Sales increased by 3.0% on the month and by 2.3% if automobiles are excluded, according to the U.S. Census Bureau. … READ MORE >
inflation
Inflation grew faster in January, bolstering the case for more rate hikes
January’s Consumer Price Index increased by 0.5% on the month, rising from a 0.1% increase in December, and by 6.4% on a 12-month basis, the Bureau of Labor Statistics reported on Tuesday. … READ MORE >
Rising interest payments, deficits and the debt ceiling crisis
The mounting stand-off over raising the federal government’s debt ceiling has put a renewed focus on the rising cost of financing the nation’s debt. … READ MORE >
Jobless claims rise, but remain below pre-pandemic level
New filings for unemployment benefits increased by 7.1% to 196,000 for the week ending Feb. 4, the Labor Department reported on Thursday. … READ MORE >
Fed hikes rates by 25 basis points as it approaches peak
The central bank hiked its policy rate by 25 basis points to a range between 4.5% and 4.75%, its eighth straight increase, though lower than the recent increases. … READ MORE >
Job openings rise again in December, adding to pressure on the Fed
The number of job vacancies jumped to 11 million in December from 10.4 million. … READ MORE >
Labor costs slow, setting the stage for smaller Fed rate hike
The index showed that labor cost growth fell to 1.0% on a quarterly basis, and to 5.1% on a year-ago basis for all workers, according to the Bureau of Labor Statistics’ Employment Cost Index released on Tuesday. … READ MORE >
American consumers grow more cautious as spending falls
Personal spending fell by 0.2% in dollar terms in December and by 0.3% after adjusting for inflation, which rose by 0.1% on the month. … READ MORE >
Initial jobless claims fall despite layoff news
New filings for unemployment benefits fell to 186,000 last week, a 10-month low. … READ MORE >
U.S. GDP: Resilient growth closes out a challenging year
A resilient American economy grew by 2.9% during the final three months of last year because of a strong increase in demand for services by consumers, fixed business investment and inventory restocking. … READ MORE >