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☆ A crucial report Wednesday is expected to show little progress against inflation
▼ + stars: | 2024-04-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Scott Olson | Getty ImagesA closely watched Labor Department report due Wednesday is expected to show that not much progress is being made in the battle to bring down inflation. To be sure, inflation has come down dramatically from its peak above 9% in June 2022. That showed headline inflation running at 2.5% and the core rate at 2.8% in February. For their part, markets have grown nervous about the state of inflation and how it will affect rate policy. "I don't see a whole lot here that is going to move things magically the way they want to go," North said.

Persons: Scott Olson, We're, Dan North, North, they've Organizations: Getty, Labor Department, Federal Reserve, Allianz Trade North America, Fed, Commerce, PCE Locations: Chicago , Illinois

☆ Job gains expected again in March. Here are all the things to look for in Friday's report
▼ + stars: | 2024-04-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Job growth is expected to come in at 200,000 for the period, according to the Dow Jones consensus forecast. That will be just one of several key areas in focus when the report is released at 8:30 a.m. The job market's resilience has confounded many economists who spent the past two years searching for a jobs-led recession that never happened. Household employment, which counts individual workers rather than total jobs and is used to calculate the unemployment rate, has fallen by nearly 1 million since November. The survey is more volatile and uses a much smaller sample than the establishment count that yields the headline payrolls growth total.

Persons: Timothy Aeppel, nonfarm payrolls, Dow, Dan North, Goldman Sachs, Luke Tilley, Stocks Organizations: Labor Department, Allianz Trade, Wilmington Trust Locations: Oxnard , California, Wilmington

☆ Here’s why high interest rates haven’t caused a US recession
▼ + stars: | 2024-03-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

America’s economy remains remarkably solid, despite the high interest rates. The Fed dramatically cut interest rates in the early days of the Covid-19 pandemic to help shore up an economy dealing with high unemployment, prompting mortgage rates to also drop in tandem. Those homeowners who locked in an affordable 3% mortgage rate, for instance, aren’t likely to trade it for anything higher. Fed officials reflected in their latest economic projections from December that they expect to cut interest rates three times this year, which would also lower mortgage rates. That all means that Americans have been well equipped to deal with the effects of high interest rates.

Persons: Jerome Powell, ” Powell, ” Dan North, Freddie Mac, ” Karen Manna, Federated Hermes, “, ”, Powell Organizations: DC CNN, Federal Reserve, Reserve, CBS, Allianz Trade, CNN, Fed, Employers, Consumer Finances, Federated Locations: Washington

☆ U.S. job growth totaled 275,000 in February but unemployment rate rose to 3.9%
▼ + stars: | 2024-03-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

watch nowJob creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn't nearly as hot as initially reported. Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%, the Labor Department's Bureau of Labor Statistics reported Friday. The jobless level increased as the household survey, used to calculate the unemployment rate, showed a decline of 184,000 in those employed. The increase came even though the labor force participation rate held steady at 62.5%, though the "prime age" rate increased to 83.5%, up two-tenths of a percentage point. An alternative jobless measure, sometimes called the "real" unemployment rate, that includes discouraged workers and those holding part-time jobs for economic reasons rose slightly to 7.3%.

Persons: Nonfarm, Dow Jones, Stocks, It's, Liz Ann Sonders, Charles Schwab, Dan North, Jerome Powell Organizations: Labor Department's Bureau of Labor Statistics, Federal Reserve, Dow Jones, Treasury, Government, Futures, Allianz Trade, Capitol

Still, that is considerably below where inflation was in 2022 and much of last year. Along with the health of the labor market, the Fed considers inflation among the key economic data points to watch as it looks to start cutting interest rates this year. “If inflation comes in below expectation, the markets will cheer the welcome news that the economy and the job market can remain solid without increasing inflation. On Friday, more inflation data will be released with the January producer price index – a measure of what businesses pay for the products and services they sell. The PPI is often a predictor of future inflation as it shows prices that are early in the pipeline and often passed on to consumers.

Persons: ”, Skyler Weinand, Regan, Venkat Balakrishnan, Jerome Powell, “, Dan North, “ Powell, Melissa Brown, Signifyd, ” Signifyd Organizations: Labor, Federal Reserve, Dow, Industrial, Regan Capital, Fed, Federal Reserve Bank of Atlanta, Allianz Trade, ”, PPI Locations: North America

☆ Even with progress on inflation and solid growth, the Fed will want to see more before cutting rates
▼ + stars: | 2024-01-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Solid economic economic growth combined with decelerating inflation feels like the perfect combination for the Federal Reserve to dial down its restrictive monetary policy. More broadly, though, the resilient nature of the economy brought the Fed closer to its goal of arresting inflation without crushing growth. On the balance between the threat of overheating growth and the positive developments on inflation, Bovino thinks the Fed will be more inclined to cast a wary eye on the growth side. "They have their work cut out for them." "They want to make absolutely sure inflation is killed, and they're not going to cut rates until that is the case."

Persons: Beth Ann Bovino, there's, Bovino, they'll, Bill Adams, Jerome, Powell, Gus Faucher, haven't, Dan North, they're Organizations: Federal Reserve, U.S . Bank, Commerce Department's, Economic, CME Group, Comerica Bank, Fed, PNC Financial Services, North America, Allianz Trade

☆ Inflation is still a mixed bag, but markets don't care. They see big Fed rate cuts ahead
▼ + stars: | 2024-01-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

December's inflation data provided just enough evidence to show that the pace of price increases is continuing to cool while also serving up a reminder that the war isn't won yet. One is that regardless of the headline numbers, the parts of inflation that don't fluctuate as much have been fairly stubborn. So-called sticky inflation, which includes things such as housing costs, auto insurance, medical care services and household furnishings, are indeed holding higher. On a one-month annualized basis, the measure also was at 4.6%, but that's up a full percentage point from the previous month. Fed policymakers also are attuned to the relationship between wages and inflation.

Persons: isn't, Disinflation, Jamie Dimon, cautioning, Krishna Guha, Goldman Sachs, Goldman, Ian Shepherdson, Dan North Organizations: Separate Labor Department, Federal Reserve, Nomura Global Economics, JPMorgan Chase, Evercore ISI, PPI, Citigroup, Commerce, Fed, Pantheon, Atlanta, Allianz Trade Locations: Red

The monthly decline in the producer price index was the largest since April 2020, when the country was facing the shock of the COVID-19 pandemic. Excluding energy and food costs, the core index is now at 2.9% annualized, slightly above where it stood in September. Analysts had predicted a monthly drop of 0.1% and an annual rate of 1.9% for the overall index. It was the second reading in as many days that showed inflation receding closer to the Federal Reserve’s 2% annual target. The core index, leaving out energy and food costs, came in at 4%.

Persons: ” Kathy Jones, John Sedunov, ”, Jerome Powell, “, Wells, Dan North Organizations: of Labor Statistics, “, Analysts, Schwab Center, Financial Research, Dow Jones, Research, Villanova University, International Monetary Fund, Treasury, Census, North America, Allianz Trade, Consumers Locations: Washington, U.S

☆ US stocks rise as bond yields pull back from 16-year highs
▼ + stars: | 2023-10-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US stocks moved higher on Wednesday, while bond yields declined Tuesday's highs. ADP reported private payrolls climbed 89,000 in September, below forecasts of 160,000. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementUS stocks moved higher on Wednesday, as the 10-year US Treasury yield retreated slightly after hitting 16-year highs.

Persons: payrolls, —, Dow Jones, Dan North, Quincy Krosby Organizations: Treasury, Service, Dow Jones Industrial, Nasdaq, Federal Reserve, Fed, Allianz Trade North, JPMorgan, Dow Jones Locations: Allianz Trade North America

☆ The Fed Keeps Hiking Interest Rates. Here’s Why You Should ‘Absolutely’ Act Now for Better Savings and CD Rates
▼ + stars: | 2023-02-01 | by ( ) www.wsj.com time to read: +6 min

By Martha C. WhiteThe Fed is set to send savings and CD rates higher yet again. On Wednesday, the Fed announced a quarter-percentage-point interest rate increase to its benchmark federal-funds rate, following its Jan. 31-Feb.1 meeting. Policy makers’ economic projections released in December show that Fed officials don’t expect inflation to hit 2.1% until 2025. “It’s going to be slow, but I think the trend is going to be higher” rates. If that’s your bank, he adds, you “absolutely should be taking advantage of a higher rate savings account.”

☆ Cyber Monday sets sales record as shoppers splurge on toys, electronics- report
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

Toys were the hottest products on Cyber Monday, their online sales jumped nearly eight-fold compared to an average day in October 2022, according to the Adobe Analytics report. Electronics sales rose about five-fold, while sporting goods, appliances and books also saw increases over 400%. About 196.7 million shoppers made purchases during the five-day holiday period from Thanksgiving Day through Cyber Monday, the National Retail Federation said on Tuesday. Reuters Graphics Reuters GraphicsCanada's Shopify Inc (SHOP.TO) said its merchants recorded $7.5 billion in sales globally from Black Friday through Cyber Monday. Still, some experts were not convinced that a bright Cyber Monday was a sign of inflation easing its burden on consumer sentiment.

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