Housing starts and permits came in much stronger than expected in May as the housing market continued to improve off its low in 2022. The upside surprise raises our forecast for gross domestic product in the second quarter from a 1.5% increase to 1.8%. There were 1.6 million new housing ... READ MORE >
Federal
FOMC preview: Fed positions for rate cut later this year
The Federal Reserve is on the precipice of a major shift in policy as the economy, hiring and wages slow amid a backdrop of muted inflation. As risks to the economy proliferate, the central bank is well-positioned to await the outcome of the G20 meeting later this month, which may determine future ... READ MORE >