2 min readYesterday, the FOMC left the range for the Fed Funds Rate unchanged at 5.25% – 5.50%, as expected. While the overall stance remains unchanged from June, Chair Powell was clear the committee is taking a more balanced approach by no longer overemphasizing the inflation side of its mandate. The Committee’s statement noted that the FOMC…
3 min read Total nonfarm payroll employment rose by 175K in April, missing expectations by 68K, while the unemployment rate increased 0.10% to 3.9%. Over half of the total gain in payrolls were in the Health and Private Education industry, perhaps a signal of weaker hiring across the broader economy than the headline number would suggest. The…
3 min readHotter than expected inflation readings continued in March as headline CPI increased 3.5% year-over-year, 0.3% higher than the yearly increase seen in February, and 0.1% above expectations. Core inflation increased 3.8% year-over-year, in-line with last month’s reading, but also 0.1% above expectations. Energy and shelter prices contributed over 60% of the yearly headline increase. While…
3 min readStable Guidance Amid Inflation’s Bumpy Road Yesterday, the Federal Reserve left the Fed Funds Target Range unchanged at 5.25% – 5.50%. The Committee’s statement was largely unchanged from January, noting solid economic expansion, strong job gains, and low unemployment. The Fed published their updated Summary of Economic (SEP), which did not significantly change, except for…