Recent Commentary
Diane Swonk | Fed Flash | September 1, 2010
Construction activity plummeted 1% between June and July, well below consensus estimates, and off more than 10% from a year ago.
Diane Swonk | Fed Flash | September 1, 2010
The ADP preliminary report on private sector employment dropped by 10,000 in the month of August, its first decline since January.
Diane Swonk | Fed Flash | August 31, 2010
The minutes from the most recent Federal Open Market Committee (FOMC) meeting, which included the Fed's decision to maintain rather than draw down the Fed's balance sheet, confirmed what we already knew.
Diane Swonk | Fed Flash | August 30, 2010
Many were heartened by the initial report that consumer spending surged 0.4%, twice the pace of income growth during the month of July, after posting no growth during the month of June. A rise in vehicle sales accounted for some of the upside surprise.
Diane Swonk | Fed Flash | August 27, 2010
Fed Chairman Ben Bernanke laid out the Fed's options, should the economy continue to disappoint on the downside, in his remarks at the Kansas City Fed meeting in Jackson Hole, Wyoming this morning.
GDP Revised Down Less Than Expected, but Still Provides Disappointing Picture of a Weakening Economy
Adolfo Laurenti | Fed Flash | August 27, 2010
Economic growth in the second quarter was revised down from an already moderate level of 2.4% to a modest 1.6%.
Diane Swonk | August 25, 2010
Fed might need to act to avert further decline.
Diane Swonk | Fed Flash | August 25, 2010
New home sales slid more than 12% in July to an abysmal 276,000 unit rate, remaining at record lows, despite a marginal rebound in June.
Diane Swonk | Fed Flash | August 25, 2010
Durable goods orders edged up 0.3% in July, which was a disappointment, especially in light of declines during the two previous months.
Diane Swonk | Fed Flash | August 24, 2010
Existing home sales sunk 27.2% to 3.83 million units in July, after being revised down to 5.26 million units in June, and its third drop in as many months.
Diane Swonk | Fed Flash | August 19, 2010
Unemployment soared to 500,000 from an upwardly revised 484,000 during the second week of August, while continuing claims remained elevated.
Diane Swonk | Fed Flash | August 17, 2010
The Fed's index of industrial production surged to a better-than-expected 1.0% in July after being revised down to show a modest decline of 0.1% in June.
Diane Swonk | Fed Flash | August 17, 2010
Housing starts rose to a 546,000 unit pace in July after being revised down for the previous month. The net effect is that starts are running even cooler than many expected over the summer.
Diane Swonk | Fed Flash | August 13, 2010
Retail sales rose 0.4% in July after falling 0.3% in June, which was a smaller decline than previously reported for the month of June.
Diane Swonk | Fed Flash | August 12, 2010
Initial unemployment claims rose to 484,000 from an upwardly revised 482,000 the week prior. Distortions created by the timing of vehicle plant closures and the extensions to unemployment insurance no doubt contributed to the rise.
Diane Swonk | Fed Flash | August 11, 2010
The U.S. trade deficit widened to $49.9 billion in June from $42.0 billion in May. Much of the increase in the deficit could be attributed to a sharp rise in imports from China.
In her August newsletter, Swonk takes a closer look at the outlook for consumer spending, now that credit is not as easy as it once was, and we are all a little more constrained by what we earn to keep spending going.
Diane Swonk | Fed Flash | August 10, 2010
The Federal Open Market Committee (FOMC) downgraded its outlook for economic growth, and decided to hold interest rates within the 0 to 0.25% range.
Diane Swonk | Fed Flash | August 6, 2010
Payroll employment fell by 131,000 jobs in July, after contracting by more than 200,000 in June.
Diane Swonk | Fed Flash | August 3, 2010
Incomes and spending were essentially flat in June, with a loss in census worker pay offset slightly by an increase in transfer payments (largely extensions to unemployment insurance).
Diane Swonk | Fed Flash | August 2, 2010
The ISM index for the month of July moderated to 55.5 from 56.2 in June, which is a lesser decline than the market expectation, and is still consistent with a manufacturing sector that is expanding.
Diane Swonk | Fed Flash | July 30, 2010
Real GDP rose at a 2.4% rate in the second quarter, a sharp slowdown from the upwardly revised 3.7% pace of the first quarter.
Diane Swonk | Fed Flash | July 29, 2010
Initial claims for unemployment insurance edged down slightly to 457,000 last week from 468,000 the week prior, but remain at extremely high levels given the fact that we are supposed to be more than a year into an economic recovery.
