On Friday, the U.S. Bureau of Labor Statistics released a highly anticipated employment report that could be one of the most important pieces of economic news this year. The report gives an employment picture that will be crucial to interest rate decisions made by the Federal Reserve at its September 18 meeting later this month....
Earlier this month, the U.S. Labor Department reported that job growth slowed in July and that unemployment hit 4.3%, the highest rate since October 2021. The weaker-than-expected report prompted Goldman Sachs to raise the odds of a recession from 15% to 20% and JPMorgan Chase to up the chances from 25% to 35%. Based on...
A senior economist expects multiple cuts in the federal funds rate (the rate banks pay that ripple out to consumer interest rates on everything from credit cards to mortgages) before the year ends. On Wednesday, the Federal Reserve released meeting minutes for the Federal Open Market Committee meeting held on July 30 and July 31....
Inflation is now at 2.9%, marking the first time it has fallen below 3% since March 2021. Wednesday’s Consumer Price Index (CPI) report, which tracks the prices of essential goods and services and helps the U.S. Federal Reserve determine economic policy, found that prices rose 2.9% in July compared to July 2023. This could mean...