A downward revision to previously released job market data might be enough to spur interest rate cuts. But the damage to the paycheck-to-paycheck economy — to all consumers, in fact, and especially to the most vulnerable, low-income consumers — may have already been done. The...
Firms’ year-ahead inflation expectations remained “relatively unchanged” in August, staying just above where they were before the pandemic, the Federal Reserve Bank of Atlanta said Wednesday (Aug. 21). On average, firms expect inflation of 2.2%, according to the Atlanta Fed’s Wednesday press release about its Business Inflation...
Economists at Goldman Sachs have lowered the likelihood of a U.S. recession. As Bloomberg News reported Saturday (Aug. 17), the banking giant now gives an economic downturn a 20% chance of happening, down from 25%, based on recent retail sales and unemployment claims data. And...
Things may get better over the longer term, but right now things are tough. To that end, the University of Michigan’s Consumer Sentiment Index, gauging the overall mindset on everything from politics to inflation, was higher for the month of August thus far — just...
Consumer sentiment has remained fairly steady thus far in August, inching up 2.1% compared to the previous month and down 2.3% compared to August 2023. This is the fourth consecutive month in which sentiment remained about the same, according to preliminary results from the University...
The urge to splurge resurged in July as consumers shrugged off inflation and visited on-site retailers to conduct their everyday spending. As reported by the Commerce Department on Thursday (Aug. 15), retail sales, unadjusted for inflation, were up 1% in July, well above the consensus...
Inflation is at a multiyear low, according to July’s Consumer Price Index from the U.S. Department of Labor. Inflation has broken through an important psychological barrier, so to speak. The Federal Reserve’s impetus to cut interest rates may have just gotten a bit stronger. But...
Business leaders in the United States are reportedly growing more optimistic about the likely trend of inflation. CEOs and other top executives said in July that they expect inflation to be 3.4% over the next 12 months, an expectation that is down from the 3.8%...
The latest reading on consumers’ expectations about inflation — where it’s headed one year from now, three years from now, five years from now — has some good news, and some less good news. On the positive side, expectations are that inflation’s going to tick...
