The combination of monetary policy tightening and geopolitical pressures on energy prices and demand has taken its toll on the U.S. manufacturing sector. … READ MORE >
Economics
Consumer confidence falls to six-month low
The top-line confidence level fell to 102.3 from an upwardly revised 103.7, the Conference Board reported on Tuesday. … READ MORE >
The debt ceiling agreement and the financial health of the U.S.
The agreement’s impact on economic growth will most likely be negligible and will bring modest growth in overall spending over the next two years. … READ MORE >
Jobless claims edge up but fraud spurs big downward revisions
New filings for jobless benefits increased slightly by 4,000 last week, but the more noteworthy change was a significant downward revision in the previous two reports from the Labor Department. … READ MORE >
Fitch puts U.S. on ratings watch negative
It is time for the Federal Reserve to act pre-emptively to ensure well-functioning financial markets and signal to global market participants that the bond rating on U.S. Treasuries will remain unchanged. … READ MORE >
RSM US Financial Conditions Index: Debt ceiling standoff to cause volatility
As of Friday, our composite RSM US Financial Conditions Index remained at 0.9 standard deviations below neutral, corresponding to higher levels of risk than would normally be priced into securities. … READ MORE >
Jobless claims drop as fraud claims are resolved
New filings for jobless benefits fell last week to 242,000 from 264,000, a sharp 8.3% drop, in part because of the resolution of fraudulent claims in Massachusetts. … READ MORE >
About that recession: Resilience now, risks ahead
Despite elevated inflation and interest rates, as well as tightening financial conditions and softening demand for loans, the economy has chugged along, thanks in no small part to strong consumer spending. … READ MORE >
Consumer sentiment drops as inflation expectations rise
The report showed a marked increase in long-term inflation expectations for the next five to 10 years, rising to 3.2% from 3.0% to reach the highest level since 2011. … READ MORE >
Jobless claims and producer inflation show mixed results
Initial jobless claims rose by 9.1% last week to 264,000, the most since 2021 as producer prices rebounded in April, largely because of comparisons to the surging prices a year ago. … READ MORE >