Federal Reserve losses contribute to federal deficit

Oct 24, 2023
When the central bank makes money, it hands it to the Treasury. But now it's losing money as it pays interest to banks on their deposits.
The Fed is, among other things, a bank for banks, and it pays interest to those banks. Those interest rates have gone up. Above, the Eccles building, which houses Fed governors' offices.
Kevin Dietsch/Getty Images

More than 130 major companies press world leaders to phase out fossil fuels by 2035

Oct 24, 2023
Companies including Ikea, Nestle, Unilever and Volvo are saying that they're already grappling with the costs of the climate crisis.
Unilever is among the companies that signed on  to a recent letter ahead of COP28 urging world leaders to cut fossil fuel use.
Christopher Furlong/Getty Images

Why are bond yields so high right now?

Oct 23, 2023
The yield on the 10-year Treasury briefly hit 5%, the highest level since 2007. A resilient economy and expanding debt are pushing rates up.
For a while, bond markets expected a weaker economy and possible rate cuts by the Federal Reserve in 2024.
Win McNamee/Getty Images

As the labor market loosens, workers may be more willing to work nights and weekends

Oct 20, 2023
They may find it attractive to earn money while others are playing.
"People are reconsidering their income needs and maybe could find ways to time their classes, time their childcare, to what the employers are offering," said Penn State Abington economics professor Lonnie Golden.
olaser/Getty Images

Fed chair Powell's latest speech hints at caution regarding interest rates

Oct 20, 2023
Jerome Powell spoke Oct. 19 and said the Federal Open Market Committee would be "proceeding carefully."
“Given the uncertainties and risks, and given how far we’ve come, the committee is proceeding carefully," Powell said.
Spencer Platt/Getty Images

Did retail sales grow because we bought more stuff, or did the stuff get more expensive?

Oct 17, 2023
The way the Census Bureau calculates its retail sales data wasn't an issue until prices started rising a couple years back.
Grocery store spending rose 0.4% in September, according to the Census Bureau.
Mario Tama/Getty Images

September's real wages are expected to rise

Oct 9, 2023
And that would mean your paycheck's purchasing power would be getting a boost relative to inflation.
Rising real wages means consumers are "making up for the consumption power that they lost when prices were rising faster than wages," says Erica Groshen, former Bureau of Labor Statistics commissioner.
Justin Sullivan/Getty Images

For public good, not for profit.

When will prices go back down?

Oct 6, 2023
The answer might disappoint you.
Inflation is slowing, but when will prices go back down? Above: Shoppers walk through a grocery store in Washington, DC.
Stefani Reynolds/AFP via Getty Images

The job market might finally be returning to "normal," economists say

Oct 5, 2023
Experts are predicting a slight decrease in wage growth, a drop that get us closer to pre-pandemic rates.
New September job market data comes out Friday, and economists expect we'll see a little less payroll growth than in August.
Andrew Caballero-Reynolds/AFP via Getty Images

Most CEOs are confident about the future of the economy and their own company

Oct 5, 2023
But fewer CEOs feel confident of their firm’s fortunes than last year, a KPMG survey shows. More execs also want people back in the office.
Last year, 95% of CEOs said they were confident about their own company’s growth prospects. This year, it's 79%. Still high, but a big drop.
asbe/Getty Images