After a historic run-up in inflation, Americans are now starting to see something they haven’t in three years: deflation. To be sure, deflation—that is, falling prices—is largely confined to appliances, furniture, used cars and other goods. Economywide deflation, when prices of most goods and services continuously… Read More »Goods Deflation Is Back. It Could Speed Inflation’s Return to 2%.
Profits have been making a comeback. That makes a comedown for the U.S. economy seem less likely. The Commerce Department on Wednesday reported that before-tax corporate profits rose 1.1% from a year earlier in the third quarter. This compares with a decline of 6% in the… Read More »How Rising Profits Could Prevent the Economy From Faltering
Treasury Secretary Janet Yellen said she sees a good chance of the US economy achieving a soft landing, with the unemployment rate — which has ticked up in recent months — averting a sharp increase. “Signs are very good that we’ll achieve a soft landing,… Read More »Yellen Says Soft Landing Looks Good, Unemployment May Level Off
Global stocks have closed out their biggest monthly rally in three years, as investors pile into risky assets in the growing belief that the Federal Reserve and other big central banks are close to winning their battle with inflation. The MSCI All-Country World index rose… Read More »Global stocks record best month in three years on interest rate cut hopes
The numbers: Initial jobless claims rose 7,000 to 218,000, in the week ending Nov. 25, the Labor Department said Thursday. Economists polled by The Wall Street Journal had estimated new claims would rise 11,000 to 220,000. Last week, claims rose a revised 22,000 to 211,000. That… Read More »Jobless claims tick higher in latest week, reaching highest level in 2 years
KEY POINTS Inflation as measured by personal spending increased in line with expectations in October, possibly giving the Federal Reserve more incentive to hold rates steady and perhaps start cutting in 2024, according to a data release Thursday. The personal consumption expenditures price index, excluding… Read More »Fed’s favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected
(Bloomberg) — Federal Reserve Governor Michelle Bowman said she expects to support additional tightening of monetary policy to return inflation to the central bank’s goal. “My baseline economic outlook continues to expect that we will need to increase the federal funds rate further to keep… Read More »Fed’s Bowman Favors Hiking Rates If Inflation Progress Stalls
WASHINGTON (AP) — Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate. The government had previously estimated that the… Read More »US economic growth for last quarter is revised up to a 5.2% annual rate
The rally that led the S&P 500 to one of its best November gains in a century is now running out of steam, according to Citigroup Inc. strategists. The team led by Chris Montagu said futures flows last week were “mixed,” leaving net positioning in… Read More »Sharp US Stock Rally Is Running Out of Steam, Citi Strategists Say
KEY POINTS Holiday shopping this year is expected to reach record spending levels, according to the National Retail Federation. But as consumers open their wallets, they may also be making themselves vulnerable to potential fraud, particularly when shopping at the last minute. “Procrastination is, quite frankly, one of… Read More »You may be at risk for fraud this holiday season, particularly if you shop at the last minute. Here’s why