The University of Michigan's consumer sentiment index dropped unexpectedly in November to the lowest level since May as inflation concerns mounted. But the market and the Federal Reserve should be able to look through those surprises that were largely a short-lived reaction to elevated gasoline ... READ MORE >
Inflation
U.S. October jobs report: Moderation in hiring as wage gains outpace inflation
Hiring in the American economy moderated in October, pointing to a cooler pace of growth and inflation that is a much-needed elixir following the torrid pace of hiring and expansion of recent months. The economy added 150,000 jobs in October with the unemployment rate at 3.9%, the Bureau of Labor ... READ MORE >
Spending stayed robust in September as inflation steadied
The U.S. economy maintained its momentum in September with personal spending that was stronger than forecasted. But even with the booming consumer demand, inflation ticked up only slightly, driven largely by energy and travel service prices. Spending rose by 0.7% on the month, while the personal ... READ MORE >
Bank of Canada holds at 5% as growth outlook softens
The Bank of Canada held its overnight rate at 5% on Wednesday and will continue its policy of quantitative tightening, moves that were widely expected given the projected weaker growth at home and abroad this year and into next year. Weakened growth globally dampens economic activities in Canada as ... READ MORE >
Consumer price index: Volatility in energy and gas makes price stability elusive
Volatility in energy and gasoline prices, along with stubborn housing and rent costs, were the major drivers of inflation in the September consumer price index. Both illustrate the difficulties in restoring price stability, and given growing risks to oil prices linked to the outbreak of hostilities ... READ MORE >
Producer inflation rose more than forecast in September
September's producer inflation topped forecasts as energy prices continued to rise. The data continued to suggest that strong economic activity carried over from the summer, in line with our forecast of a 3.1% growth in gross domestic product for the third quarter. Looking ahead, though, as economic ... READ MORE >
Initial jobless claims tick up in a still-tight labor market
Initial claims inched up last week as the impact of the United Auto Workers strike remained muted. New filings increased by 2,000 to 207,000 for the week ending Sept. 30, lower than the median forecasts of 210,000, according to Labor Department data released Thursday. That continued to suggest a ... READ MORE >
American consumers remain resilient as shutdown looms
Despite a rise in overall inflation because of higher oil prices, core inflation and spending volume were softer in August, adding to the optimism projected by the Federal Reserve recently that the economy can achieve a soft landing. The personal consumption expenditures price index—the Fed's preferred ... READ MORE >
FOMC policy decision: No rate hike as Fed implies soft landing
The Federal Reserve maintained its policy rate in a range between 5.25% and 5.5% on Wednesday while revisions to its Summary of Economic Projections strongly imply that the central bank no longer expects a recession, which it did just six months ago, and is increasingly confident of a soft landing in the ... READ MORE >
Canada inflation surges 4%, exceeding forecasts
Inflation in Canada spiked far more than forecast in August, raising the prospect of another interest rate increase by the Bank of Canada. Even though inflation was expected to increase because of rising gas prices, higher rents and comparisons to the moderate levels of a year ago, the 4% ... READ MORE >