Derek Saul is a New Jersey-based Senior Reporter on Forbes' news team. He graduated in 2021 from Duke University, where he majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper, joining Forbes soon thereafter. Saul has covered everything from Trump Media to the Saudi Arabian influence on golf and what real-life billionaires think of "Succession." Send tips to dsaul@forbes.com. Follow Saul for analysis on the biggest daily economic and stock market happenings, ranging from inflation data to tech earnings to deep-dives on hot button assets. Forbes reporters follow company ethical guidelines that ensure the highest quality.
Inflation was hotter than expected last month and remains well above the Federal Reserve’s 2% target, according to government data released Friday, as eagerly awaited interest rate cuts seem to be increasingly less likely in the future.
JPMorgan Chase CEO Jamie Dimon warned of the potential for interest rates to climb as high as 8% as the effects of the unprecedented monetary policy to combat inflation take hold.
Continue Reading...Unemployment rate spikes to 2-year high - The labor market showed some rare signs of weakness in February, as the unemployment rate unexpectedly rose to its highest level since 2022.
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