BoE Interest Rates The Bank of England has decided to keep interest rates the same (5.25%) on Friday. This decision comes off the back of the FED also keeping interest rates the same. This decision is important because it shows major economies around the world are starting to act the same way. BoE and FED […]
August CPI and this Week’s FOMC Decision Wednesday, a mixed inflation print showed an acceleration in headline CPI (3.7% up from 3.2%) next to a deceleration in Core (4.3% down from 4.7%)–now at the lowest level since September 2021. A combination of Saudi Arabian and Russian production cuts, strong China manufacturing data, and natural gas […]
Weakening State of the Consumer Over the past few months, the state of the consumer has been gradually weakening, and the outlook over the next year looks bleak. The Covid-era savings, which were fueled by stimulus checks and holdbacks like student loans, are quickly waning, all while the rate of personal savings for Americans is […]
Labor Strikes Across the US Unions are in focus across the country as more workers threaten industrial action and strikes continue to impact entire industries. Many workers feel compensation and conditions have worsened over the past three years despite bumper corporate profits since the pandemic. Besides pay not keeping up with the rising cost of […]
Fed Keeps Hawkish Narrative Following Jackson Hole Symposium Last Friday, Fed officials met at the annual economic symposium in Jackson Hole, Wyoming. Fed Chairman, Jerome Powell, spoke at the event to share his thoughts on the current state of the economy and provide subtle hints on future guidance for interest rate strategy. The market was […]
Jackson Hole Symposium This upcoming week the Kansas City Fed will be hosting its annual symposium in Jackson Hole with this year’s theme being “Structural Shifts in the Global Economy”. The event from the 24-26th gathers some of the top central bankers, economists, financial organizations, and government leaders to discuss themes in policy. Federal Reserve […]
US Inflation Data Thursday, July’s US consumer price index (CPI) data, a key indicator of inflation, came in largely as expected. Consumer price growth now sits at 3.2% YoY with core–which excludes food and energy–at 4.7%. Though still significantly above the Fed’s 2% target, it’s positive that 90% of July’s increase was due to housing […]
Job Market Report In July, the U.S. nonfarm payrolls expanded by 187,000 jobs, slightly below the expected 200,000, indicating a slower pace in the economy. However, this number was still an improvement from the previous month’s revised figure of 185,000 jobs. The unemployment rate declined to 3.5%, beating the consensus estimate of 3.6% and remaining […]
Home Insurance Hikes and Coverage Falls Home insurers are implementing double-digit premium hikes, higher deductibles, and new coverage limits to regain profitability after experiencing losses in five of the past six years. They are shifting more risk onto homeowners, enforcing stricter underwriting restrictions, and implementing significant rate increases, according to analysts and insurance agents. This […]
News in the Market On Thursday, July 20th, the Dow Jones Industrial Average increased for the 9th consecutive day in a row, making it the Dow’s best positive streak since 2017. Dow added 163.97 points to its average, indicating strong performance from constituents like Johnson & Johnson, which rose 6% and topped Wall Street’s estimates. […]
