Category: Economy

A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back.The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department's Bureau of Labor Statistics...

Job openings fell more than forecast in April, signaling a potential weakening in the labor market that could provide the Federal Reserve with more impetus to start lowering interest rates.The Labor Department's Job Openings and Labor Turnover Survey released Tuesday showed that the level of employment vacancies slipped to 8.06...

Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022.Bloomberg | Bloomberg | Getty ImagesThe prominent OPEC+ oil producers' alliance is awaiting concrete central bank action on interest rates before factoring in the potential impact on the energy demand landscape, according to Saudi Arabia's energy minister."Central banks, with all respect,...

The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance.This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic."This increase marks the second consecutive quarterly rise and was primarily driven...

JPMorgan Chase's chairman and CEO, Jamie Dimon, says a "hard landing" for the U.S. cannot be ruled out.When asked by CNBC's Sri Jegarajah about the prospect of a hard landing, Dimon replied: "Could we actually see one? Of course, how could anyone who reads history say there's no chance?"The CEO...