goldman Sachs predicts credit card losses will continue to climb through the end of 2024 or early 2025 for most issuers.
CNBC Economy
The Fed would be 'flying blind' on interest rate decisions after a government shutdown
A looming government shutdown could prevent the Federal Reserve from raising rates in November, Bank of America says.
Striking unions impacting the economy at a level not seen in decades
So far, the UAW stoppage has impacted just a small portion of the workforce with limited implications for the broader economy.
August wholesale inflation rises 0.7%, hotter than expected, but core prices in check
The producer price index was expected to increase 0.4% in August, according to the Dow Jones consensus estimate.
August core inflation, excluding food and energy, rose 0.3%, hotter than expected
The consumer price index was expected to increase 0.6% in August and 3.6% from a year ago, according to the Dow Jones consensus estimate.
Fears over access to credit hit highest level in more than a decade, New York Fed survey shows
Respondents indicating that the ability to get credit is harder now than it was a year ago rose to nearly 60%.
Taylor Swift is single-handedly giving a boost to hotel industry revenue
An analysis found hotels in states Swift visited did notably better than the national average.
'Very stupid': Italy's bank tax remains controversial as government scrambles to update it
Italy's shock tax on banks continues to prove controversial, even as the government insists it can "improve" it.
Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000
Nonfarm payrolls were expected to increase 170,000 in August, according to a Dow Jones consensus estimate.
Here's where the jobs are for August 2023 — in one chart
Health care and social assistance was again the top area for job growth in August.
Black unemployment rate declines in August, even as it rose across the board
The jobless rate ran higher overall but slid for Black workers.
Taylor Swift, Beyoncé and 'Barbenheimer' are lifting consumer spending this quarter. But Morgan Stanley says it may not last
Morgan Stanley sees a potential unwinding from these events, as well as the resumption of student loan payments, in the fourth quarter.
U.S. job growth slowed sharply to 177,000 in August, below expectations, ADP says
Economists surveyed by Dow Jones were expecting 200,000 jobs added in August.
American workers are demanding almost $80,000 a year to take a new job
The average "reservation wage," or the minimum acceptable salary offer to switch jobs, rose to $78,645 during the second quarter of 2023.
China's economic model is 'washed up on the beach,' says veteran investor David Roche
China's economic model is "washed up on the beach" and "not going to take off again," which will have a big impact on global markets, says veteran investor David Roche.
Retail sales increased 0.7% in July, better than expected as consumer spending is holding up
The advanced retail sales report showed a seasonally adjusted increase of 0.7% for the month, better than the 0.4% Dow Jones estimate
Russian ruble slumps to near 17-month low, briefly moves past 100 against dollar
Friday figures showed Russia's GDP expanded by a yearly 4.9% in the second quarter.
Wholesale prices rose 0.3% in July, higher than expected
The producer price index rose 0.3% for the month, slightly higher than expectations.
Interest rates should stay around 5% for longer — even as inflation falls, top economist Jim O'Neill says
Veteran economist Jim O'Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides.
Thursday's inflation data may be low, but don't expect the Fed to declare 'mission accomplished' yet
History has shown that inflation is stubborn and can last longer than expected.
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