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Top related persons:
Olu - 1 Diane Swonk - 1 ” - 1 Gregory Daco - 1 “ It’s - 1 Friday’s - 1 Abby Omodunbi - 1 Janet Yellen - 1
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Fed - 2 Commerce Department - 2 Huntington Private Bank - 1 Minneapolis CNN - 1 CNN - 1 “ - 1 PNC - 1 Transportation - 1

Search resuls for: "Omodunbi"


5 mentions found


☆ The U.S. inflation prints for January and February were 'anomalies': Economist
  + stars: | 2024-04-05 | 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 U.S. inflation prints for January and February were 'anomalies': EconomistOlu Omodunbi of Huntington Private Bank expects to see "better inflation prints in the next couple of months" which would allow the Fed to start cutting interest rates in the middle of 2024
Persons: Olu Organizations: Huntington Private Bank, Fed
☆ The Fed’s favorite inflation gauge shows prices rose just 0.1% last month
  + stars: | 2023-06-30 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +6 min
Minneapolis CNN —The Federal Reserve’s preferred inflation gauge cooled off last month, and consumers reined in some spending as the economy slows, according to data released Friday by the Commerce Department. Personal spending ticked up by just 0.1%, a more moderate pace than April’s revised 0.6% growth rate. When adjusting for inflation, consumer spending was flat. Consumers refill the coffersThe data in recent months shows a gradual cooling in consumer spending, Gregory Daco, chief economist at EY-Parthenon, told CNN. “There were no fireworks within the Fed’s favorite inflation report today,” George Mateyo, chief investment officer for KeyBank, wrote in a statement.
Persons: Diane Swonk, ”, Gregory Daco, “ It’s, Friday’s, Abby Omodunbi, Janet Yellen, Yellen, ” Yellen, ” George Mateyo, KeyBank, Swonk, it’s, we’ve Organizations: Minneapolis CNN, Commerce Department, CNN, “, PNC, Fed, Transportation Locations: Minneapolis, EY, New Orleans
☆ US goods trade deficit narrows; retail inventories rise
  + stars: | 2023-06-28 | by ( Lucia Mutikani | ) www.reuters.com   time to read: +3 min
SummarySummary Companies Goods trade deficit decreases 6.1% to $91.1 billion in MayWholesale inventories dip 0.1%; retail stocks rise 0.8%WASHINGTON, June 28 (Reuters) - The U.S. trade deficit in goods narrowed in May as imports fell, but the improvement was probably insufficient to prevent trade from being a drag on economic growth in the second quarter. The goods trade deficit decreased 6.1% to $91.1 billion last month, leaving the bulk of April's surge intact. The drop was led by a 7.3% plunge in consumer goods imports. The report also showed that retail inventories increased 0.8% last month after gaining 0.3% in April. Excluding motor vehicles, retail inventories were unchanged after decreasing 0.3% in April.
Persons: nonfarm, Omodunbi, Lucia Mutikani, Chizu Organizations: Goods, Commerce Department, PNC Financial, Trade, Atlanta Federal Reserve, Thomson Locations: WASHINGTON, U.S, Pittsburgh , Pennsylvania
☆ Canadian dollar seen higher as analysts eye peak interest rates: Reuters poll
  + stars: | 2022-12-07 | by ( Fergal Smith | ) www.reuters.com   time to read: +2 min
The loonie has weakened over 7% against the U.S. dollar since the start of 2022, with almost all of the decline coming since mid-August. Canada's economy grew at an annualized rate of 2.9% in the third quarter, much stronger than both analysts and the Bank of Canada were expecting. The BoC has raised its benchmark interest rate by 350 basis points since March to 3.75%, its highest level since 2008, in an attempt to cool inflation. Along with a more stable path for U.S. interest rates it "should help the loonie rally closer to fair value," Zhao-Murray said. Measures of fair value include purchasing power parity (PPP), or the exchange rate that equalizes the purchasing power of separate currencies.
☆ U.S. third-quarter economic growth revised up; goods trade deficit widens in October
  + stars: | 2022-11-30 | by ( Lucia Mutikani | ) www.reuters.com   time to read: +6 min
Gross domestic product increased at a 2.9% annualized rate, the Commerce Department said in its second estimate of third-quarter GDP. Economists polled by Reuters had forecast GDP growth would be raised to a 2.7% rate. Gross domestic income (GDI) had contracted at a 0.8% pace in the second quarter. Profits from current production decreased $31.6 billion in the third quarter after rising $131.6 billion in the second quarter. Inventories subtracted from GDP growth in the third quarter.
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