CNBC Economy

U.S. consumer spending appeared to slow in August as extended unemployment benefits were cut for millions of Americans.

With no major move in mortgage rates, there was no sudden incentive to refinance a home loan last week, so fewer people did.

Going forward, the OECD expects the global economy to grow by 5% in 2021.

The Federal Open Market Committee will provide its quarterly update on where it sees GDP, unemployment and inflation heading.

The Fed will likely keep interest rates at near zero until February 2023, according to latest CNBC Fed Survey.

U.S. import prices increased more than expected in August and gains in the prior month were revised sharply higher, supporting views that inflation pressures were building up.

More than one-third of the American workforce freelance amid the Covid-19 pandemic, contributing $1.2 trillion to the U.S. economy, a study by Upwork revealed Tuesday.

U.S. consumer prices increased solidly in August, but labor market slack is likely to keep a lid on inflation as the economy recovers from the Covid-19 recession.

Goldman economists said third quarter GDP growth is tracking at 35%, driven in large part by the surprising strength of consumer spending.

On the budget deficit, he said the federal government's spending imbalance is "getting out of hand."

First-time filings for unemployment claims had been expected to total 850,000 last week, according to economists surveyed by Dow Jones.

U.S. producer prices rose a bit more than expected in August as the cost of services increased solidly, while underlying producer inflation continued to firm.

Job openings rose 10% in July to a pandemic high though the rate of hiring saw a sharp slump, according to a Labor Department report Wednesday.

The official unemployment rate fell to 8.4% in August. But the true jobless figure is likely much higher, perhaps remaining at a level higher than any other period since the Great Depression, according to economists.

Worries of a K-shaped recovery are growing in the alphabet-obsessed economics profession. That would entail continued growth, but split sharply between industries and economic groups. 

The unemployment rate was by far the lowest since the coronavirus shutdown in March, according to Labor Department figures released Friday.

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

Certain often-overlooked markets may be telling us that the Fed's new policy framework is going to have some unintended consequences.

"Yes, some people are not able to go back to work. ... But there are others that are not willing to do so," the chief economic advisor at Allianz told CNBC.

Executive orders are a powerful tool when presidents can't agree with Congress. But that power is limited, especially when it comes to spending. After all, Congress holds the purse strings. Still, when pressure is mounting, presidents throughout history have used executive orders in hopes of trying to achieve their agenda.