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. …
August 16, 2019 — Inflation Remains Strong in July
AUGUST 16, 2019 – INFLATION REMAINS STRONG IN JULY Inflation remained high in July as the recovery continued; consumer prices rose 5.4 percent from a year ago. This is the highest 12-month increase since 2008. However, on a monthly basis, inflation rose 0.5 percent in July from June, almost half the 0.9 percent increase in June from May, but still …
August 9, 2021 — Unemployment Rate Falls as the Economy Adds Jobs
AUGUST 9, 2021 – UNEMPLOYMENT RATE FALLS AS THE ECONOMY ADDS JOBS The labor market took off last month with the US economy adding 943,000 new jobs, as the July unemployment rate fell to 5.4 percent. This was the best gain in eleven months and the unemployment fell 0.5 percent from June to the lowest level since the pandemic began. …
August 2, 2021 — Fed Holding the Line as GDP Powers Ahead
AUGUST 2, 2021 – FED HOLDING THE LINE AS GDP POWERS AHEAD The Fed said last year they would continue bond purchases to stimulate the economy until they saw substantial further progress toward their goals of full employment and stable inflation. At their July meeting last week, the Fed concluded “the economy has made progress toward these goals”, and the …
July 26, 2021 — Federal Reserve Meeting this Week
JULY 26, 2021 – FEDERAL RESERVE MEETING THIS WEEK Fed Reserve heads into their set monthly meeting this week and they will address how to roll back their easy money policies. The economy has improved much faster and stronger than they anticipated six months ago, putting into question the timeline of bond buybacks and the timing on changes in the …
July 19, 2021 — US Inflation Up Again; Fed Challenged by Senate
JULY 19, 2021 – US INFLATION UP AGAIN; FED IS CHALLENGED BY SENATE US inflation is moving at the fastest pace in 13 years, with last month’s CPI up 5.4 percent from a year ago, the highest monthly rise since August 2008. The core price index was up 4.5 percent year over year. Inflation is higher as businesses make up …
July 12, 2021 — Initial Jobless Claims Rise Slightly
JULY 12, 2021 – INITIAL JOBLESS CLAIMS RISE SLIGHTLY In the holiday shortened week, the US Labor Department announced the new weekly jobless claims came in at 373,000, 2,000 more than the week before, and greater than the expected number of 350,000. The data is not causing worries, as it is not seen as the start of a trend. With …
July 6, 2021 — Hiring Rebounds Significantly in June
JULY 6, 2021 – HIRING REBOUNDS SIGNIFICANTLY IN JUNE The US economy added 850,00 new jobs in June, the biggest employment gain in 10 months. Workers’ wages rose by 3.6 percent from a year earlier. The unemployment rate in June was 5.9 percent, up from 5.8 percent in May; this is not bad news, but rather due to workers re-entering …
June 28, 2021 — PCE Up 3.4 Percent in May
JUNE 28, 2021 – PCE UP 3.4 PERCENT IN MAY The PCE (personal consumption index) rose 3.4 percent on a year-over-year basis in May, after rising 3.1 percent in April. The increase was anticipated, but it was also the greatest increase recorded since April 1992. The PCE is the index the Fed officials reference when addressing inflation. The data release …