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Economy

Fed Holds Interests Rates Steady

The Federal Reserve has kept the policy rate unchanged at 5.25-5.5%, as widely expected, but acknowledged growth "has slowed from its strong pace in the third quarter" plus a recognition that "inflation has eased over the past year". Fed Chair Jay Powell went

What's with the Economy -- Consumers Spending Up, High Interest Rates, Persistent Inflation

Both the Associated Press and The Wall Street Journal seem a little puzzled. Conventional theory says that with interest rates and inflation so high, consumers should be pulling back on their spending. But instead, they are spending like drunken sailors. The fact some Americans are spending freely is, we think,

Services Sector Grew for 9th Consecutive Month in September

Economic activity in the services sector expanded in September for the ninth consecutive month as the Services PMI registered 53.6%, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The sector has grown in 39 of the last 40 months, with

Job Growth Seen Slowing

Job creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might be starting to ease under pressure from higher interest rates. The firm reported Wednesday that private employers added 177,000 jobs in August, well below

Business Leaders Economic Optimism Lags Pre-Pandemic

Midsize business leaders in the United States are far less optimistic about the national economy now than they were in the years before the pandemic. That's according to JP Morgan Chase's 2023 midyear Business Leaders Outlook survey, which found 29% of leaders have a positive outlook

Will Fed's Next Interest Rate Move Be an Increase or Continued Pause?

The Federal Reserve left U.S. interest rates unchanged, but signaled more hikes are in the cards with some hawkish projections for the economy. James Knightley, chief international economist, says a "one-meeting pause makes little sense given the long lags involved with monetary police. With the disinflationary tend

Services Expanded in May

Economic activity in the services sector expanded in May for the fifth consecutive month as the Services PMI registered 50.3%, say the nation’s purchasing and supply executives in the latest Services ISM Report On Business. The sector has grown in 35 of the last 36 months, with the