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Listen Live:
Saturday’s: 9AM
Fox Sports Ventura
1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
Spending increased 0.5% during the month, and stood 2.5% higher than a year ago. Outlays were at a seasonally adjusted annual $1.22 trillion rate in August, while July’s initial tally was revised up to $1.212 trillion. The median forecast among economists surveyed by was for a 0.4% increase.
READ MOREConsumer spending rose 0.1% in August. If adjusted for inflation, however, spending fell for the first time since January. Personal income climbed 0.2%, above the 0.1% forecast. The savings rate was flat at 3.6%. The PCE index, the Federal Reserve’s preferred inflation gauge, increased 0.1% in August. The closely followed “core” rate that strips out
READ MOREInitial U.S. jobless claims, a tool to measure layoffs, rose by 12,000 to 272,000 in the seven days stretching from Sept. 17 to Sept. 23.
READ MOREThe U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years.
READ MOREThe Federal Reserve and other central banks have been on a quest since 2012 to get inflation back up to levels they deem appropriate for a stable, growing economy. There have been many setbacks along the way, leaving central bankers stumped, with Fed Chair Janet Yellen saying the slowdown in inflation has been a “mystery.”
READ MOREIn the past, bond investors have been skeptical of prospects for tax legislation. But with more concrete details unveiled, Treasurys have seen selling pressure. Nonetheless, analysts feel there are plenty of stumbling blocks that could serve as roadblocks.
READ MOREDurable-goods orders climbed 1.7% last month, the government said Wednesday. Economists polled had forecast a 1% gain. The increase stemmed mainly from a big batch of orders for commercial aircraft. Bookings surged 45%. Demand was higher for most other manufactured goods, but orders grew at a smaller pace. Orders minus transportation edged up 0.2%. A
READ MOREAugust New Home Sales 560K vs. estimates of 588K
READ MOREAmerican consumers feel a bit less confident this month, their spirits pulled down by Hurricanes Harvey and Irma. The Conference Board says its consumer confidence index fell to 119.8 in September from 120.4 in August. Conference Board economist Lynn Franco says that confidence “decreased considerably” in hurricane-hit Florida and Texas.
READ MORENew York Fed President William Dudley, among the first U.S. central bankers to speak publicly since their decision last week to hold rates steady for now, cited the soft dollar and strong overseas growth among the reasons he expects slightly above-average U.S. economic activity and a long-sought rise in wages. “With a firmer import price
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