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☆ Mortgage rates jump back over 7% as stronger economic data rolls in
▼ + stars: | 2024-02-05 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Mortgage rates have been on a wild ride since the summer, briefly crossing to a 20-year high of 8% in October. Mortgage rates do not follow the Fed directly, but they follow loosely the yield on the 10-year Treasury, which is heavily influenced by the central bank's impression of the economy at any given time. As mortgage rates fell over the past two months, buyers seemed to be returning to the market. Mortgage applications to purchase a home had been rising steadily, but fell back in the last few weeks, as mortgage rates edged higher. "If we see more data like last Friday's jobs report, rates will have a hard time getting back below 7%.

Persons: Li Jianguo, Matthew Graham, Michael Fratantoni, Graham Organizations: National Association of Realtors, Getty, Mortgage News, Federal, Treasury, Fed, Mortgage, Association . Mortgage, CNBC PRO Locations: Millbrae , California, United States, Xinhua

☆ Workers Keep Getting Big Raises, Just Not as Much as Last Year
▼ + stars: | 2023-10-31 | by ( Gwynn Guilford | Nick Timiraos | ) www.wsj.com time to read: 1 min

WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressAmerican workers are still commanding big pay raises, though not quite as beefy as last year. That is good news for workers but a potential complication for the Federal Reserve’s fight to lower inflation. Employers spent 1.1% more on wages and benefits in July through September than in the prior three months, according to the Labor Department’s employment-cost index, released Tuesday. That was slightly better than the 1% gain in the second quarter and a sign that wage pressures remained strong as economic growth accelerated.

Persons: WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press American, Federal, Employers, Labor

☆ Higher Bond Yields Could End the Fed’s Historic Rate Rises
▼ + stars: | 2023-10-30 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressFederal Reserve officials have said for more than a year that beating inflation could require them to hold interest rates higher for longer than investors expected. The swift run-up in long-term Treasury yields—to around 5% from 4% in early August—suggests Wall Street now agrees. As a result, borrowing costs for U.S. businesses and households are rising in ways that could allow the Fed to suspend its historic run of interest-rate increases.

Persons: WSJ’s Dion Rabouin, Li Jianguo, — Organizations: Zuma Press Federal Reserve

☆ What the Latest U.S. GDP Report Means for Inflation and Odds of Recession
▼ + stars: | 2023-10-27 | by ( ) www.wsj.com time to read: 1 min

What the Latest U.S. GDP Report Means for Inflation and Odds of RecessionWSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma Press

Persons: Dion Rabouin, Li Jianguo Organizations: Zuma Locations: U.S

☆ Inflation Trends Likely to Keep Fed Rate-Hike Pause on Track
▼ + stars: | 2023-10-27 | by ( Harriet Torry | ) www.wsj.com time to read: +2 min

Moderately higher inflation in September would keep Fed officials on track to hold interest rates steady at its Oct. 31-Nov. 1 policy meeting. They are closely watching underlying price trends to gauge whether they have raised short-term interest rates enough to slow the economy and tame inflation. The Fed over the past 20 months has raised interest rates at the fastest pace in four decades. The Fed last raised rates in July, lifting its benchmark federal-funds rate to a range between 5.25% and 5.5%, a 22-year high. Has recent inflation progress stalled?

Persons: WSJ’s Dion Rabouin, Li Jianguo, saul loeb Organizations: Zuma, Wall, Fed, Agence France, Commerce, Commerce Department

☆ Inflation Trends Keep Fed Rate Hikes on Pause
▼ + stars: | 2023-10-27 | by ( Harriet Torry | Nick Timiraos | ) www.wsj.com time to read: 1 min

WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressInflation’s summer decline slowed last month. But inflation has improved enough recently for Federal Reserve officials to hold interest rates steady at their meeting next week. The personal-consumption expenditures price index, the Fed’s preferred inflation gauge, rose 0.4% in September from the prior month, the same pace as in August, the Commerce Department said Friday. So-called core prices, which exclude volatile food and energy categories, increased 0.3% in September, compared with a 0.1% rise in August.

Persons: WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press, Federal Reserve, Commerce Department

☆ What Will the Economy Do for an Encore?
▼ + stars: | 2023-10-26 | by ( Justin Lahart | ) www.wsj.com time to read: 1 min

Economists expected economic growth to rise significantly and now that we’ve got the latest GDP report, we’ll break down the biggest takeaways in the data. WSJ’s Dion Rabouin will unpack the report and explain what really matters. Photo: Li Jianguo/Zuma PressA lot of investors are familiar with Stein’s law, named after the late economist Herbert Stein : “If something cannot go on forever, it will stop.”Which brings us to Thursday’s gross-domestic-product report. The Commerce Department reported that the U.S. economy grew at an inflation-adjusted 4.9% annual rate, the biggest gain since the fourth-quarter of 2021, and far stronger than the less-than-2% rate that Federal Reserve policymakers think it needs to settle in at to avoid overheating.

Persons: we’ve, WSJ’s Dion Rabouin, Li Jianguo, Herbert Stein Organizations: Commerce Department, Federal Locations: U.S

☆ U.S. Economy Grew at 4.9% Rate This Summer, Powered by Fast-Spending Americans
▼ + stars: | 2023-10-26 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

Economists expected economic growth to rise significantly and now that we’ve got the latest GDP report, we’ll break down the biggest takeaways in the data. WSJ’s Dion Rabouin will unpack the report and explain what really matters. Photo: Li Jianguo/Zuma PressU.S. economic growth surged this summer, as consumers boosted spending ahead of growing challenges that could limit their ability to maintain the momentum. Gross domestic product grew at a seasonally- and inflation-adjusted 4.9% annual rate in the third quarter, the Commerce Department reported Thursday. That was the fastest rate since late 2021 and much stronger than economists were anticipating just a few months ago.

Persons: we’ve, WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press U.S, Gross, Commerce Department

☆ U.S. Economy Grew a Strong 4.9%, Driven by Consumer Spree That May Not Last
▼ + stars: | 2023-10-26 | by ( Amara Omeokwe | Gwynn Guilford | ) www.wsj.com time to read: 1 min

WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressU.S. economic growth surged this summer at the fastest pace since 2021, as consumers spent at a blockbuster rate that will be difficult to sustain. Gross domestic product expanded at a 4.9% seasonally- and inflation-adjusted annual rate in the third quarter—more than double the second quarter pace—the Commerce Department reported Thursday. The acceleration won’t change the Federal Reserve’s plans to hold rates steady at their meeting next week.

Persons: WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press U.S, Gross, Commerce Department

☆ Here's what's getting cheaper at the grocery store
▼ + stars: | 2023-04-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

New York CNN —Grocery prices finally dipped in March, falling for the first time since September 2020, according to data released Wednesday by the Bureau of Labor Statistics. The meats, poultry, fish and eggs index fell 1.4%, pulled down by another month of large decreases in egg prices. In the year through March, grocery prices jumped 8.4%, outpacing overall inflation of 5%. Grocery prices finally fell in March. But more recently, egg prices have been coming down.

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