Category Archives: Economic News

The Federal Reserve Open Market Committee raised the Fed funds rate today by 0.25% to a new range of 5.25-5.50%. The vote was unanimous. Starting from zero in March 2022, this 11th hike continued the quickest and strongest hiking pace … Continue reading →

Economic Update 7-24-2023  Economic data for the week included the index of leading economic indicators continuing a long stretch of declines, pointing to ongoing recession risks. Industrial production and retail sales slowed, as did sales and starts in the housing … Continue reading →

Economic Update 7-18-2023  Economic data for the week included producer and consumer price inflation continuing to decelerate—and even more so than expectations. Consumer sentiment also improved to the highest point in several years.  Global equities gained last week on the … Continue reading →

Economic Update 7-10-2023  In a holiday-shortened week, economic releases included the mixed results of ISM manufacturing falling further into contraction, while ISM services rose further into expansion. The employment situation report showed positive jobs growth, but at a slower rate … Continue reading →

Economic Update 6-20-2023  Economic news for the week included the Federal Reserve keeping interest rates steady for the first time in a year. In other data, consumer price inflation decelerated but remained high, while producer price inflation decelerated even further. … Continue reading →

Economic Update 6-12-2023  In a light week for economic data, ISM non-manufacturing fell back but continued on a path of expansion. Jobless claims were mixed, with possible continued effects from seasonal adjustments.  Equities gained across the board last week, as … Continue reading →

Economic Update 6-05-2023  Economic data for the holiday-shortened week included strength in the May employment situation report and construction spending, while ISM manufacturing and consumer confidence declined.  Global stocks broadly rose last week, helped by the conclusion to the U.S. … Continue reading →

Economic Update 5-30-2023  Economic data for the week included a revision higher for Q1 GDP, as well as reported gains in personal income, personal spending, and durable goods. New home sales also saw an increase, while jobless claims reset from … Continue reading →

Economic Update 5-23-2023  Economic data for the week included increases in retail sales and industrial production, mixed regional manufacturing and housing results, and a decline in jobless claims.  Global equities were higher for the week, with an absence of negative … Continue reading →

Economic news for the week included the FOMC hiking rates by another quarter-percent, raising speculation that this might be for the final time this cycle. The employment situation report came in stronger than expected, with a falling unemployment rate, although … Continue reading →

Economic Update 5-01-2023  Economic data for the week included Q1 U.S. GDP growth coming in lower than expected, gains in durable goods orders, and continued mixed results for housing markets. Equities rose last week as earnings came in surpassing low … Continue reading →

Economic Update 4-26-2023  Economic data for the week included mixed results from several regional manufacturing surveys, while existing home sales and housing starts data deteriorated further. Global equities were little changed last week, with small gains in the U.S. and … Continue reading →