Economy

The soft landing that once looked nearly impossible for the Federal Reserve to pull off is still on track. That’s the message from Jan Hatzius, the chief economist of Goldman Sachs.

By Elisabeth Buchwald, CNN New York (CNN) — The US economy defied forecast after forecast predicting an imminent recession over the past two years. Instead, it grew beyond belief. A boom in immigration was part of the recipe, Federal Reserve Chair Jerome Powell said in a “60 Minutes” interview on CBS last month. But stricter

Amid a housing shortage and an affordability crisis, US homebuilding heated up in February as builders anticipate demand for new homes to stay strong.

By David Goldman and Anna Bahney, CNN (CNN) — The 6% commission, a standard in home purchase transactions, is no more. In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by

Spending at US retailers rebounded last month as Americans shelled out more for gasoline.

Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, said Wednesday it will close nearly 1,000 stores.

Inflation is in the hot seat heading into November’s election. But it’s not budging as fast as President Joe Biden would probably like.

The prices of vinyl records will feed into UK inflation statistics for the first time since 1992, highlighting a surge in their popularity among British consumers driven in part by Taylor Swift.

By Nicole Goodkind, CNN New York (CNN) — A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. After decades of growth bolstered by low interest rates and

By Diksha Madhok and Hanna Ziady, CNN New Delhi/London (CNN) — India has reported surprisingly robust economic growth, ending 2023 on a high note and providing a boost to Prime Minister Narendra Modi just weeks before an election that could give him a third term in office. Gross domestic product (GDP) in the world’s fastest

Kevin Meehan has owned his Los Angeles-based restaurant, Kali, for more than 8 years ­— but lately, he said it feels like he’s had to “roll with the punches harder than ever.”

Sales of existing homes in the US climbed in January, pushed up by buyers who were encouraged to make a purchase by falling mortgage rates. But the surge may be short-lived if rates extend a post-January climb.

By Olesya Dmitracova, CNN London (CNN) — One year after the conclusion of the world’s biggest trial of a four-day work week, a large majority of companies that took part were still allowing their employees to work a shorter week and more than half had made the change permanent. For six months between June and December

Rents continue to cool, dropping for the sixth month in a row nationwide, and providing a bit of relief to renters.

Walmart doesn’t want to just sell groceries and t-shirts. It wants to be a media and advertising giant like Amazon.

Americans are on the verge of living through a historic economic event: inflation fully returning to normal — after a series of punishing interest rate hikes — without a recession. It’s a scenario that analysts refer to as a “soft landing.”

The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi Sunak’s pledge to generate economic growth.

By Alicia Wallace and Tami Luhby, CNN (CNN) — When the deadly coronavirus become a global pandemic in March 2020, indoor public spaces were shuttered and stay-at-home orders were issued to ensure health and safety. In a flash, Nevada saw its leisure and hospitality lifeblood quickly cut off. In Las Vegas, the cacophony of voices,

Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns.

The annual pace of new home construction pulled back last month after soaring in November, despite a historic shortage of housing inventory and falling mortgage rates.

UK inflation accelerated in December for the first time since February last year, official data showed Wednesday.

By Anna Bahney, CNN Washington, DC (CNN) — Mortgage rates ticked up this week for the second week in a row, but remain more than a full percentage point lower than their high last year. The 30-year fixed-rate mortgage averaged 6.66% in the week ending January 11, up from 6.62% the previous week, according to data

Google is starting the year off with sweeping layoffs across divisions.

By Alicia Wallace, CNN New York (CNN) — Friday’s jobs report marked a fitting end to what was an odds-defying year. The US economy added 216,000 jobs in December and the unemployment rate held steady at 3.7%, the Bureau of Labor Statistics reported Friday. The monthly total blew past expectations for a net gain of

By Bryan Mena, CNN Washington, DC (CNN) — US job openings fell in November to their lowest level since March 2021, in a sign that America’s resilient job market is continuing to cool. There were a seasonally adjusted 8.79 million job openings in November, the Labor Department reported Wednesday. That’s down from October’s upwardly revised

US economic growth was slightly lower in the third quarter than previously reported, but still robust, underscoring the sheer strength of America’s economy during the summer.

By Samantha Delouya, CNN (CNN) — Job openings surged and the Great Resignation was in full swing in 2022 as the labor market slowly rebounded from the shocks caused by the pandemic. But new government data illustrates just how strong the record-breaking job market really was. The annual jobless rate for 2022 – known as

Tumbling energy prices helped to bring US wholesale inflation down below pre-pandemic levels and to its second-lowest rate this year.