Housing starts fell by 14.4% to 1.549 million on an annualized basis in May, the lowest point in more than a year. … READ MORE >
Blog
Initial jobless claims exceed pre-pandemic level for second straight week
There were 229,000 new jobless claims for the week ending June 11, down slightly from an upwardly revised 232,000 in the prior week. … READ MORE >
Travel industry, expecting busy summer, casts wary eye on inflation
This summer was supposed to be the season of revenge travel. But that was before a new risk emerged: stubborn, elevated inflation. … READ MORE >
Fed announces largest rate hike in nearly three decades as it seeks to restore price stability
The Federal Reserve lifted its federal funds policy rate to a range between 1.5% and 1.75% on Wednesday as it moves to restore price stability over the medium term. … READ MORE >
U.S. retail sales fall as inflation takes a toll
Retail sales dropped by 0.3% in May, a decline from a downwardly revised 0.7% increase in April, the U.S. Census Bureau reported on Wednesday. … READ MORE >
How lumber tells the story of home building during the pandemic
Large home builders operate with scale advantages, which have allowed them to endure wild swings in costs of inputs like lumber. It’s a different story for small and midsize builders. … READ MORE >
Chart of the day: U.S. producer inflation remained elevated
The report adds pressure on the Federal Reserve, which is considering more aggressive measures to tame inflation. … READ MORE >
Updated FOMC call: Fed to hike policy rate by 75 basis points
Based on movements inside the rate markets, quickly changing inflation expectations and a rattled investor class, we now expect the Federal Reserve on Wednesday to raise its policy rate by 75 basis points to a range between 1.25% and 1.50%. … READ MORE >
Bond market update: Inflation’s toll on returns, investment and growth
Inflation is now the most significant factor in investment decisions. Until the Federal Reserve creates the conditions approximating price stability, the economy will remain at risk. … READ MORE >
FOMC preview: 50-basis-point hikes through September
We expect that the Federal Open Market Committee this week will lift the federal funds policy rate by 50 basis points to a range between 1.25% and 1.5%. … READ MORE >