Tag Archives: federal reserve
Personal disposable incomes rose 0.4% after adjusting for inflation in the month of July, faster than consumer spending, which edged up 0.3% during the month. The bulk of the rebound in consumer spending, which came on the heels of a slight upward revision to June, occurred in vehicle purchases. Consumers have been reluctant to spread [...]
The economy expanded at a revised 3.7% pace in the second quarter, almost 1.5% stronger than initial estimates for the period. The changes were driven by a strong upward revision to business investment. Commercial construction activity was particularly strong, while the contraction in equipment spending is now significantly less than initially reported.
Rapid declines in global equity prices, risks that the downdraft in China will take the U.S. market down again tomorrow and a legitimate concern that inflation will further decelerate are now expected to keep the Federal Reserve on the sidelines in September. A move in December is still possible, but a close call. Uber dove [...]
The Federal Open Market Committee (FOMC) minutes show that the Federal Reserve continued to edge toward liftoff, but members were not there yet last month. The divide between those on the FOMC who would like to raise rates in September and those who would prefer to wait is widening.
The Consumer Price Index (CPI) rose a slightly less-than-expected 0.1% in July, with weakness in energy, vehicle and airfares offsetting continued increases in shelter costs. Prescription drug costs also continue to rise,
The economy added 215,000 jobs in the month of July while the unemployment rate held steady at 5.3%. The report, in line with expectations, shows overall a solid performance of the labor market, easing some early concerns that job creation may have suffered a summer lull.
Personal disposable incomes rose 0.2% in the month of June after adjusting for inflation. The inflation-adjusted data on Personal Consumer Expenditures (PCE) were essentially flat. The numbers were not as bad as they appeared
The Employment Cost Index (ECI), which is widely considered the “best” measure of overall wage gains by the Federal Reserve, disappointed in the second quarter. Fees and commissions, which buoyed first quarter gains, slowed fairly dramatically along with outlays for benefits
The overall economy expanded at a 2.3% pace in the second quarter after rising at an upwardly revised 0.6% pace in the first quarter. Benchmark revisions, which incorporate new data and attempt to deal with the first quarter seasonal problems, helped to smooth the path of growth in recent years.
Housing starts rebounded to a 1.174 million-unit pace in June, while the decline for May was slightly less than initially reported. Gains were concentrated in the multi-family market as builders are still rushing to meet what they see as a permanent shift by millennials to move to urban centers and delay marriage and having children; [...]