As household balance sheets have ballooned for older workers, many have retired. The implications are only now beginning to be understood. … READ MORE >
interest rates
Economy added 339,000 jobs in blowout May employment report
The unemployment rate increased to 3.7% as workers rejoined the labor force. … READ MORE >
About that recession: Resilience now, risks ahead
Despite elevated inflation and interest rates, as well as tightening financial conditions and softening demand for loans, the economy has chugged along, thanks in no small part to strong consumer spending. … READ MORE >
Retail sales rise as American consumers stay resilient
While the top-line number came out lower than expected, spending on retail goods continued to show an underlying strength in April. … READ MORE >
Consumer sentiment drops as inflation expectations rise
The report showed a marked increase in long-term inflation expectations for the next five to 10 years, rising to 3.2% from 3.0% to reach the highest level since 2011. … READ MORE >
Jobless claims and producer inflation show mixed results
Initial jobless claims rose by 9.1% last week to 264,000, the most since 2021 as producer prices rebounded in April, largely because of comparisons to the surging prices a year ago. … READ MORE >
Inflation remains sticky in April, rising by 4.9% over a year ago
April’s increase in the consumer price index was in line with RSM’s forecast of a 4.9% gain and the consensus estimate of 5%, and will most likely support the doves at the Federal Reserve who want to pause interest rate increases. … READ MORE >
Fed survey shows a notable decline in loan demand
Roughly 56% of loan officers noted a decline in demand for loans by large and middle market firms, while 53% reported a decline in credit demand by small firms, according to the Fed’s quarterly Senior Loan Officer Opinion Survey released Monday. … READ MORE >
Canada added 41,400 jobs in April amid resilient labor market
The strong jobs report should get the attention of the Bank of Canada as it weighs its next move in June. … READ MORE >
Hiring in U.S. remains robust in April as the jobless rate falls to 3.4%
We have made the case over the past few months that resilience rather than recession is a more apt description of the American economy. The net change in employment in the April jobs report of 253,000 reported by the Labor Department on Friday reflects that resilience. In addition, the … … READ MORE >