As President Donald Trump struggles to address Americans’ growing affordability concerns, he has gotten some sympathy from one of former President Barack Obama’s former top economists. Jason Furman, Harvard Kennedy School of Government professor and former chair of the Council of Economic Advisers under Obama, told CNBC’s “Squawk Box” on Wednesday pessimistic consumers have overlooked…
The U.S. economy grew at a 4.3% annual rate in the third quarter, blowing past economists’ expectations and delivering the kind of headline that signals strength heading into the new year. Consumers went on an unusually strong spending tear while corporations cinched $166 billion in capital gains. President Donald Trump and his team wasted no…
In a letter to shareholders last year, JPMorgan CEO Jamie Dimon delivered an uncomfortable truth: AI “may reduce certain job categories or roles,” predicting labor ramifications similar to the printing press, steam engine, electricity, and internet. The tech became the primary suspect as JPMorgan, Goldman Sachs, and Morgan Stanely issued several rounds of layoffs in…
College graduates are stepping out of university and into an uncertain labor market—but the U.K.’s chief of defence says the government’s defence department is ready to employ them with open arms. While warning the nation of the escalating potential of conflict with Russia, Sir Richard Knighton stressed that the U.K.’s defence “cannot be outsourced to…
Today is like Christmas morning for markets: Will they be granted their wish for December, and have a final interest rate cut for the year delivered by Santa Jerome Powell? So far, the signs are pointing to yes. Investors priced in an 87.6% likelihood of a reduction from the Federal Open Market Committee (FOMC) this…