By Traders woke up on Wednesday to new updates on last month’s inflation and retail sales trends, indicating slowing price pressures and a weaker-than-expected consumer spending in the U.S. As a reminder, the headline inflation rate slowed as predicted from 3.5% to 3.4% year-on-year in April 2023, while retail sales showed a flat month-on-month reading,…
By Jerome H. Powell, the Federal Reserve chair, reiterated that policymakers were poised to hold interest rates steady at a high level as they waited for evidence that inflation is slowing further.Fed officials entered 2024 expecting to make interest rate cuts, having lifted borrowing costs sharply to a more than two-decade high of 5.3 percent…
By What a difference three months makes.At the end of 2023 and the start of 2024, it appeared that the US was on a glide path to what I termed “economic nirvana”: Growth would stay steady, if not spectacular, as inflation cooled off to a more manageable pace. This combination would not only let America…
By Eugene Mymrin/Getty Images Following three months of hotter-than-expected inflation reports, no one imagined the Federal Reserve would start cutting rates at its policy meeting earlier this month. The Fed is holding the federal funds rate high, at a target range of 5.25% to 5.50%, until the economy shows more definitive signs of slowing. But…
By Despite the Fed reiterating its “higher for longer” mantra and softness creeping into the U.S. macroeconomic data, equity markets shook off the April jitters. Nasdaq turned in a +1.1% gain on the week (ending May 10th), with the S&P 500 (+1.85%) and DJIA (+2.16%) showing even higher gains.Rent Inflation: Survey vs Rent RollUniversal Value…
By As the November election draws nearer, U.S. Treasury Secretary Janet Yellen has been making the case for the Biden economy. Over the weekend, Yellen spoke at the East Valley American Jobs Center in Mesa, Arizona, where she touted the over $1 trillion in spending that Congress authorized with the CHIPS and Science Act, Bipartisan…
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By The 2024 election will be here before you know it, and economists are watching it closely.If Donald Trump wins a second term, some experts believe it could affect the trajectory of inflation in the United States — that a second Trump term would mean higher tariffs, higher deficits and other policies that would increase…
By Make sure your savings earns a meaningful return in today’s inflationary environment. Getty Images Inflation has run hot thus far in 2024. Although January’s 3.1% inflation rate was lower than December’s 3.4% rate, it was higher than economists expected. And, in February and March, price growth started to speed up across the United States…
By (Bloomberg) — “Mixed” messages from key US economic data and the accompanying swings in stock markets mean investors should load up on defensive sectors such as consumer staples, according to Morgan Stanley strategists.Most Read from BloombergApril Inflation figures due next week will offer fresh insights about the US economy after employment data out Friday…