CNBC Economy

The sea of red ink is hemorrhaging in Washington, with the federal government already racking up a budget deficit that is averaging close to $100 billion a month.

Rising mortgage and credit card balances fueled the biggest increase in household debt since 2007.

With unemployment remaining around a 50-year low, the labor market tightened again as 2019 came to a close.

In his semiannual testimony before Congress, Powell said the new threat comes just as trade uncertainties have diminished, though the U.S. economy appears "resilient" to global headwinds.

Federal Reserve Chairman Jerome Powell heads to Capitol Hill on Tuesday at a touchy juncture.

A CNBC survey of 11 forecasters over the weekend finds first quarter GDP estimates averaging just 1.2%, down nearly a point from the fourth quarter.

U.S. worker productivity rebounded in the fourth quarter, keeping labor costs in check.

First-time claims for state unemployment benefits were expected to total 215,000 for the most recent week, down slightly from the 216,000 claims reported for the previous week.

ADP/Moody's Analytics said private payrolls rose by 291,000 in January, nearly twice the expected gains.

San Francisco Fed President Mary Daly said she believes last year's rate cuts put the U.S. economy in a strong position to deal with external headwinds.

Using a scientific method initially developed to measure human skulls, researchers from MIT and State Street say there's a 70% of recession in the next 6 months.

Homeowners rushed to take advantage of the sharp drop in interest rates last week. Refinance demand pushed total mortgage application volume up 5% for the week to the highest level since 2013, according to the Mortgage Bankers Association.

Industries reported increases in new orders, suggesting the economy could continue to grow moderately this year even as consumer spending is slowing.

The spread of the coronavirus could lead global central banks including the Federal Reserve to leverage their policies to stem the weakness, says Benn Steil, international director of economics at the Council on Foreign Relations.

The U.S. trade deficit fell for the first time in six years in 2019 as the White House's trade war with China curbed the import bill, keeping the economy on a moderate growth path despite a slowdown in consumer spending and weak business investment.

China's virus outbreak has prompted traders to begin pricing in a U.S. interest rate cut by June but has not swayed the views of Atlanta Federal Reserve Bank President Raphael Bostic, one of 17 Fed officials who set U.S. monetary policy.

"The fact is, it does give businesses another thing to consider when they go through their review of their supply chain," Trump Commerce Secretary Wilbur Ross said of the deadly coronavirus.

The ISM reading came in at the highest level since July.

Claims data for the prior week was revised to show 12,000 more applications received than previously reported.

The 2.3% growth in U.S. gross domestic product for the full year well below the White House's projections following the 2017 tax revamp.