Fed raises interest rates and makes few changes to outlook ahead of transition to Powell

  • December 13, 2017
  • no comment
  • realestate

The Federal Reserve on Wednesday lifted a key U.S. interest rate and struck a wait-and-see stance that takes into account weak inflation and a change in leadership at the central bank. The central bank as expected on Wednesday raised its benchmark federal-funds rate by a quarter percentage point to between 1.25% and 1.5% — the

READ MORE

U.S. adds 228,000 jobs in November; unemployment flat at 4.1%

  • December 8, 2017
  • no comment
  • realestate

The U.S. created 228,000 jobs in November in another sign the economy is running at full tilt. Economists had predicted a 200,000 increase in nonfarm jobs. The unemployment rate stayed the same at 4.1%. Wages rose 0.2%, or 5 cents, to an average of $26.55 an hour, the government said Friday. Worker pay increased 2.5%

READ MORE

Senate Banking Committee approves Powell to lead Fed

  • December 7, 2017
  • no comment
  • realestate

As expected, the Senate Banking Committee overwhelmingly approved Jerome Powell Tuesday to lead the Federal Reserve. All the panel’s Republican and Democrat members voted for Powell except one single Democrat, and now, this bipartisan support all but seals Powell’s future as Federal Reserve Chair.

READ MORE

Philly Fed manufacturing index slows in November from strong level

  • November 16, 2017
  • no comment
  • realestate

The Philadelphia Fed’s manufacturing index slowed to a reading of 22.7 in November from 27.9 in October. Any reading above zero indicates improving conditions.

READ MORE

Core CPI picks up while retail sales gain 0.2% in October

  • November 15, 2017
  • no comment
  • realestate

Consumer prices minus food and energy picked up a bit in October while retail sales rose modestly, according to government data released Wednesday. The overall CPI rose by a seasonally adjusted 0.1% in October, while core prices rose a slightly stronger 0.2%. Over the past 12 months, core consumer inflation has risen 1.8%, up from

READ MORE

U.S. producer prices surge 0.4% in October

  • November 14, 2017
  • no comment
  • realestate

The producer price index rose 0.4% in October. That was well above the MarketWatch forecast of a 0.1% gain. Another measure preferred by economists, known as core PPI, rose 0.2% for the third straight month. The core rate strips out food, energy and trade margins. The increase in the PPI pushed the 12-month rate of

READ MORE

US created 261,000 jobs in Oct, vs 310,000 jobs expected

  • November 3, 2017
  • no comment
  • realestate

The U.S. economy added 261,000 jobs in October and the unemployment rate was 4.1 percent as labor conditions returned to normal following the storm-weakened September. However, the number was considerably below Wall Street expectations of 310,000. The tick lower in the unemployment rate came against expectations it would hold steady at 4.2 percent. A broader

READ MORE

What to expect from the Fed today

  • November 1, 2017
  • no comment
  • realestate

It’s Fed decision day. And if investors and analysts are judging correctly, the Federal Reserve will announce it is standing pat on interest rates and monetary policy at the conclusion of this week’s Federal Open Market Committee (FOMC) meeting. Even though the Fed isn’t expected to increase its benchmark interest rate — and won’t hold a

READ MORE

Yellen reportedly out of race to be Fed chief

  • October 26, 2017
  • no comment
  • realestate

Janet Yellen is no longer in the race to serve a second term as chair of the Federal Reserve, Politico reported, citing a person who talks “regularly” with President Donald Trump. That would leave the race to Fed Gov. Jerome Powell and Stanford economist John Taylor. The same report quoted someone “close to the process”

READ MORE

Consumer spending hits eight-year high in September – but gain inflated by hurricanes

  • October 30, 2017
  • no comment
  • realestate

Consumer spending leaped 1% in September, the biggest gain since early mid-2009, just as the current economic recovery got underway. Economists polled had forecast a 0.1% increase due to hurricane-related spending. Personal income rose 0.4%. The savings rate fell to 3.1%, the lowest level since December 2007. The PCE index, the Federal Reserve’s preferred inflation

READ MORE

Subscribe to Newsletter

Get weekly updates on mortgage rates, finance, lending and real estate.