Martin Puddy | Digitalvision | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The wealth of the top 1% hit a record $44.6 trillion at the end of the … Read more
The steel frame of the Francis Scott Key Bridge sits on top of a container ship after it struck the bridge in Baltimore, Maryland, on March 26, 2024. Roberto Schmidt | AFP | Getty Images The collapse of Baltimore’s Francis Scott Key Bridge was a maritime disaster but not an economic crisis, experts said Tuesday. … Read more
As the climate crisis continues to pose a global threat, top economists are debating its effect on the U.S. economy. Mark Zandi, chief economist at Moody’s Analytics, projects “physical risks” will be the biggest economic cost over the next 10 to 20 years. These are damages caused by natural disasters, which are now occurring at … Read more
Thomas Barwick | Stone | Getty Images Inflation has been falling gradually across the U.S. economy. This process, known as disinflation, means prices for consumer goods and services are rising but at a slower pace than they had been. However, inflation has actually turned negative in some sectors, like energy. Deflation, as this dynamic is … Read more
As artificial intelligence advances, it poses an even bigger threat to all kinds of workers. Former Secretary of Labor Robert Reich warns that AI will not just displace manufacturing jobs, but also workers in the knowledge economy. Reich also predicts AI will be able to perform many professional jobs at least as well as humans … Read more
Customers at a pop-up shop at a Forever-21 store in New York’s Times Square on Nov. 10, 2023. Bloomberg | Bloomberg | Getty Images Inflation continued its broad moderation in October, down significantly from pandemic-era highs that hadn’t been seen in more than 40 years. This dynamic — whereby prices for consumer goods and services … Read more