DIRS.INFO The most relevant business & tech news

Rising gasoline and housing prices led inflation to increase 0.4% in February, the Bureau of Labor Statistics reported on Tuesday. The food index was unchanged in February, as was the food at home index. Meanwhile, a recent report on consumer spending from Mastercard found that retail sales excluding autos were up in February, with online retail sales up more than 9.1%. The Census Bureau is scheduled to release retail sales for February on Thursday with analysts looking for a strong 0.8% increase after January's drop. “A dip in retail sales to start the calendar year is common, however, this year January retail sales marked the biggest decline since March of last year,” said Chip West, retail and consumer behavior expert at Vericast.

Persons: ” Joseph Brusuelas, ”, Chip Organizations: of Labor Statistics, Federal, “ Services, RSM, Mastercard, Apparel, Bureau, Federal Reserve Bank of, Blue Locations: Federal Reserve Bank of Atlanta

The U.S. economy is on a roll, expanding at a 4.9% annual clip in the third quarter, the Bureau of Economic Analysis reported on Thursday. Analysts are looking for the overall index to show prices increased at a 3.4% annual rate and the core index at 3.7%, down from 3.5% and 3.9%, respectively. On Wednesday, Adobe Analytics issued its monthly measure of online prices showing they continue to fall, hitting a 41-month low in September. “Online prices fell for the majority of Adobe’s tracked categories (12 of 18) on an annual basis. On a month-over-month basis, online prices were down 0.6%.”

Persons: ” Joseph Brusuelas, ”, Steve Rick, Raymond James, Eugenio Aleman, “ Organizations: Economic, RSM US, Federal Reserve, TruStage, Labor Department, Adobe Analytics, “ Locations: U.S

☆ Fed survey: Banks are tightening up their lending standards after rate hikes, turmoil
▼ + stars: | 2023-05-08 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Survey respondents attributed the changes in lending standards to economic uncertainty, a reduced appetite for risk, deterioration in collateral values and broader concerns about banks’ funding costs and liquidity positions, according to the Fed report. At the time, banks expected that trend of tightening credit, waning demand and deteriorating loan quality would continue. Fed president: Central bank should weigh effectsFederal Reserve Bank of Chicago President Austan Goolsbee said in an interview with Yahoo! Fed officials, including Chair Powell, have previously noted that credit tightening could act similarly to a rate hike. A ‘salient risk’Separately on Monday, the Fed released its semi-annual Financial Stability Report, which assesses the resilience of the US financial system.

☆ The Fed may have to blow up the economy to get inflation under control
▼ + stars: | 2022-10-30 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

Jobs report also on tapThe Fed meeting takes place just two days before the nation will get its next report card on the labor market. Another jobs report, from payroll processor ADP, is also due out next week, and this one looks just at Corporate America. The government said in the September jobs report that average hourly earnings rose 5% in the past 12 months. The Fed typically prefers to see wage growth in the 2% to 3% annual range as a sign that inflation is under control. Discovery, Starbucks (SBUX), PayPal (PYPL), Amgen (AMGN) and Block (SQ)Friday: US jobs report; earnings from Cardinal Health (CAH), Duke Energy (DUK) and Hershey (HSY)

Search resuls for: "” Joseph Brusuelas"

4 mentions found