New home sales fell below estimates in April as mortgage rates surged to above 7%, the Census Bureau reported on Thursday. … READ MORE >
Inflation
Canada’s inflation fell to 2.7%, bolstering case for June rate cut
Headline inflation fell to 2.7 per cent, within the 1 per cent to 3 per cent range for the fourth month in a row and the lowest since early 2021. … READ MORE >
Forecasts show softer April PCE inflation
We think the top-line PCE inflation will most likely come in at 0.25% for April, down from 0.30% in March, while the core index will slow to 0.26% from 0.30%. … READ MORE >
CPI resumes disinflationary trend in April amid weakened retail sales
Overall CPI inflation rose by 0.3% in April, while core inflation—which excludes food and energy—also rose by 0.3%. This helped bring the year-over-year headline inflation down to 3.4% and core inflation to 3.6%. … READ MORE >
Producer price offers mixed result ahead of CPI release
The producer price index increased by 0.5% in April, above estimates, as both goods and service prices accelerated, according to Bureau of Labor Statistics data released on Tuesday. … READ MORE >
Intervening in foreign exchange markets: The poverty of dollar devaluation
We think intervening to devalue the dollar would be folly. In the end, the result would be upward pressure on prices, reduced demand and, ultimately, a slowing economy. … 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 >
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 >
Bank of Canada holds its rate at 5% in dovish statement
The Bank of Canada has signaled that it is ready to take the foot off the brakes in June as long as job and inflation numbers progress as expected. … READ MORE >
Hot inflation data dims prospects for a Fed rate cut in June
The year-ago consumer price index rose to 3.5% from 3.2% for overall inflation and stalled at 3.8% for the core inflation reading. … READ MORE >