Economy

Investors are feeling bullish that the Federal Reserve will begin to cut interest rates in the first half of next year, despite Fed Chair Jerome Powell and other officials saying they’re not considering rate cuts just yet. Still, some think rate cuts could come as early as the first quarter.

Employers are growing more cautious, pulling down some job postings and reining in hiring. Employees are sticking around more and not bouncing as readily for better opportunities.

The Black Friday and Cyber Monday billion-dollar US spending spree was fueled by “Buy Now, Pay Later” shoppers.

By Parija Kavilanz, CNN New York (CNN) — Black Friday, for plenty of people, will mark a day of relaxation after family and friends gather around a traditional turkey dinner the night before. For serious deal hunters, however, there will be no rest. The day after Thanksgiving historically has marked the start of the holiday

As you make your way down the grocery aisle, maybe picking up supplies for apple pie, you might notice something interesting. The price of flour, sugar and butter? Up. But the price of apples? Way down.

By Eva Rothenberg, CNN New York (CNN) — While retail giants like Amazon and Walmart hope for big profits from Black Friday, the less-heralded Small Business Saturday is looking to continue its winning streak for the nearly 32 million small businesses riding a wave of enthusiastic consumer spending and robust government investment. According to a

After encountering rapid price increases for more than two years, discounts at some stores would certainly feel like a much-needed respite.

Americans cut their retail spending in October for the first time since March, with interest rates at a 22-year high.

US wholesale inflation cooled off in October, reversing a three-month trend that had seen the cost of energy push up prices, according to data released Wednesday by the Bureau of Labor Statistics.

New survey data released Monday by the Federal Reserve Bank of New York showed that US consumers believe inflation will continue to ease, the labor market will remain strong and they will continue to spend more than did they pre-pandemic.

Ken Rose, a restaurateur and chef in Sandy, Utah, said that though he has always paid his employees above his state’s minimum wage of $7.25 an hour, in the past few years, he’s had to bump employee pay higher than ever.

The September jobs report was somewhat of a shocker, with a surprise 336,000 positions added — nearly double what economists had predicted.

By Bryan Mena, CNN Washington, DC (CNN) — Americans’ moods soured this month, largely due to a wobbly stock market. The University of Michigan’s latest consumer survey showed that sentiment declined 6% this month, according to a final reading released Friday, though sentiment is 6.5% better than it was a year ago. The survey also showed

By Elisabeth Buchwald, CNN New York (CNN) — The Federal Reserve’s preferred inflation gauge cooled slightly last month, according to data released Friday by the Commerce Department. Excluding gas and food prices, the core Personal Consumption Expenditures index rose 3.7% for the 12 months ended in September, down from the 3.8% rate seen in August.

By Bryan Mena, CNN Washington, DC (CNN) — The US economy expanded at a remarkably strong pace in the third quarter, despite interest rates at their highest level in 22 years. Gross domestic product, a measure of all goods and services produced in the economy, grew at an annualized 4.9% rate in the third quarter,

In 2021, when the price of organic cotton and other raw materials spiked, the family that runs White Lotus Home, a New Jersey-based sustainable bedding company, hoped the 20% to 25% jumps were merely momentary and opted to absorb most of the costs.

Thanks to growing competition in the market, and some reticence from consumers, automakers and car dealers are offering huge discounts on electric vehicles, particularly luxury models.

By Alicia Wallace, CNN Minneapolis (CNN) — Inflation remained elevated in September as gas and rents kept prices high and heaped more pressure on consumers, according to new data released Thursday by the Bureau of Labor Statistics. However, the latest Consumer Price Index also showed that certain inflation gauges are the lowest they’ve been in

Sheila Bair, who had a front row seat to the subprime mortgage meltdown, is worried today’s housing market is unsustainably hot.

By Alicia Wallace, CNN Minneapolis (CNN) — Fall is here, pumpkin spice lattes are flowing, and in some states, there’s a bite in the air from the first cold snap of the season. But not for the US jobs market: September was a scorcher. The US economy added an estimated 336,000 jobs last month, blowing

US pending home sales dropped 7.1% in August from the month prior as mortgage rates surging over 7% in August to levels not seen in 20 years packed a punch.

Rising gas prices and high interest rates contributed to greater economic uncertainty and dampened consumer confidence in September, dropping the key economic indicator to the lowest level in four months, according to data released Tuesday.

New home sales dropped in August from the month before, as mortgage rates topped 7% and rose to the highest levels in more than 20 years.

US home prices continued to rise in July, hitting a new record high and marking the sixth successive month of gains, as historically low inventory pushes up the cost of a home.

CNN By Parija Kavilanz, CNN New York (CNN) — Target’s decision to close nine of its stores in major cities, citing persistent large-scale theft at those locations, is the latest signal that retailers may be struggling in their battle to contain a growing and dangerous problem. Industry experts say even a small increase in crime

By Anna Bahney, CNN Washington, DC (CNN) — US mortgage rates remained flat this week, hovering over 7%, where they’ve been for six consecutive weeks as inflation pressures persist. The 30-year fixed-rate mortgage averaged 7.19% in the week ending September 21, a tick up from 7.18% the week before, according to data from Freddie Mac

Home prices continued to climb in August, even as home sales dropped, a result of the low inventory of homes for sale pushing prices up and stubbornly high mortgage rates keeping would-be buyers out of the market, according to a monthly report from the National Association of Realtors.

By Jeanne Sahadi, CNN New York (CNN) — The Federal Reserve on Wednesday chose not to raise its key interest rate, the same decision it took following its September meeting, leaving its benchmark lending rate at its highest level in 22 years. Given that the Fed influences — directly or indirectly — interest rates on

US home building sank in August, dropping 11.3% from July levels, as mortgage rates stayed elevated amid lingering inflation.

By Bryan Mena, CNN Washington, DC (CNN) — Rising gas prices haven’t taken their toll on the American consumer just yet, amid growing optimism that inflation is easing, according to the latest consumer sentiment survey from the University of Michigan. The university’s latest consumer survey released Friday showed that Americans’ expectation of inflation rates in

Wholesale inflation accelerated for the second month in a row, mirroring a similar trend in the Consumer Price Index report, the Bureau of Labor Statistics reported Thursday.

America’s small businesses felt gloomier in August as they continued to struggle with inflation and hiring qualified workers, according to a survey from the National Federation of Independent Business released Tuesday.

On a warm Saturday morning in July, as Kathie Leonard planned to set out on her boat for a day on the water off the coast of Maine, her phone rang.

By Samantha Delouya, CNN (CNN) — People aren’t buying furniture like they used to. Last week, a pair of furniture retailers said they are experiencing a massive sales slump compared to last year. On Thursday, luxury furniture brand RH reported a 19% drop in second-quarter revenue, while on Friday, Hooker Furnishings, a Virginia-based furniture manufacturer