Financial News Network

Fed's Barkin backs tapering plans and expresses concern about inflation

Richmond Fed President Thomas Barkin said he's on board with reducing the amount of economic help the central bank is providing.

Read more: https://www.cnbc.com/2021/10/15/feds-barkin-backs-tapering-plans-and-expresses-concern-about-inflation.html

Retail sales unexpectedly rise in September as consumers keep spending

Consumers spent at a much faster pace than expected in September, defying expectations for a pullback amid pervasive supply chain problems.

Read more: https://www.cnbc.com/2021/10/15/retail-sales-unexpectedly-gain-in-september-as-consumers-keep-spending.html

Jobless claims fall below 300,000 for the first time since the pandemic began

Initial claims for unemployment insurance for the week ended Oct. 9 were expected to total 318,000.

Read more: https://www.cnbc.com/2021/10/14/us-jobless-claims-total-293000-vs-318000-estimate.html

Fed says it could begin 'gradual tapering process' by mid-November

The Federal Open Market Committee on Wednesday released minutes from its Sept. 21-22 policy meeting.

Read more: https://www.cnbc.com/2021/10/13/federal-reserve-releases-minutes-from-its-september-policy-meeting.html

Consumer prices rise more than expected as energy costs surge

The consumer price index was expected to rise 0.3% in September and 5.3% on a year over year basis, according to economists surveyed by Dow Jones.

Read more: https://www.cnbc.com/2021/10/13/the-consumer-price-index-rose-5point4percent-year-over-year-in-september-vs-5point3percent-estimate.html

Weekly mortgage demand stalls, as rates jump to highest level since June

Mortgage rates continued their trudge higher last week, leaving most homeowners with little to no incentive to refinance.

Read more: https://www.cnbc.com/2021/10/13/weekly-mortgage-demand-stalls-as-rates-jump-to-highest-level-since-june.html

A record 4.3 million workers quit their jobs in August, led by food and retail industries

Job openings declined sharply in August while hiring also fell and the level of workers quitting their jobs hit the highest level since at least late 2000.

Read more: https://www.cnbc.com/2021/10/12/a-record-4point3-million-workers-quit-their-jobs-in-august-led-by-food-and-retail-industries.html

Fed Governor Lael Brainard is in line for a key banking position. Here's what it could mean for Wall Street

Fed Governor Lael Brainard should figure prominently as President Joe Biden weighs who will chair the central bank and who will specifically supervise banks.

Read more: https://www.cnbc.com/2021/10/07/feds-brainard-in-line-for-key-banking-post-what-it-means-for-wall-street.html