Inflation remains below wage growth as real hourly wages increased by 1.1% on the month and on a year-ago basis. … READ MORE >
Job openings inch down as economy stays on track for a soft landing
Job openings cooled in back-to-back months to 8.86 million in January with December’s figure revised down to 8.89 million from 9.03 million previously, according to the Bureau of Labor Statistics. … READ MORE >
Service sector continues to grow in February
The service sector continued to grow in February for the 14th straight month, according to the Institute for Supply Management on Tuesday. … READ MORE >
Softer economic data helps ease inflation concerns
The softer data in manufacturing activities, construction spending and consumer sentiment at the beginning of the year should alleviate concerns regarding the rebound in inflation. … READ MORE >
January inflation and spending data implies more noise than trend
The Federal Reserve’s closely watched measure of inflation, the personal consumption expenditures index, continued to show strength in January, rising by 0.3% on the month and by 2.4% from a year ago. … READ MORE >
How real is the wealth effect in a bull market?
Using a back-of-the-envelope calculation, we estimate that the sharp rebound in equities last year contributed to an increase of roughly $900 billion in households’ stock wealth, or $288 billion in consumer spending. … READ MORE >
Softer economic data reaffirms prospect of a soft landing
Softer economic data reaffirms we are inching closer to a soft landing
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New home sales grew more slowly in January amid elevated mortgage rates
Sales of new homes grew 1.5% in January, much slower than the 7.2% increase in December, most likely because of elevated mortgage rates. … READ MORE >
Initial jobless claims fall to lowest in a month
New claims fell by 12,000 to 201,000 for the week ending Feb. 17, according to the Labor Department’s data on Thursday. … READ MORE >
Solow Residual: Total factor productivity and the U.S. economy
A recent study by the San Francisco Federal Reserve found that total factor productivity grew by a robust 4.99% on the most recent quarter after adjusting for factors such as labor, capital, utilization and worked hours. … READ MORE >