MARKETS Fed Chair Jerome Powell Expects Large September Rate Hike as the Fed is under continuing pressure for another 75 basis-point interest rate hike at its upcoming meeting next month as data on Friday showed job gains despite high inflation and rising costs. The Federal Reserve’s anti-inflation measures appear likely to drive higher unemployment that … Read more
GOVERNMENT REPORT SERIES U.S. employers added 528,000 jobs in July, the Labor Department said on Friday, an unexpectedly strong gain that shows the labor market is withstanding the economic impact of higher interest rates, at least so far. “There’s a feeling that the labor market is moving back into balance,” Jerome H. Powell, the Fed … Read more
GOVERNMENT REPORT SERIES Initial claims for unemployment insurance totaled 260,000 last week, in line with estimates The four-week moving average of jobless claims number rose 6,000 from the previous week to 254,750, up sharply from the recent low of 170,500 on April 2 and the highest level of the year. Jobless claims had been running … Read more
GOVERNMENT REPORT SERIES Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022, according to the “advance” estimate released by the Bureau of Economic. Real GDP decreased less in the second quarter than in the first quarter, decreasing 0.9 percent after decreasing 1.6 percent. According to … Read more
GOVERNMENT REPORT The Chicago Fed National Activity Index (CFNAI) is a monthly index designed to better gauge overall economic activity and inflationary pressure. The index is composed of 85 economic indicators from four broad categories of data: production and income; employment, unemployment and hours; personal consumption and housing; and sales, orders and inventories. JUNE REPORT … Read more
INVESTOR SERIES Federal Reserve officials signaled on Friday they will likely stick with a 75-basis-point interest rate increase at their July 26-27 meeting, though a recent high inflation reading could still warrant more, or faster, increases later in the year. Friday economic data Economic data released on Friday pushed against a rush to larger rate … Read more
GORVEMENT REPORT SERIES In the week ending July 9, seasonally adjusted initial claims was 244,000, an increase of 9,000 from the previous week’s level of 235,000. The four week average has gone 14 consecutive weeks without a decline, however… Prior to last November initial claims remain low A tight labor market restricts consumer spending. … Read more
GOVERNMENT REPORT SERIES As expected “cause of energy”, the Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 9.1 percent before seasonal … Read more
GOVERNMENT REPORT SERIES Background: The Consumer Price Index (CPI) measures the average change in the prices paid for a market basket of goods and services. These items are purchased for consumption by the two groups covered by the index: All Urban Consumers (CPI-U) and Urban Wage Earners and Clerical Workers, (CPI-W). Expect that the market … Read more
GOVERNMENT REPORT SERIES Payroll employment rises by 372,000 in June; unemployment rate remains at 3.6%. Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent. Notable job gains occurred in professional and business services, leisure and hospitality, and health care. Market context The economy was expected to have … Read more