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☆ KPMG forecasts one interest rate cut in December
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKPMG forecasts one interest rate cut in DecemberDiane Swonk, chief economist at KPMG, and CNBC's Steve Liesman join 'The Exchange' to discuss April's jobs report, the Fed's rate decision, and more.

Persons: Diane Swonk, Steve Liesman Organizations: KPMG

☆ Fed remains 'between a rock and a hard place' after key PCE data, says G Squared's Victoria Greene
▼ + stars: | 2024-03-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed remains 'between a rock and a hard place' after key PCE data, says G Squared's Victoria GreeneCNBC's Morgan Brennan, Steve Liesman and Rick Santelli break down Friday's key personal consumption expenditure data. KPMG Chief Economist Diane Swonk and G Squared Private Wealth's Victoria Greene also discuss what the data means for the Fed and U.S. economy.

Persons: Victoria Greene CNBC's Morgan Brennan, Steve Liesman, Rick Santelli, Diane Swonk, Victoria Greene Organizations: KPMG, Fed Locations: U.S

☆ Federal Reserve Chair Jerome Powell Will Help Decide the 2024 Election
▼ + stars: | 2024-03-11 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

Beyond the academic argument, whether the Fed cuts interest rates has a significant political bearing this year. Voters are unhappy about higher prices, and they feel weighed down by high interest rates, too. Interest rates may seem abstract, but they can have a real impact on how people view their financial situations. But lowering interest rates should make people feel better about economic conditions and could give Democrats and Biden a boost. He's well aware lower interest rates would boost the economy, lift people's moods, and, ultimately, help the party in charge.

Persons: Jay Powell, — Donald Trump —, Powell, Joe Biden, Patrick McHenry, McHenry, Skanda Amarnath, it's, Larry Summers, Biden, Amarnath, — Trump, Hillary Clinton's, Richard Nixon, Ronald Reagan, Paul Volcker, Volcker, shied, Trump, Elizabeth Pancotti, Sarah Binder, Binder, what's, They've, Diane Swonk, Emily Stewart Organizations: Federal, Trump, Republican, Financial Services, Fed, Roosevelt Institute, George Washington University, Reserve, KPMG US, Business Locations: North Carolina, It's, America, Roosevelt

☆ What strong job growth means for rates
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat strong job growth means for ratesDiane Swonk, KPMG chief economist, joins 'The Exchange' with CNBC's Steve Liesman to discuss the timing of the first Fed rate cut after February employment data, the correlation between jobs data with housing, and more.

Persons: Diane Swonk, Steve Liesman Organizations: KPMG

☆ Key takeaways from the latest jobs report
▼ + stars: | 2024-03-08 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

“The economy remains strong, held up by a robust labor market,” wrote Christopher Rupkey, chief economist with FwdBonds, in a note Friday. Still, Friday’s jobs report also showed that the whopping gains initially recorded for January and December were revised down by a combined 167,000 jobs. January’s job gains now sit at an estimated 229,000 (down from the blowout 353,000); and December’s job growth at 290,000 (down from 333,000). In February, that included construction (up 23,000 jobs); transportation and warehousing (up 19,700 jobs); and retail (up 18,700 jobs). Friday’s jobs report showed that wage growth is indeed slowing.

Persons: ”, Christopher Rupkey, FwdBonds, “, ” Robert Frick, —, ” Diane Swonk, Swonk, February’s, ” Frick, Julissa Carielo, ” Swonk, Gus Faucher, Lydia Boussour, EY, Boussour, Janet Yellen, CNN’s Kate Bolduan, they’re, ” Yellen, Price, CNN’s Bryan Mena Organizations: New, New York CNN, of Labor Statistics, Navy Federal Credit Union, CNN, KPMG US, Health, Baby Boomers, Transportation Security Administration, DreamOn, Inc, Boomers, Fed, Labor, Federal, PNC Financial Services, “ Fed Locations: New York, San Antonio , Texas, Texas

NEW YORK (AP) — As some of the world’s biggest economies stumble into recession, the United States keeps chugging along. Yet in the United States, the economy motored ahead in last year’s fourth quarter for a sixth straight quarter of growth. But, for now, the outlook continues to appear better for the United States than many other big economies. Even China, whose economy is growing faster than the United States’, is under heavy pressure. Some pillars of support for consumer spending may be weakening.

Persons: Solita Marcelli, Biden, ”, Diane Swonk, They've, Catherine Mann, Morgan Stanley, Chris Kempczinski, he’s, ” ___ Rugaber Organizations: U.S, UBS Global Wealth Management, International Monetary Fund, KPMG, “, Federal, British, Bank of England, Bank of, Japan, Federal Reserve Locations: United States, Japan, United Kingdom, U.S, Government, Americas, Washington, Europe, Ukraine, China

☆ January jobs report: Expect to see strong but slower hiring and an uptick in the unemployment rate
▼ + stars: | 2024-02-02 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

New York CNN —The first jobs report for 2024, set to be released at 8:30 am ET Friday, is expected to underscore the strength of the US economy despite 11 rate hikes from the Federal Reserve. That can make the January jobs report among the trickiest to forecast, said Sarah House, a senior economist with Wells Fargo. Friday’s jobs report also will include the final annual benchmark review of payroll data for the 12 months that ended in March 2023. However, excluding January 2023, last month’s job cuts were the highest seen in January since 2009, according to Challenger. US worker productivity grew 3.2% in the fourth quarter, according to a BLS report released Thursday.

Persons: Jerome Powell, he’s, Sarah House, Wells, “ We’re, ”, there’s, Boussour, EY, ” Boussour, Daniel Zhao, Zhao, haven’t, ” Andrew Challenger, people’s paychecks, ” Diane Swonk, “, —, Swonk Organizations: New, New York CNN, Federal Reserve, Labor, Workers, Challenger, ”, BLS, KPMG, CNN Locations: New York, Wells Fargo, United States

☆ Fed Chair Powell says the job market is still strong. Here’s how the numbers break down
▼ + stars: | 2024-02-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

That can make the January jobs report among the trickiest to forecast, said Sarah House, a senior economist with Wells Fargo. Friday’s jobs report also will include the final annual benchmark review of payroll data for the 12 months that ended in March 2023. Fresh data on job cuts and productivityOn Thursday, the layoff picture became clearer. However, excluding January 2023, last month’s job cuts were the highest seen in January since 2009, according to Challenger. US worker productivity grew 3.2% in the fourth quarter, according to a BLS report released Thursday.

Persons: Jerome Powell, he’s, Sarah House, Wells, “ We’re, ”, there’s, Boussour, EY, ” Boussour, Daniel Zhao, Zhao, haven’t, ” Andrew Challenger, people’s paychecks, ” Diane Swonk, “, —, Swonk Organizations: New, New York CNN, of Labor Statistics, Federal Reserve, Labor, Workers, Challenger, ”, BLS, KPMG, CNN Locations: New York, Wells Fargo, United States

☆ KPMG's Diane Swonk: Expect four rate cuts in 2024
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKPMG's Diane Swonk: Expect four rate cuts in 2024Diane Swonk, KPMG chief economist, joins 'The Exchange' to discuss cooling inflation, timeline for rate cuts, and more.

Persons: Diane Swonk Organizations: KPMG

☆ We are only done with rate hikes if the bond market doesn't rally too much: KPMG's Diane Swonk
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are only done with rate hikes if the bond market doesn't rally too much: KPMG's Diane SwonkDiane Swonk, chief economist at KPMG, joins 'Squawk on the Street' to discuss what's keeping the market in a good mood, whether the Federal Reserve still has work to do, and more.

Persons: Diane Swonk Diane Swonk Organizations: KPMG, Federal Reserve

☆ US homebuyers are waiting for the Fed to start cutting interest rates. Here's when 10 experts say it's going to happen.
▼ + stars: | 2023-11-24 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Mortgage rates could decline if the Federal Reserve cuts interest rates next year. Here are 10 projections from experts on when the Fed's first rate cut will come. While these factors serve as deterrents for prospective buyers, interest rates may not stay this high forever. AdvertisementWhile declining interest rates wouldn't directly cause mortgage rates to fall, the two tend to move in the same direction. FebruaryIn August, Preston Caldwell, a Morningstar senior US economist, wrote in a note that he expected the Fed to start cutting interest rates in February.

Persons: —, Preston Caldwell, Arend Kapteyn, Bhanu Baweja, David Einhorn, Diane Swonk, Andrew Hollenhorst, Goldman Sachs, David Mericle, we'll, Simona Mocuta, Jeff Morton Organizations: Federal Reserve, Service, Federal, Morningstar, UBS, KPMG, Citi, Reuters, State Street Global Advisors, DWS Locations: North America's

☆ We could see wages pick up again by the end of the year, says KPMG's Diane Swonk
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe could see wages pick up again by the end of the year, says KPMG's Diane SwonkDiane Swonk, chief economist at KPMG, and CNBC's Steve Liesman join 'The Exchange' to discuss October's job report, whether the Fed will raise rates in 2024, and more.

Persons: Diane Swonk Diane Swonk, Steve Liesman Organizations: KPMG

☆ After a robust third quarter, US economic growth will likely slow. That's good for the prospect of rate cuts next year.
▼ + stars: | 2023-10-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The central bank also doesn’t have any incentive to restrict the economy through elevated interest rates if inflation is already under control. The US central bank has raised interest rates 11 times since March 2022 to their highest level in 22 years. The US Commerce Department reports new home sales in September. The US Commerce Department reports third-quarter gross domestic product along with September figures on new durable-goods orders. The US Labor Department reports the number of new applications for jobless benefits in the week ended October 21.

Persons: Jerome Powell, ” Gregory Daco, ” Diane Swonk, Donald Trump, Colin Kaepernick’s, Bud Light’s, Elliott Gotkine, ”, Jeffrey Sonnenfeld, “, Satya Nadella, ” Sundar Pichai, , Sherwin, Williams, Clark, General, Hess, Rowe Price Organizations: CNN Business, Bell, DC CNN, The Commerce Department, Federal Reserve, Treasury, KPMG, BlackRock, America, Nike, Yale School of Management, Microsoft, ” Disney, Sonnenfeld, Tottenham Hotspur, Whirlpool, Verizon, General Electric, Barclays, 3M, General Motors, Spotify, Quest Diagnostics, Mobile, Boeing, General Dynamics, Old Dominion, Hilton, Meta, IBM, US Commerce Department, Mastercard, Merck, Comcast, UPS, Myers Squibb, Northrop Grumman, Valero, The Hershey Company, Amazon, Intel, European Central Bank, US Labor Department, National Association of Realtors, Exxon Mobil, Chevron, Colgate, Palmolive, Phillips, University of Michigan Locations: Washington, EY, Israel, United States, United Kingdom, London, Gaza, Kimberly, Haliburton, Old, Bristol, AbbVie

☆ Today's jobs report reveals a strong economy despite cooling inflation, says KPMG's Diane Swonk
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailToday's jobs report reveals a strong economy despite cooling inflation, says KPMG's Diane SwonkDiane Swonk, chief economist at KPMG, joins 'The Exchange' to discuss what today's jobs number says about the economy's strength, bond yields doing the work for the Fed, and ongoing union contract disputes impacting the jobs market.

Persons: Diane Swonk Diane Swonk Organizations: KPMG, Fed

☆ US economy added 336,000 jobs last month, almost twice what was expected
▼ + stars: | 2023-10-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

The US economy added an estimated 336,000 jobs last month, blowing expectations out of the water, according to Bureau of Labor Statistics data released Friday. In September, leisure and hospitality helped drive job growth higher, with 96,000 jobs added. Today’s headline jobs number — that surprising 336,000 net job gain — is an initial estimate that will be revised twice more. The surprising September jobs report, however, didn’t continue that streak. August’s second look has job growth now at 227,000 for the month, an increase of 40,000.

Persons: ”, Sung, Soh, Joe Biden, “, it’s, ” Biden, Andrew Patterson, ” Patterson, they’ve, Jim McCoy, we’re, ” Daniel Zhao, Glassdoor’s, ” Julia Pollak, didn’t, ” Diane Swonk, — CNN’s Tami Luhby Organizations: Minneapolis CNN, of Labor Statistics, Loyola Marymount University, SS Economics, BLS, Federal Reserve, Dow, Nasdaq, Bureau of Labor Statistics, Vanguard, Fed, Administration, Children, Families, Nationwide, Century, CNN Locations: Minneapolis, United States

☆ US homebuyers are waiting for the Fed to start cutting interest rates. Here's when 9 experts say it's going to happen.
▼ + stars: | 2023-09-18 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Mortgage rates could decline if the Federal Reserve cuts interest rates next year. Here are nine projections from experts on when the Fed's first rate cut will come. While these factors serve as deterrents for prospective buyers, interest rates may not stay this high forever. AdvertisementAdvertisementWhile declining interest rates wouldn't directly cause mortgage rates to fall, the two tend to move in the same direction. AdvertisementAdvertisementFebruaryOn August 31, Preston Caldwell, a Morningstar senior US economist, wrote in a note that he expected the Fed to start cutting interest rates in February.

Persons: Bob Michele, J.P, —, we'll, Preston Caldwell, David Einhorn, Diane Swonk, Andrew Hollenhorst, Goldman Sachs, David Mericle, Simona Mocuta, Jeff Morton Organizations: Federal Reserve, Service, Federal, Bloomberg Television, Morgan Asset, Morningstar, KPMG, Citi, Reuters, State Street Global Advisors, DWS Locations: Wall, Silicon, North America's

☆ The UAW strike fallout may quickly begin to snowball, says KPMG's Diane Swonk
▼ + stars: | 2023-09-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe UAW strike fallout may quickly begin to snowball, says KPMG's Diane SwonkDiane Swonk, chief economist at KPMG, joins 'The Exchange' to discuss the fallout a UAW strike could have on employment data, China's growth as a global exporter of electric vehicles, and shifting production worldwide due to ongoing trade tariffs.

Persons: Diane Swonk Diane Swonk Organizations: UAW, KPMG

☆ The Fed doesn't expect to cut rates as rapidly as it hiked them, says KPMG's Diane Swonk
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed doesn't expect to cut rates as rapidly as it hiked them, says KPMG's Diane SwonkDarrell Cronk, Wells Fargo CIO for wealth & investment management, and Diane Swonk, KPMG chief economist, join 'Squawk on the Street' to discuss central bank policy around the globe, a rotation in consumer spending, and student loan repayments slowing growth.

Persons: Diane Swonk Darrell Cronk, Diane Swonk Organizations: KPMG Locations: Wells

☆ The Fed is not about to change its inflation target anytime soon, says KPMG's Diane Swonk
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is not about to change its inflation target anytime soon, says KPMG's Diane SwonkDiane Swonk, KPMG chief economist, joins 'Squawk on the Street' to discuss Swonk's thoughts on the state of the consumer, the appetite for the Federal Reserve to adjust their inflation target, and more.

Persons: Diane Swonk Diane Swonk Organizations: KPMG, Federal Reserve

☆ Labor market has held up, as weaker sectors hand the baton to stronger ones, says KPMG's Diane Swonk
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLabor market has held up, as weaker sectors hand the baton to stronger ones, says KPMG's Diane SwonkDiane Swonk, KPMG chief economist, and CNBC's Steve Liesman join 'The Exchange' to discuss the jobs report falling short of estimates, an increase in the over sixty-five labor participation rate and the path to a soft landing.

Persons: Diane Swonk Diane Swonk, Steve Liesman Organizations: Labor, KPMG

☆ The US economy grew stronger than expected in the second quarter
▼ + stars: | 2023-07-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —The US economy picked up steam in the second quarter despite punishing rate hikes and still-high inflation, the Commerce Department reported Thursday. Economic growth in the second quarter was driven by business investment, government purchases, inventory investment and consumer spending, though at a much weaker pace than in the first quarter. Consumer spending, which accounts for about two-thirds of economic output, grew at just a 1.6% rate in the second quarter, down sharply from a 4.2% rate in the first three months of the year. Nonresidential business investment rose sharply to a 7.7% growth rate in the second quarter, up from a 0.6% rate in the beginning of the year. The GDP report showed that spending on structure slowed to a 9.7% rate in the second quarter from a 15.8% rate in the prior one.

Persons: “, Lydia Boussour, ’, ” Shannon Seery, Seery, —, ”, Diane Swonk, Thursday’s, Carol Schleif, Jerome Powell Organizations: Washington CNN, Commerce Department, Gross, Federal Reserve, Fed, CNN, Employers, Wells, Investment Bank, Manufacturers, KPMG, restrengthens Investors, BMO Family Office, Investors, “ Locations: EY

☆ The U.S. Federal Reserve isn't trying to get ahead of itself anymore, KPMG says
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. Federal Reserve isn't trying to get ahead of itself anymore, KPMG saysDiane Swonk, chief economist at KPMG, says there's unlikely to be another "mic drop" moment — like U.S. Federal Reserve Chair Jerome Powell's 8-minute speech last year — at the next Jackson Hole meeting.

Persons: Diane Swonk, Jerome Powell's, Jackson Organizations: . Federal, KPMG, Federal

"Financial markets have consistently front-run the Fed ... That has already eased credit conditions and could stoke an acceleration in growth." Reuters GraphicsBALANCING RISKSIn the six weeks since their June 13-14 meeting, Fed policymakers have digested data offering a mirror image of what they faced a year ago. Signs of a slowdown are there, to be sure, and some policymakers expect more weakness is coming - an argument for caution in considering further rate increases. Still, unless there's a sharp drop in activity soon, it could mean Fed officials have underestimated the economy's strength and may become doubtful about the prospect of a continued decline in inflation. That will likely keep the door open to more rate increases - for now.

Persons: Diane Swonk, Jerome Powell, That's, Tim Duy, Duy, Powell, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal, KPMG, stoke, Reuters, Fed, Atlanta Fed, SGH Macro, Thomson Locations: U.S

Last year, as policymakers relentlessly raised interest rates to combat the fastest inflation in decades, forecasters began talking as though a recession — economic contraction rather than growth — was not a question of “if” but “when.” Possibly in 2022. As recently as December, less than a quarter of economists expected the United States to avoid a recession, a survey found. But the year is more than half over, and the recession is nowhere to be found. Not even in the housing market, the industry that is usually most sensitive to rising interest rates, which has shown signs of stabilizing after slumping last year. All of which is leading economists, after a year spent being surprised by the resilience of the recovery, to wonder whether a recession is coming at all.

Persons: ”, Diane Swonk Organizations: KPMG US Locations: United States

☆ Rejection rates on new loan applications have hit the highest since 2013, says KPMG's Diane Swonk
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRejection rates on new loan applications have hit the highest since 2013, says KPMG's Diane SwonkDiane Swonk, chief economist at KPMG, and CNBC's Steve Liesman join 'The Exchange' to discuss increased rejection rates on new loans, the Fed's policy plan through November, and the spillover effects of ongoing labor strikes in America.

Persons: Diane Swonk Diane Swonk, Steve Liesman Organizations: KPMG Locations: America

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