CNBC Economy

The first rate hike by the Federal Reserve could be brought forward from around 2024-2025 to 2023-2024, said Jim Caron, a fixed income portfolio manager at Morgan Stanley Investment Management.

The nation's homebuilders are seeing no fall chill in demand from buyers, and that has the industry more confident than ever.

First-time claims for unemployment benefits totaled 840,000 last week, higher than the 825,000 Wall Street estimate.

The central bank official said he expects defaults and bankruptcies to hit that will make the unemployment problem worse.

Morgan Stanley estimates that U.S. households have saved an extra $1.1 trillion as of August, compared to pre-pandemic levels.

The work-from-home economy is likely to continue long past the coronavirus pandemic — and it doesn't come without challenges. "If I were a company planning the future of my office," says Stanford economist Nicholas Bloom, "I’d be looking to the suburbs."

A recovery that has lived by stimulus could die by stimulus, or the lack thereof, as the impasse among Washington leaders hits a new phase.

The Federal Open Market Committee on Wednesday released minutes from its Sept. 15-16 meeting.

Mortgage rates moved even lower last week, after setting multiple record lows over the last several months. That caused more borrowers to call their lenders and apply for a refinance, but it did not motivate homebuyers quite as much. 

As the impasse in Washington intensifies, Kashkari told CNBC that workers, businesses and governments need more cash from Congress.

"It's going to be a much slower recovery and it's disappointing that we didn't get a package done," Mester told CNBC.

Powell called Tuesday for continued aggressive fiscal and monetary stimulus for an economic recovery that he said still has "a long way to go."

Federal Reserve Chairman Jerome Powell delivers his latest views on the economy Tuesday morning to a virtual gathering of the National Association for Business Economics. 

CNBC studied the net change in employment by industry for September based on data from the Labor Department.

Top business leaders say the global economy is facing its worst crisis in a hundred years, and "downside risks remain elevated" unless urgent reforms are enacted during the G-20 summit hosted by Saudi Arabia in November.

The Labor Department reported Friday that nonfarm payrolls increased by 661,000 in September. In normal times, that type of hiring pace would be considered a sign of a robust job market.

The unemployment rate was 7.9%, the Labor Department said Friday in the final jobs report before the November election.

As of Tuesday, roughly 3.6 million homeowners remain in pandemic-related forbearance plans, according to Black Knight, a mortgage technology and analytics firm.

First-time claims for unemployment benefits were expected to total 850,000 for the week ended Sept. 26, according to economists surveyed by Dow Jones.

Daly likened the rescue funding so far to a bridge that has helped growth recover somewhat but still needs to be extended.