Economic data on housing, manufacturing and jobs released on Thursday pointed to softer-than-expected economic activity in the second quarter. … READ MORE >
Federal Reserve
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 >
Interest rate volatility: Why Fed policy guidance is less effective
The past year has had significant volatility in financial markets, with dramatic shifts in the 10-year yield and multiple resets in market expectations for interest rate paths. … READ MORE >
U.S. consumer sentiment plunges on rising inflation
Inflation expectations rose sharply to 3.5% from 3.2% for the next 12 months while longer-term expectations inched up to 3.1% from 3.0%. … READ MORE >
Initial jobless claims rise to the highest level since August
Our preferred metric of new claims—the 13-week moving average—rose slightly to 211,000, still below the pre-pandemic level. … 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 >
Job openings fall to a three-year low as manufacturing softens
Job openings in March plunged to 8.49 million, the lowest level in three years, according to the Bureau of Labor Statistics on Wednesday. … READ MORE >
Labor costs rise, complicating Fed’s decision on rate cuts
The employment cost index rose by 1.2% in the first quarter, up from 0.9% previously, while the year-over-year growth stayed elevated at 4.2%. … 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 >