We expect that the Federal Open Market Committee this week will lift the federal funds policy rate by 50 basis points to a range between 1.25% and 1.5%. … READ MORE >
Federal Reserve
Chart of the day: Consumer sentiment drops to record low
The headline consumer sentiment index from the University of Michigan dropped to 50.2, the lowest on record. … READ MORE >
U.S. May CPI: Inflation continues to broaden out on higher gas and housing costs
Inflation continued to broaden out across the American economy in May, rising by 8.6% annually and underscoring the urgency among central bankers to restore price stability. … READ MORE >
Initial jobless claims rise to above pre-pandemic level
New claims for jobless benefits increased by 27,000 to 229,000 for the week ending June 4, from an upwardly revised 202,000 in the prior week. … READ MORE >
Chart of the day: Jobless claims fall amid tight labor market
Initial jobless claims fell by 5.2% last week to 200,000, a continuing reflection of the tight the labor market as layoffs remain near a multidecade low, according to government data released Thursday. … READ MORE >
Chart of the day: Job openings remain near record high
U.S. job openings fell 3.8% to 11.4 million in April amid economic moderation and monetary policy tightening. … READ MORE >
Personal spending and trade improved in April as inflation eased
American consumers continued to spend more in April as inflation showed signs of relief. The combination of higher incomes, excess savings and lower energy prices helped to alleviate some of the recent recession concerns. … READ MORE >
RSM US Financial Conditions Index: Risk aversion returns
The RSM US Financial Conditions Index is now more than 1.20 standard deviations below normal as losses in the equity market pile up, volatility increases and credit spreads widen in the bond market. … READ MORE >
Initial jobless claims rise to 16-week high
Initial filings for jobless benefits last week reached 218,000—the average level in 2019—from a downwardly revised 197,000 in the prior week. … READ MORE >
U.S. April Consumer Price Index: Peak inflation provides no solace
About the best one can say about the April inflation report is that year-over-year metrics appear to have topped while core inflation increased. … READ MORE >