The U.S. annual inflation report for August came in, and it was not pretty. In fact, it was so bad that the financial markets crashed. It was an ugly sight. But the year-over-year consumer price index (CPI) eased to 8.3%, energy prices plummeted, and President Joe Biden assured the country that progress is being made. […]
Money
From inflation to retail sales: A big week for the U.S. economy is coming
A big week of data for the United States economy is happening this week. Here is a rundown: Monday, September 12 Federal Reserve Bank of New York’s Consumer Inflation Expectations. Forecast 6.1 percent. Tuesday, September 13 National Federation of Independent Business Optimism Index. Forecast 91.1 U.S. annual inflation rate. Forecast: 8.1 percent. U.S. annual core […]
Cooling labor market? Continuing jobless claims trend higher again
Why does the labor market seem detached from the monthly jobs report, courtesy of the Bureau of Labor Statistics? Everything is showing weakness and slower growth, from the number of corporate layoffs to business sentiment. Case in point, the continuing jobless claims. While the number of Americans filing for first-time unemployment benefits declined to 222,000 […]
Another bad quarter? Atlanta Fed Bank slashes Q3 GDPNow to 1.4%
Well, that escalated quickly. The Federal Reserve Bank of Atlanta’s GDPNow is one of the most reliable indicators of where the gross domestic product is heading as it emulates the same measurements the Bureau of Economic Analysis (BEA) uses. It is usually off by a few +/- percentage points. It accurately called the first- and […]
$1.95 million property in Toronto includes a toilet in the bedroom
The Toronto real estate market is going through an enormous downturn, although it is unlikely to erase the pandemic-era gains. That said, North America’s fourth-largest city still has plenty of things wrong with its housing sector, fueled by artificially low interest rates. An example of this is a home in the heart of Toronto, selling […]