The past year has had significant volatility in financial markets, with dramatic shifts in the 10-year yield and multiple resets in market expectations for interest rate paths. … READ MORE >
U.S. consumer sentiment plunges on rising inflation
Inflation expectations rose sharply to 3.5% from 3.2% for the next 12 months while longer-term expectations inched up to 3.1% from 3.0%. … READ MORE >
Initial jobless claims rise to the highest level since August
Our preferred metric of new claims—the 13-week moving average—rose slightly to 211,000, still below the pre-pandemic level. … READ MORE >
Senior Loan Officer Survey: Progress halts as inflation rebounds in Q1
Progress toward normalized lending practices generally halted in the first quarter as the Federal Reserve turned more hawkish amid the rebound in inflation, according to data in a Fed report announced on Monday. … READ MORE >
Labor data shows economic strength as inflation concerns linger
Despite a slowdown in productivity and rising labor unit costs, the economy continues to show strength with initial jobless claims staying near recent lows and factory orders posting solid growth. … READ MORE >
Fed holds rates steady as rebound in inflation hampers progress
Citing a lack of progress in reducing inflation, the Federal Reserve kept its policy rate unchanged at 5.5% at its meeting on Wednesday, the same rate it has had since July. … READ MORE >
Job openings fall to a three-year low as manufacturing softens
Job openings in March plunged to 8.49 million, the lowest level in three years, according to the Bureau of Labor Statistics on Wednesday. … READ MORE >
Labor costs rise, complicating Fed’s decision on rate cuts
The employment cost index rose by 1.2% in the first quarter, up from 0.9% previously, while the year-over-year growth stayed elevated at 4.2%. … READ MORE >
American consumers continue to spend despite sticky inflation
Spending remained strong in March on the heels of robust income growth despite sticky inflation, according to Commerce Department released on Friday. … READ MORE >
Business equipment spending grows in March
The core capital goods shipments rose by 0.2% on a monthly basis, bringing the three-month moving average annualized pace to 2.0%. … READ MORE >