Economy

An inflation measure closely watched by the Federal Reserve ticked higher in August as steep prices continue to squeeze millions of US households.  The personal consumption expenditures index showed that consumer…

Home loan borrowing costs climbed again this week, pushing the average long-term US mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly…

Sales of new single-family homes fell more than expected in August as the rate on the popular 30-year fixed mortgage jumped above 7%, driving potential buyers to the sidelines. New home sales plunged 8.7% to a…

A US government shutdown would negatively impact the country’s credit, credit rating agency Moody’s said on Monday, a stern warning coming one month after Fitch downgraded the US by one notch on the back of a…

The publication of major US economic data, including employment and inflation reports of critical importance to policymakers and investors, will be suspended indefinitely should the federal government shut down…

Sales of previously occupied US homes fell for the third month in a row in August, as higher mortgage rates, rising prices and a dearth of properties on the market discouraged many would-be homebuyers.…

Most American adults have cut spending this year, according to a new CNBC-Morning Consult survey, which also revealed that consumers plan to stay frugal through the holidays. A whopping 92% of adults have cut…

Chevron’s Mike Wirth sees oil prices getting “close” to reaching the $100-a-barrel level, the chief executive of the No. 2 US energy producer said in an interview on Bloomberg TV. “Supply is tightening, inventories are…

US retailers will hire the lowest number of seasonal workers for this holiday season since the final quarter of 2008, due to increased labor costs and shaky consumer confidence, according to a report by…

Billionaire investor Ken Griffin, founder of hedge fund Citadel, said on Thursday that he has some doubts about the continuity of the markets rally and is concerned about the US fiscal situation. “I’m a bit anxious that…