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People carry shopping bags as they visit a department store during the holiday season in New York City. Eduardo Munoz | ReutersRetailers chalked up solid gains in the final month to wrap up the holiday season, according to the CNBC/NRF Retail Monitor for December. The Retail Monitor, which excludes autos and gas, rose 0.4% in December, down from a gain of 0.8% in November, when the holiday shopping season traditionally kicks off. For the year, the Retail Monitor increased by 3.1% and the core was up 2.4%. But last October and January surprised with stronger gains than either November or December, suggesting the full holiday shopping season could be longer than it has been traditionally.
Persons: Eduardo Munoz Organizations: Reuters Retailers, CNBC, NRF, Monitor, Retail Monitor, Retail, P Retail Locations: New York City, It's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets pricing in interest rate cuts for March is premature, says Nationwide's Kathy BostjancicKathy Bostjancic, Nationwide chief economist, and CNBC’s Steve Liesman join 'The Exchange' to discuss the interest rate outlook for 2024, the state of the labor market, and more.
Persons: Kathy Bostjancic Kathy Bostjancic, Steve Liesman Organizations: Nationwide
Fed's Beige Book sees slowing activity, easing price increases
  + stars: | 2023-11-29 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's Beige Book sees slowing activity, easing price increasesCNBC’s Steve Liesman joins 'Power Lunch' to discuss the key takeaways from the latest Beige Book report and how it compares with economic data.
Persons: Steve Liesman
Richmond Federal Reserve President Thomas Barkin said Wednesday that policymakers need to retain the option of raising interest rates if inflation doesn't show enough progress coming down. But Barkin said he's not ready to commit to a particular policy path with so much uncertainty in the air. "But if inflation is going to flare back up, I think you want to have the option of doing more on rates," Barkin added. The Fed's preferred inflation measure of core personal consumption expenditures showed a 12-month rate of 3.7% in September and is expected to show a slightly lower reading in October. However, Barkin called the possibility of easing policy "a forecasting question" that he's not ready to answer.
Persons: Thomas Barkin, Barkin, he's, CNBC's Steve Liesman, Christopher Waller, he'd, it's, Raphael Bostic, Bostic Organizations: Richmond Federal, CNBC, Commerce Department, Fed, Atlanta Fed, Market
Fed Governor Christopher Waller: Inflation is still too high
  + stars: | 2023-11-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Governor Christopher Waller: Inflation is still too highCNBC's Steve Liesman reports on news from the Federal Reserve.
Persons: Christopher Waller, Steve Liesman Organizations: Federal Reserve
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTreasury auctions in focus: Why they've taken on more influenceCNBC's Steve Liesman and Rick Santelli join 'Squawk Box' to discuss the importance of Treasury auctions.
Persons: Steve Liesman, Rick Santelli
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers are feeling the uncertainty of the economy, says The Conference Board's Steve OdlandSteve Odland, president and CEO of The Conference Board, and CNBC's Steve Liesman join 'The Exchange' to discuss the interest rate outlook, consumer confidence, and more.
Persons: Steve Odland Steve Odland, Steve Liesman Organizations: Conference Board
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPricing is starting to compress and demand is slowing, says Wells Fargo's Ike BoruchowIke Boruchow, Wells Fargo Securities senior analyst, and CNBC’s Steve Liesman join 'The Exchange' to discuss the state of the consumer, the impact of inflation on pricing, and more.
Persons: Wells, Ike Boruchow Ike Boruchow, Steve Liesman Organizations: Wells Fargo Securities Locations: Wells Fargo
Threads was a great place to get news on the OpenAI drama over the weekend. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Then, the biggest recent breaking news story in tech and business unfolded over the weekend with Sam Altman's shocking exit from OpenAI. It was the perfect test to see if Threads was up for a breaking news event. She also posted the same stuff to Threads, but as she pointed out — ironically — Threads doesn't "thread" posts properly, making a continuing story confusing to follow.
Persons: Meta execs, It's, , Instagram, Adam Mosseri, we're, Sam Altman's, Altman, Satya Nadella, Marissa Mayer, Kara Swisher, Swisher, Elon Musk, — Steve Liesman Organizations: Service, Meta, Twitter, Microsoft, Veteran, Elon, Disney, Apple Locations: OpenAI
Despite recent encouraging signs on inflation, Boston Federal Reserve President Susan Collins said Friday that more interest rate hikes could yet be needed. But I don't see additional firming off the table," the central bank official told CNBC's Steve Liesman during a "Squawk on the Street" interview. "I think the key point is we need to really stay the course." The central bank's benchmark borrowing rate is targeted in a range between 5.25%-5.5%, the highest in 22 years. Collins will not be a voting member on the rate-setting Federal Open Market Committee until 2025.
Persons: Susan Collins, CNBC's Steve Liesman, Collins Organizations: Boston Federal, Market Committee
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere could be a possible recession, says economist Christopher RupkeyGregory Daco, chief economist at EY-Parthenon, Christopher Rupkey, chief economist at FWDBONDS, and CNBC's Steve Liesman join 'The Exchange' to discuss the recent labor market data, whether a recession is looming, and more.
Persons: Christopher Rupkey Gregory Daco, Christopher Rupkey, Steve Liesman Locations: EY
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCleveland Fed President Loretta Mester: We're not going to react to just one data pointLoretta Mester, Cleveland Fed president, and CNBC’s Steve Liesman join 'The Exchange' to discuss the latest labor market data, the likelihood of a soft landing, and more.
Persons: Loretta Mester, We're, Steve Liesman Organizations: Cleveland, Cleveland Fed
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCleveland Fed President Loretta Mester: Monetary policy is in a good placeCNBC's Steve Liesman reports on news from the Federal Reserve.
Persons: Loretta Mester, Steve Liesman Organizations: Cleveland, Federal Reserve
"We're making progress on inflation, discernible progress. "We're going to have to see much more evidence that inflation is on that timely path back to 2%. But we do have really good evidence that it has made progress and now it's just, is it continuing?" Following the reports, market pricing in the futures market completely eliminated the possibility that the Fed would be approving any additional interest rate hikes. Comparing the Fed's position to navigating a ship, Mester said, "We're at the crow's nest.
Persons: Loretta Mester, Mester, CNBC's Steve Liesman, hasn't Organizations: Cleveland Federal, Labor Department Locations: midyear
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Governor Lisa Cook: A soft landing is possible but not assuredCNBC's Steve Liesman joins 'Halftime Report' to discuss the latest news on the Fed.
Persons: Lisa Cook, CNBC's Steve Liesman
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe deficit would still be wide even if rates went down, says CBO Director Phillip SwagelPhillip Swagel, Congressional Budget Office Director, and CNBC's Steve Liesman join 'The Exchange' to discuss the state of the deficit, its outlook, and more.
Persons: Phillip Swagel Phillip Swagel, Steve Liesman Organizations: Congressional
Watch CNBC's full interview with Bespoke's Paul Hickey
  + stars: | 2023-11-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Bespoke's Paul HickeyPaul Hickey, Bespoke Investment Group co-founder, joins CNBC's Steve Liesman and 'Closing Bell Overtime' to talk the day's market action and latest inflation data.
Persons: Bespoke's Paul Hickey Paul Hickey, Steve Liesman Organizations: Investment Group
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChicago Fed President Austan Goolsbee: Key to progress on inflation is housingCNBC's Steve Liesman joins 'Halftime Report' to discuss the latest news on the recent CPI report.
Persons: Austan Goolsbee, Steve Liesman Organizations: Chicago
This is not a unique CPI report, says Veritas' Greg Branch
  + stars: | 2023-11-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis is not a unique CPI report, says Veritas' Greg BranchGregory Branch, founder and managing partner at Veritas Financial Group, and CNBC's Steve Liesman join 'Power Lunch' to discuss the market's reaction to today's CPI report.
Persons: Greg Branch Gregory Branch, Steve Liesman Organizations: Veritas Financial Group, CPI
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed has overtightened, says UBS Global Wealth Management's Paul DonovanPaul Donovan, chief economist at UBS Global Wealth Management and CNBC's Steve Liesman join 'The Exchange' to discuss the latest CPI report, the outlook for rate hikes, and more.
Persons: UBS Global Wealth Management's Paul Donovan Paul Donovan, Steve Liesman Organizations: UBS Global Wealth, UBS Global Wealth Management
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAfter today the market is certain the Fed is done hiking rates, says Bespoke's Paul HickeyPaul Hickey, Bespoke Investment Group co-founder, joins CNBC's Steve Liesman and 'Closing Bell Overtime' to talk the day's market action and latest inflation data.
Persons: Bespoke's Paul Hickey Paul Hickey, Steve Liesman Organizations: Investment Group
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRetail sales and the economy: New data tracks strength of consumerCNBC's Steve Liesman reports on a joint project between CNBC, the National Retail Federation and Affinity Solutions to track consumer activity.
Persons: Steve Liesman Organizations: CNBC, National Retail Federation, Affinity Solutions
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew York Fed inflation expectations remain steady amid slowing earnings growthCNBC's Steve Liesman reports on the latest news from the New York Federal Reserve.
Persons: Steve Liesman Organizations: New, New York Federal Reserve
watch nowThe consumer took a spending break ahead of the holiday season, with October retail sales, excluding autos and gas, falling by 0.08%, and core retail, which also removes restaurants, declining by 0.03%, according to the new CNBC/NRF Retail Monitor. The new Retail Monitor, debuting Monday, is a joint product of CNBC and the National Retail Federation based on data from Affinity Solutions, a leading consumer purchase insights company. The data differs from the Census Bureau's retail sales report as it is the result of actual consumer purchases, while the Census relies on survey data. The government data is frequently revised as additional survey data becomes available. The CNBC/NRF Retail Monitor is not revised as it's calculated from actual transactions during the month.
Persons: Matthew Shay, Dan Colarusso Organizations: CNBC, NRF, Retail Monitor, National Retail Federation, Affinity Solutions, Affinity, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPolicy is in a good place and the economy is slowing, says San Francisco Fed President Mary DalyMary Daly, San Francisco Fed president, and CNBC’s Steve Liesman join 'The Exchange' to discuss interest rates, the forecast for inflation and more.
Persons: Mary Daly Mary Daly, Steve Liesman Organizations: San, Fed, San Francisco Fed Locations: San
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