OCTOBER 25, 2021 – ATLANTA FED PRESIDENT PREDICTS 2022 RATE HIKE Raphael Bostic, the President of the Atlanta Federal Reserve, spoke Thursday to CNBC. He is anticipating a growing economy and lasting inflation will cause the Fed to raise rates in the “late third or early fourth” quarter of 2022. Bostic believes, as restrictions associated with covid are lifted, growth …
October 18, 2021 — Pressure on the Fed as Inflation Rises
OCTOBER 18, 2021 – PRESSURE ON THE FED AS INFLATION RISES September’s inflation is up 5.4 percent year over year, the largest increase since 2008. Prices are up 0.4 percent from August; while core inflation, excluding food and energy, was up 0.2 percent in September and 4 percent year to date, slightly below of a 30 year high of 4.5 …
October 11, 2021 — Jobs Numbers Disappoint While Unemployment Falls
OCTOBER 11, 2021 – JOBS NUMBERS DISAPPOINT WHILE UNEMPLOYMENT FALLS The US economy added 194,000 new jobs in September, the slowest gain of this year, while the unemployment rate fell to 4.8 percent as many workers stopped looking for work. The delta variant of the corona virus is putting a damper on economic growth. The 194,000 new jobs are the …
October 4, 2021 — Surge in SPending Signals a Sustained Recovery
OCTOBER 4, 2021 – SURGE IN SPENDING SIGNALS A SUSTAINED RECOVERY US consumer spending rose in August signaling the economy is picking up as we head into the fall and winter. Spending on goods and services was up 0.8 percent in August after a 0.1 percent decline in July. Personal income also rose in August by 0.2 percent as a …
September 27, 2021 — The Fed Signals Timing of Future Rate Hikes
SEPTEMBER 27, 2021 – THE FED SIGNALS TIMING OF FUTURE RATE HIKES At their meeting last week, the Federal Reserve signaled it could raise rates by 6-7 times by the end of 2024. They are optimistic the covid pandemic will abate and the economy will improve substantially over the next few years. They are still holding rates at zero for …
September 20, 2021 — The US Economy is Showing Toughness
SEPTEMBER 20, 2021 – THE US ECONOMY IS SHOWING TOUGHNESS It seems the economy is not ready to cede to the delta variant of the virus that has taken hold. Retail sales were up 0.7 percent in August, recovering from a drop in July. While initial jobless claims, up last week by 20,000, remain close to a pandemic low. Some …
September 13, 2021 — Initial Claims Fall to Lowest Since February 2020
SEPTEMBER 13, 2021 – INITIAL JOBLESS CLAIMS FALL TO LOWEST SINCE FEBRUARY 2020 Initial US jobless claims fell to a pandemic era low last week coming at 310,000. The four-week average at 339,500 is also a pandemic low. This is good news, as it means employers are not laying off workers in light of the delta variant taking off across …
September 7, 2021 — Job Growth Decelerates in Run Up to Fed’s Monthly Meeting
SEPTEMBER 7, 2021 – JOB GROWTH DECELERATES IN RUN UP TO FED’S MONTHLY MEETING The virus’ delta variant is having a negative effect on the economic recovery. The US economy added 235,000 new jobs in August, far short of the 720,000 expected by economists. For comparison, 1.1 million jobs were created in July and 962,000 in June. However, the unemployment …
August 30, 2021 — Fed’s Annual Symposium: No Policy Change Timeline Given
AUGUST 30, 2021 – FED’S ANNUAL SYMPOSIUM: NO POLICY CHANGE TIMELINE GIVEN On Friday, at the Federal Reserve’s annual symposium, Fed Chair Jerome Powell was non-committal on the timing of monetary policy changes. His comments were dovish, saying the Fed is inclined to take a wait and see approach before adjusting policy and tapering asset purchases. “Today with slack remaining …
August 23, 2021 –Jobless Claims Fall to Pandemic Era Lows
AUGUST 23, 2021 – JOBLESS CLAIMS FALL TO PANDEMIC ERA LOWS Jobless claims hit post-pandemic low falling for the fourth week in a row indicating the job market is recovering. Employers are hiring to meet a surge in demand. The Labor Department reported jobless claims fell to 348,000 last week, and the 4-week average claims is also a pandemic low. …