• October 27, 2022
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More comments from St. Louis Fed James Bullard. He expects the central bank to end its “front-loading” of aggressive interest-rate hikes by early next year and shift to keeping policy sufficiently restrictive with small adjustments as inflation cools. “You do have to think about what the reasonable level is,” said Bullard, who has become Wall Street’s

• October 20, 2022
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U.S. existing home sales slowed for the eighth straight month in September as rising mortgage rates, surging inflation and steep home prices continued to push prospective buyers out of the market. Sales of previously owned homes tumbled 1.5% in September from the previous month to an annual rate of 4.71 million units, according to new

• October 27, 2022
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The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38PDF provides details about these annual adjustments. New for 2023 The Inflation Reduction Act extended certain energy related tax breaks and indexed for inflation the energy efficient

• October 19, 2022
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U.S. stocks retreated across the board as all three of the major benchmarks led by the tech-heavy Nasdaq Composite fell as bond yields rose. The 10-year Treasury yield closed at 4.127%, the highest level since July 2008.

• October 14, 2022
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Mortgage rates may head toward 8.5% if they break through the 7% threshold they’re on the verge of now, according to the chief economist of the National Association of Realtors. That possibility is based on a technical analysis of mortgage rates from NAR’s Lawrence Yun, who studied key levels of resistance that borrowing costs will

• October 16, 2022
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Investing.com — U.S. retail sales were flat in nominal terms in September, below expectations and again highlighting the pressure on consumer spending power from high inflation. However, core retail sales, which strip out some of the more volatile elements of the consumer shopping basket, edged up 0.1%, slightly better than forecast, in an overall mixed

• December 18, 2022
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Social Security benefits are set to rise by 8.7% in 2023, the biggest bump in four decades as stubbornly high inflation erodes the buying power of retired Americans, the Social Security Administration said on Thursday. The increase, known as a cost-of-living adjustment (COLA), is the biggest since 1981, when recipients saw an 11.2% jump. More

• October 13, 2022
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Inflation ran hotter than expected in September, continuing to squeeze U.S. households and worsen a political headache for President Biden with just one month until midterm elections. The Labor Department said Thursday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in September

• October 12, 2022
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Inflation at the wholesale level rose more than expected in September as prices for everyday necessities remain at a multi-decade high, squeezing businesses and millions of American households. The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, rose 0.4% in September from the

• October 11, 2022
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The International Monetary Fund on Tuesday slashed its global growth outlook for next year, warning the world economy is headed for “stormy waters” and that there is a growing risk of a painful worldwide recession if major central banks fumble the fight against inflation. The Washington-based institution said in its latest World Economic Outlook that