Pending home sales in the United States fell by 2% in August, the third straight monthly decline amid a steep rise in mortgage rates. … READ MORE >
Federal Reserve
Fed raises its policy rate by 75 basis points and sees more increases
The Federal Reserve raised its policy rate by 75 basis points on Wednesday, the third straight increase of that size and a sign that it is continuing its aggressive push to tame inflation. … READ MORE >
Consumer sentiment rises to highest level since May
Consumer sentiment improved to 59.5 in September as inflation concerns eased, according to the University of Michigan’s index. … READ MORE >
The dollar’s reign will continue amid a global flight to safety
Several factors are fueling the dollar’s surge, including rising rate differentials, a global move to the dollar and escalating geopolitical tensions. … READ MORE >
U.S. August CPI: Core inflation arrives hot even as gas prices fall
Premature calls for the Fed to pause its campaign to tame inflation should be politely dismissed given the 0.1% increase in top-line inflation in August. … READ MORE >
Initial jobless claims drop to lowest level since May
The labor market showed continuing strength as last week’s new filings for jobless claims fell for the fourth week in a row. … READ MORE >
Falling gas prices imply further inflation relief
This recent decline in gas prices should put downward pressure on top-line monthly inflation when the consumer price index for August is released on Sept. 13. … READ MORE >
U.S. August jobs report: Another robust month as employment increases by 315,000
American labor market dynamics remain tilted toward sustained strength in hiring and rising wages. … READ MORE >
How high must unemployment rise to tame inflation?
To reduce inflation to acceptable levels, it will be necessary to destroy between 1.7 million and 5.3 million jobs. … READ MORE >
Powell at Jackson Hole: From era of abundance to one of insufficient supply
Federal Reserve Chairman Jerome Powell was blunt in his remarks at Jackson Hole, Wyo.: “Reducing inflation is likely to require a sustained period of below-trend growth.” … READ MORE >