Fed 'behind the curve' on inflation, says former Obama economist Jason Furman

The Fed is about to hike interest rates once again tomorrow. But the market is already betting they'll be doing rate cuts before too long. In fact, the reason why stocks are down this morning and yields are up is because of "fears of a hawkish Powell" at the Fed's press conference tomorrow, as Andrew Brenner at Natalliance observed this morning. The market knows two things right now: one, that Powell won't back down from more rate hikes, because he's afraid of repeating the sins of central bankers past. And two, that he will nevertheless be forced to, because the economy is slowing sharply and several recession indicators have already peaked.

The Federal Reserve is widely expected to hike rates by a smaller one-quarter of a percentage point at this week's policy meeting as inflation starts to ease. Still, another interest rate increase will make borrowing more expensive. Here's what that means for your wallet. The Federal Reserve is widely expected...

Another round of weak data this morning. The economy may well be contracting right now--which makes sense, given that it got over-inflated after all the Covid stimulus. We'll probably only call it a "recession," technically speaking, once the labor market rolls over, though. So let's back up. Keep in mind...

The dollar firmed on Monday and distanced itself from an eight-month trough ahead of a slew of central bank meetings this week, including the Federal Reserve's, with traders keenly focused on guidance for the path of interest rate rises. However, it remained on track for a fourth straight monthly loss...

U.S. Treasury yields climbed Monday as investors awaited the start of the Federal Reserve's first meeting of the year on Tuesday and considered the outlook for the economy. The yield on the benchmark 10-year Treasury was up more than two basis points to 3.546%. The. yield was trading over five...

"He is obsessed with retaking Ukraine," former Secretary Gates said of Putin, who launched the war in Ukraine last February. "He will hang in there."

A top Russian diplomat warned the U.S. in July 2022 against proceeding with efforts to bring the country before an international war court. 'Wrath Of God:' Dmitry Medvedev, the deputy secretary of Russia's Security Council, said the U.S. may have to face the "wrath of God" if it helps set up an international tribunal to investigate Russia's action in Ukraine, the Associated Press reported.

To help close the racial wealth gap, the U.S. government should pay $14 trillion in reparations to Black Americans, according to William A. Darity and A. Kirsten Mullen, authors of "From Here to Equality: Reparations for Black Americans in the Twenty-First Century." In an interview with CNBC, Darity, a Duke...

Political consequences for Democrats. A historic rise in delinquencies. Here's what experts predict will happen if the Supreme Court rules against Biden's student loan forgiveness plan and the relief never materializes. It's possible that the U.S. Supreme Court will strike down the Biden administration's student loan forgiveness plan, leading to...

Donald Trump said World War III could involve nuclear weapons and World War I and World War II would look like small battles, by comparison.

Jim Cramer and Jeff Marks break down why this week will be crucial for the markets with a full slate of earnings reports and Wednesday's Federal Reserve's rate decision looming. Jim says there are signs inflation is coming down, but cautions there are several stocks you will want to own in case the economy falters.

One-third of couples don't talk about finances until after marriage, according to a recent survey of 1,000 adults by Western & Southern Financial Group. This is especially alarming because, as it turns out, people do have financial deal breakers when it comes to seeing someone as a potential partner. When...

China saw one of its slowest years of economic growth in decades in 2022. Within a retail sales slump of 0.2% to 43.97 trillion yuan ($6.28 trillion), catering sales dropped by a steeper 6.3%. During the seven-day Lunar New Year holiday that ended Friday, national tourism revenue surged by 30%...

despite looking at a down open, have ripped higher this year as a new, broader bull market emerges. I wrote a eulogy to FANG in my weekly column. Created 10 years ago as the place to be. This market seems to be casting a much wider net. That means more money for the rest of the 500 companies in the S&P.

WASHINGTON — The U.S. House of Representatives passed a bill Friday aimed at limiting the president's ability to draw down the nation's Strategic Petroleum Reserve for any reason other than a "severe energy supply disruption." The law is meant to prevent a repeat of President Joe Biden's numerous withdrawals...

CNBC's Jim Cramer on Friday said that Wall Street's recent gains could continue next week depending on the Federal Reserve's actions. "A decision not to raise rates at all might show too much weakness. A quarter-point with a statement that they'll remain vigilant will allow the bulls to party on," he said.

Andrew Graham, founder and managing partner of Jackson Square Capital. There is pent-up post-pandemic demand for medical technology, which bodes well for the sector's stocks, says Andrew Graham, founder and managing partner of Jackson Square Capital. Investors should also watch the alternative energy field, as more governments commit funds. The...

British Prime Minister Rishi Sunak fired the Conservative Party chair Nadhim Zahawi from government on Sunday after an investigation into his tax affairs found a serious breach of the ministerial code. Sunak had ordered independent adviser to investigate questions over the tax affairs of Zahawi, who was briefly finance minister...

For more than three decades, Bob Bauer and Anita Dunn have climbed to the summit of Washington power. Bauer, the personal lawyer to President Joe Biden who served as White House counsel under President Barack Obama, is the godfather of Democratic election lawyers. Dunn, an adviser to Biden in the White House who was communications director under Obama, is the city's grand dame of public relations.

Gold prices edged up on Monday on a weaker dollar, as investor attention moved to several central bank meetings this week for more clarity on their rate hike strategies, with the key focus on the U.S. Federal Reserve. Spot gold gained 0.1% to $1,928.36 per ounce. "Gold is easing away...