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. Markets largely expect the Fed has stopped raising rates and will start cutting in 2024. But Barkin said he’s not ready to commit …

Black Friday shoppers leave the Nike store as other shoppers wait in line to shop as retailers compete to attract shoppers and try to maintain margins on Black Friday, one of the busiest shopping days of the year, at Woodbury Common Premium Outlets in Central Valley, New York, U.S. November …

The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday. Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% …

Charlie Munger died on Nov. 28 at age 99. These reflections on his life and career, which he wrote for CNBC Make It, are among his final writings. One’s journey to career satisfaction is not always linear. After graduating from Harvard Law School, I joined a well-regarded firm in California. …

Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is seeking as many as two board seats in a push to improve the company’s performance, according to a Wednesday letter from the activist investor. Phillips 66’s stock rose more than 5% in early trading Wednesday. The …

Antonioguillem | Istock | Getty Images It has been a frustrating and confusing time for many student loan borrowers. President Joe Biden promised millions of Americans up to $20,000 in debt forgiveness, but then the Supreme Court blocked the program, and the relief never came. As payments restarted in October …

Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. Bloomberg | Bloomberg | Getty Images The influential Organization of Petroleum Exporting Countries and its allies, collectively known as OPEC+, convene to decide next production policy steps on Thursday, in a postponed virtual meeting overshadowed by conflict in the Middle …

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | AFP | Getty Images General Motors is working to regain Wall Street’s confidence leading into 2024 with several investor-focused initiatives …

Gary Cohn, vice chairman of International Business Machines Corp. (IBM), during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, Oct. 19, 2021. Kyle Grillot | Bloomberg | Getty Images The U.S. economy is “back to normal” for the first time in two decades, but the market …

A security guard at the New York Stock Exchange (NYSE) in New York, US, on Tuesday, March 28, 2023. Victor J. Blue | Bloomberg | Getty Images With central banks having hiked interest rates at breakneck speed and those rates likely to stay higher for longer while the lagged effects …