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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.
READ MOREPending home sales snapped back in August, following two months of declines, as the housing market showed signs of regaining its footing.
READ MORESeptember 22, 2021 This is #6 of 8 FOMC meetings this year. For release at 2:00 p.m. EDT – This is the time of day nearly all FOMC announcements are made. The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its
READ MOREHousing starts rose 3.9% last month to a seasonally adjusted annualized rate of 1.615 million, the Commerce Department said Tuesday. Analysts were expecting 1.555 million starts.
READ MORERetail sales, a measure of spending at restaurants, stores and online, last month rose 0.7%, according to the Commerce Department. Analysts expected a 0.8% decline.
READ MOREThe bipartisan $1 trillion infrastructure bill that recently passed in the Senate will boost GDP just marginally because it includes only $550 billion in new spending to be disbursed over five to eight years, much of which will be paid for with higher taxes. Through 2029 this spending should boost GDP by, at most, 0.30%/year.
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READ MOREU.S. productivity rose at 2.2% annual pace in the third quarter after a strong gain in the spring, marking the best back-to-back performance in four years in a good sign for the economy. Companies increased the amount of goods and services they produced, known as output, by 4.1% in the three months stretching from July
READ MOREThe U.S. economy grew as expected in the second quarter, according to a reading Thursday that confirmed that gross domestic product rose at its quickest rate in nearly four years. GDP, the broadest measure of how the economy is progressing, increased 4.2 percent, the Bureau of Economic Analysis reported, the same as expected from economists
READ MOREFOMC Raises their Fed Fund Rate 1/4 point to 2.25% The Fed additionally removed language saying that they are “accomodative”. 12 out of 16 FOMC members see another rate hike in December.
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