CNBC Economy

Americans are expected to spend a record amount on school supplies this year. They're feeling sticker shock as inflation continues to push up prices.

Nonfarm payrolls were expected to increase by 200,000 in July, according to the Dow Jones consensus estimate.

The jobless rate for Black workers fell to 5.8% in July, Labor Department data showed Friday.

The health care and social assistance category grew by 87,100 jobs last month, continuing a hot streak.

Wall Street expects that nonfarm payrolls increased by 200,000 in July, the smallest gain since December 2020

"It does not take a grand sovereign and analytics genius to understand that the fiscal profile of the U.S. is much worse than it has been," said Elliot Hentov.

Fitch Ratings' Richard Francis told CNBC that the rating agency would need to see a long-term fiscal solution and a reduction of its debt.

That total was well above the Dow Jones consensus estimate for 175,000, though it marked a decrease from the downwardly revised 455,000 in June.

Global stock markets tumbled on Wednesday after ratings agency Fitch downgraded the United States' long-term credit rating, but top economists say there is nothing to worry about.

Employment openings totaled 9.58 million for the month, edging lower from the downwardly revised 9.62 million in May.

The International Monetary Fund had dubbed Riyadh the fastest growing economy in the Group of 20 in 2022.

The Bank of Japan loosened its yield curve control in an unexpected move with ramifications across global financial markets.

Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely.

The central bank did not share any forward guidance about its next moves, but did raise the possibility of a potential pause in rate hikes in September.

Gross domestic product was expected to increase at a 2% annualized pace in the second quarter.

Turkey's central bank expects inflation to hit 58% by the end of 2023, its new governor Hafize Gaye Erkan said in her debut news conference Thursday.

The Chinese economy could be facing a period of lower growth, which may have global ramifications after 45 years of rapid expansion and globalization.

The system will be available 24 hours, seven days a week and is open to interested banks and credit unions.

U.K. inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually.

Michael S. Barr said AI technology has potential, but also can be used for nefarious means.