New claims for jobless benefits fell by 5.3% to 214,000, below the pre-pandemic average in 2019 as layoffs remain historically low. … READ MORE >
Federal Reserve
U.S. housing starts continue to fall amid rate hikes
New housing starts fell by 8.1% in September as the impact of rising mortgage rates worked through the housing market. … READ MORE >
End of an era? Bond market selloff prompts a new regime
The dramatic fiscal and monetary response to the pandemic has elicited a structural break in globalization, growth and liquidity regimes that have driven the world’s economies over the past 25 years. … READ MORE >
Consumer sentiment rises despite worsening inflation expectations
Consumer sentiment rose for the fifth straight month to 59.8 in October but a worsening inflation outlook clouded the otherwise positive news. … READ MORE >
As the U.S. dollar surges, the potential for a currency crisis grows
As central bankers and fiscal authorities seek to balance growth, inflation and financial stability, there is a growing possibility that we are walking into another financial crisis. … READ MORE >
Inflation remains hot, sticky and elevated, implying another supersized rate hike
Both top-line and core inflation remain hot, sticky and elevated, which implies another rate increase of 75 basis points at the Fed’s November meeting. … READ MORE >
Producer prices rebound, keeping pressure on Fed to raise rates
The producer price index rose by 0.4% in September after falling for two straight months, the Bureau of Labor Statistics reported on Wednesday. … READ MORE >
U.S. jobs report: Hiring slows as another 75-basis-point rate increase looms
The U.S. economy is proving far more resilient in the face of sustained pricing pressures than otherwise thought a short time ago. … READ MORE >
Job openings fall as rate hikes take effect
In a sign that the chronically tight labor market may be easing, job openings plunged in August amid a slowdown in overall demand. … READ MORE >
New jobless claims fall to lowest level since April amid tight labor market
New claims for unemployment benefits fell by a sharp 16,000 last week to 193,000 on a seasonally adjusted basis, the fewest since April. … READ MORE >