8/18 – Weekly Economic Highlights
This week’s inflation data provided encouraging indications of moderating inflation trends. The Consumer Price Index (CPI) witnessed a monthly increase of 0.2% in July, while the annual CPI experienced a slight rise to 3.2% due to an unfavorable year-over-year comparison
8/11 – Weekly Economic Highlights
This week’s inflation data provided encouraging indications of moderating inflation trends. The Consumer Price Index (CPI) witnessed a monthly increase of 0.2% in July, while the annual CPI experienced a slight rise to 3.2% due to an unfavorable year-over-year comparison
8/4 – Weekly Economic Highlights
On Wednesday, the US Treasury’s credit rating was downgraded by Fitch, a nationally recognized statistical ratings organization that assesses creditworthiness of various institutions, including sovereign entities. The rating was lowered from the highest level of “AAA” to “AA+”, which is only one notch below the highest possible credit rating of “AAA.” The action comes just two months after Fitch warned that it was weighing cutting the credit rating when lawmakers were in political battles over raising the nation’s debt limit.
7/28 – Weekly Economic Highlights
As was widely anticipated, this week the Federal Open Market Committee (FOMC) voted unanimously to raise the federal funds rate by 0.25% to a target range of 5.25% to 5.50%, the highest level in over 20 years. Fed Chair Powell maintained that the FOMC will remain data dependent going forward, and that they do not anticipate a recession, leaving the option open for the possibility of additional rate hikes in the future if needed.
7/21 – Weekly Economic Highlights
This week, market participants were focused on inflation and associated implications for monetary policy. The June Consumer Price Index (CPI) came in slightly below expected, with the headline CPI up 0.2% month-over-month and 3.0% year-over-year, decelerating from 4.0% year-over-year in May.
7/14 – Weekly Economic Highlights
This week, market participants were focused on inflation and associated implications for monetary policy. The June Consumer Price Index (CPI) came in slightly below expected, with the headline CPI up 0.2% month-over-month and 3.0% year-over-year, decelerating from 4.0% year-over-year in May.
7/7 – Weekly Economic Highlights
The U.S. Bureau of Labor Statistics reported today that payrolls increased by 209,000 in June, falling short of consensus estimates. The sectors that experienced the strongest hiring were government, education and health services, social assistance, construction, professional and business services, and leisure and hospitality.
6/30 – Weekly Economic Highlights
On Wednesday Federal Reserve Chairman Jerome Powell at the ECB forum in Portugal signaled more tightening will be required to rein in inflation and was open to two straight rate hikes at coming meetings. In addition to comments from the Fed chief, financial markets received a lot of economic data this week inclusive of a key gauge of US inflation.
6/23 – Weekly Economic Highlights
This week, investors digested housing data which surprised to the upside. Total Housing Starts rose 21.7% month-over-month in May to 1,631,000 units from a downwardly revised 1,340,000 in April and were up 5.7% compared to May 2022.
6/16 – Weekly Economic Highlights
The Federal Open Market Committee (FOMC) met earlier this week and in a welcome development refrained from increasing the Fed Funds rate after nine straight rate increases of varying magnitudes.