Consumer spending in June recorded its smallest gain in four months as demand for automobiles softened, suggesting the economy lost some momentum.» Read More
New U.S. claims for unemployment benefits fell marginally last week, as consumer spending rose less than expected.
Economists have slashed growth forecasts for the second quarter on weaker consumer spending.
The Fed's "wildly accommodative" monetary policy risks triggering the next world financial crisis, market veteran Stephen Roach warned.
Joblessness will fall and inflation should rise, putting the U.S. economy closer to normal, a top Fed official said on Thursday.
The word "unexpectedly" for negative economic data has become a much-mocked cliché, but this week's first-quarter GDP number deserves an exception. The Fiscal Times reports.
States are still seeing low levels of job growth despite the recovery. A weak housing and manufacturing sector has stymied employment.
After 1Q GDP was revised to negative 2.9 percent, economists are changing their views on a robust rebound for the second quarter.
Moody's upgraded its rating on California's general obligation debt, citing the state's improving financial position and employment growth.
The U.S. economy contracted at a steeper pace than previously estimated in the first quarter as durable goods fell sharply.
The U.S. services sector expanded in June at the fastest pace in at least 4-1/2 years, pushed higher by increasing business activity, a survey showed.
The Fed can reasonably wait to raise interest rates until mid-2015 without risking an undesirable rise in inflation, an influential Fed policymaker said.
With immigration legislation stalled, a key U.S. Republican senator puts the odds of enacting reform this year as "close to zero."
The best way to keep government transportation coffers full without hurting future generations is to increase the gas tax, Sen. Bob Corker tells CNBC.
After a dive in volume two weeks ago, applications for mortgage refinances and home purchase loans were little changed last week, data show.
The Fed chief wants to see U.S. wages climb at a much brisker clip to boost spending and help workers recoup ground they lost in the last recession.
The Fed's forward guidance has been vague and the central bank should ensure its guidance on monetary policy is real, says a Nobel-winning economist.
The U.S. economy is approaching the Fed's economic targets faster than expected and might push the central bank to accelerate plans to increase interest rates, Philadelphia Federal Reserve Bank President Charles Plosser said on Tuesday.
U.S. consumer confidence rose to a six-year high of 85.2 in June, beating estimates of 83.5.
Sales of new U.S. single-family homes jumped to a six-year high in May, the latest indication the housing market was starting to dig out of a recent soft patch.
A key gauge of home price gains decelerated in April, but edged above analysts' expectations, a new report showed Tuesday.