CNBC Economy

The move to get displaced workers back to their jobs slowed sharply in July, with private payrolls increasing by just 167,000, ADP reported Wednesday.

Investors are keeping a close eye on a surge in the U.S. money supply for signs of inflation's long-awaited return.

Mester called Wednesday for more help from Congress and said the central bank stands at the ready to provide whatever resources it can to help an economy at risk from rising coronavirus cases.

The central bank's director of bank supervision said he hasn't changed his forecast despite a swell in Covid-19 cases that has caused a general slowing in resumption of activities

Home prices in June saw their strongest monthly rise in seven years, spurred on by strong buyer demand and record low mortgage rates. Forecasters, however, say the gains will start to moderate soon, and prices could end up slightly lower by June 2021.

Spiking coronavirus cases and rollbacks of reopenings in multiple states present roadblocks to continued aggressive gains in jobs.

Michelle Meyer, head of U.S. economics at Bank of America, said the U.S. economy has entered the third phase of the coronavirus pandemic after the lockdown and transition phases when businesses shut down and then started to reopen.

U.S. consumer spending increased for the second straight month in June, setting up consumption for a rebound in the third quarter, though the recovery could be limited by a resurgence in Covid-19 cases and the end of expanded unemployment benefits.

Neither the Great Depression nor the Great Recession nor any other slump over the past two centuries have ever caused such a sharp drain on the economy.

Jobless claims for last week were roughly in line with expectations as the coronavirus pandemic continues to ravage the U.S. economy.

Federal Reserve Chairman Jerome Powell spoke to reporters following the central bank's July policymaking decision.

The Federal Open Market Committee released a statement following its two-day meeting that concluded Wednesday.

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting on June 10.

Pending home sales continued to climb in June, rising 16.6% monthly since May, and rising 6.3% since June 2019, according to the National Association of Realtors.

The United States' trade deficit in goods fell sharply in June as exports rebounded following several months of decline, suggesting a recovery in global trade after being severely disrupted by the Covid-19 pandemic.

Voters in key states back an unemployment extension, direct payments and state and local aid in the coronavirus bill, the CNBC/Change Research poll found.

Markets are watching the Fed but may focus more on what Congress is doing with its trillion dollar plus stimulus package.

Democrats and Republicans are parrying over what to do now that the current arrangement will expire Friday.

Originally set to expire Sept. 30, the myriad facilities, stretching from credit to small businesses up to the purchase of junk bonds now will stretch to Dec. 31.

CNBC's Rick Santelli breaks down the latest numbers on U.S. consumer sentiment.