Category: Politics & Economy

• August 24, 2022
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The National Association of Realtors said on Wednesday that its pending home sales index tumbled 19.9% in July compared with the same month one year ago. On a monthly basis, pending home sales dropped 1% – less than the 4% decline projected by economists.

• August 17, 2022
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Federal Reserve officials indicated at their July meeting that additional interest rate hikes are necessary in the coming months until policymakers see evidence that inflation has cooled “considerably.” Minutes from the U.S. central bank’s July 26-27 meeting released on Wednesday show that policymakers reiterated the need to raise interest rates to a level that brings

• August 10, 2022
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• realestatelife

The Labor Department said Wednesday that the consumer price index rose 8.5% in July from a year ago, below the 9.1% year-over-year surge recorded in June.

• August 5, 2022
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U.S. job growth unexpectedly accelerated in July, defying fears of a slowdown in hiring even as the labor market confronts the twin threats of scorching-hot inflation and rising interest rates. Employers added 528,000 jobs in July, the Labor Department said in its monthly payroll report released Friday, blowing past the 250,000 jobs forecast by Refinitiv economists.

• July 27, 2022
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• realestatelife

The Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis points for the second straight month as it tries to bring scorching-hot inflation under control, a move that threatens to slow U.S. economic growth and exacerbate financial pressure on Americans. The three-quarter percentage point hikes in June and July – the first

• July 15, 2022
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Americans ramped up their spending at retail stores in June, a sign that consumers are still opening their wallets even as inflation persists at a 40-year high. Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, rose 1% in June from the prior month,

• July 13, 2022
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• realestatelife

Inflation accelerated to a new four-decade high in June as the price of everyday necessities remains painfully high, exacerbating a financial strain for millions of Americans and worsening a political crisis for President Biden.

• July 8, 2022
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• realestatelife

The U.S. labor market remained solid in June as hiring paced ahead of expectations. U.S. employers added 372,000 jobs during the month compared with 390,000 in the prior month signaling inflation is having a limited impact on hiring thus far. The unemployment rate held steady at 3.6% for the third month in a row. Industries leading

• June 17, 2022
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• realestatelife

The Nasdaq Composite and S&P 500 led a mixed market Friday, while the Dow Jones Industrial Average pulled back as investors wrapped the worst stretch since the pandemic amid inflation and recession fears. In commodities, oil fell 9.2% to $109.56 per barrel for the week.

• June 15, 2022
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• realestatelife

May retail sales unexpectedly decline as consumers confront sizzling hot inflation.  Economists expected retail sales to rise modestly in May, despite sky-high inflation. Retail Sales -0.3 vs 0.2 Ex Autos 0.5 vs 0.8 Import Prices MOM 0.6 vs 1.1 Empire MFG -1.2 vs 3