Robust Jobs Data Dampens Expectations for Fed Rate Cuts
Unemployment dipped in March 2024, indicating that the labor market has remained resilient despite the Fed rate hikes.
Robust Jobs Data Dampens Expectations for Fed Rate Cuts Read More »
Economy
March 2024 Sees Increase in Inflation, Suggesting Continuation of Rate Holds
March 2024 saw a 3.5% rise in consumer prices, exceeding expectations and fueling discussions on the Federal Reserve’s interest rate policy.
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Inflation, Mortgage Rates, and the Lock-in Effect
After the December 2023 meeting, many investors and analysts had predicted six rate cuts and rapidly declining mortgage rates that would not only ease supply but bring back many homebuyers to the market and that housing affordability would improve. Many had anticipated a rate cut as early as March 2024. After the Fed’s January 2024 meeting, the odds of a March rate cut have declined significantly due to data showing continuing strength in the U.S. economy.
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January 2024 Inflation Rate of 3.1% Exceeds Predictions
The all items CPI increased 3.1% in January 2024 from a year ago. While this reading was higher than expected, it was lower than the inflation rate of 3.4% in the previous month.
January 2024 Inflation Rate of 3.1% Exceeds Predictions Read More »
January 2024 Unemployment Remains at 3.7% Despite Several Layoff Announcements
In January 2024, the U.S. unemployment rate remained at 3.7%, maintaining its level from the previous month, despite the backdrop of additional layoff announcements.
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Job Openings and Labor Turnover Summary – December 2023
Job openings were at 9.0 million at the end of Dec 2023, representing a decrease from the peak of 12.0 million observed in March 2022.
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Does February 2024’s Unemployment Report Suggest a Weakening Labor Market?
The unemployment rate increased to 3.9% in February 2024, while nonfarm payrolls showed that the US economy added 275,000 jobs.
Does February 2024’s Unemployment Report Suggest a Weakening Labor Market? Read More »
Consumer Debt is Growing
Data released by Federal Reserve Bank of New York in their Quarterly Report on household Debt and Credit shows that consumers added $228 billion in debt from Q2 2023 to Q2 2023 to reach $17.29 trillion. The debt burden increased by 4.8% or $786 billion from Q3 2022 to Q3 2023.
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Unemployment Remains Low, But There Are Signs of Weakening
The official unemployment rate, as reported by the Bureau of Labor Statistics (BLS) in their “The Employment Situation” report for December 2023, held steady at 3.7%. This matches the level reported in November 2023 and remains near historical lows.
Unemployment Remains Low, But There Are Signs of Weakening Read More »
Inflation is Cooling but Will Not Reach the Fed’s Target Rate of 2% in 2024
The headline inflation reading was 3.4% for December 2023, showing an uptick from the previous month’s reading of 3.1% (bls.gov). Core CPI, excluding volatile food and energy prices, rose 0.3% for the month and 3.9% from a year ago.
Inflation is Cooling but Will Not Reach the Fed’s Target Rate of 2% in 2024 Read More »