Job openings in the United States fell for the third straight month in June as the labor market started to loosen up, the Bureau of Labor Statistics reported on Tuesday. Job openings—which represent labor demand—have been the main target of the Federal Reserve to lessen the second-round impact on wage-pushed inflation. … READ MORE >
inflation
Have we entered a “goods-cession” or goods fatigue?
While inflation is certainly a factor in consumer spending habits, goods fatigue is likely another. … READ MORE >
American spending and income eroded by multi-decade high inflation
As the first-round effect of inflation on goods and services continues to play out, the second-round effect on wage pressure is showing more concerning signs. … READ MORE >
FOMC policy decision: Fed hikes policy rate by 75 basis points
At this critical juncture, with the policy rate residing in neutral terrain, it is natural for the Fed to adjust its rhetoric as it considers next steps. … READ MORE >
Monetary policy tightening, the bond market and the business cycle
Economic shocks including inflation, interest rate increases and energy market turmoil are hitting the global economy and showing up in fixed income markets. … READ MORE >
Consumer confidence drops as new home sales slump
Consumer confidence continued to fall in July to the lowest level since February 2021 amid inflation angst and an economic slowdown. Sales of new homes fell by 8.1% in June. … READ MORE >
Wholesale gas futures point to drop below $4 a gallon
Wholesale gasoline futures imply that the average price per gallon of gas, which stands at $4.44, will most likely fall below $4 per gallon by the end of the summer. … READ MORE >
Latest jobless claims and producer inflation show upside surprises
New filings for jobless benefits last week rose by 3.8% to 244,000 while producer inflation rose by a surprisingly strong 1.1% in June. … READ MORE >
U.S. June CPI: Persistent top-line inflation hits 9.1%
The top-line inflation rate hit 9.1% in June on the back of a 11.2% increase in gasoline prices and a 7.5% jump in overall energy prices … READ MORE >
Chart of the day: Service sector grows at slowest pace in two years
The ISM service index inched down to 55.3 in June, the slowest level of growth in more than two years since May 2020, when it was at 45.2. … READ MORE >