The U.S. annual inflation rose for the third consecutive month in September, although it was more of a rounding error (3.67 percent to 3.72 percent). On a month-over-month basis, the consumer price index (CPI) jumped 0.4 percent, topping market estimates of 0.3 percent. Core inflation, which removes the volatile energy and food components, remained above […]
Money
Producer prices climb to six-month high but revisions dominate the report
All the business news headlines involve the spike in producer prices. To summarize: The September producer price index (PPI) climbed 0.5 percent month-over-month and rose to 2.2 percent year-over-year. Core PPI, which omits the volatile energy and food components, jumped 0.3 percent and increased to 2.7 percent year-over-year. But the most notable part of the […]
Freddie Mac: 30-year fixed-rate mortgage average approaching 8%
Why would anyone bother selling their home if they acquired the residential property with a 2.89 percent mortgage rate? Have you seen mortgage rates these days? Last week, they hit 7.49 percent, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). Other gauges were higher, but this is the standard market observers watch. Add the […]
Bidenomics: 41% of U.S. households say they are financially worse off than a year ago, New York Fed’s SCE shows
Are you better off now than you were a year ago? According to the Federal Reserve Bank of New York’s (FRBNY) Survey of Consumer Expectations (SCE), more than 41 percent of U.S. households say they are financially worse off than a year ago in September, up from 40 percent in August. By comparison, just 18 […]
Government employment, part-time jobs growth highlight new concerning trend in September NFP report
The U.S. economy added an astounding 336,000 new jobs in September, more double what the market estimated. Unemployment was unchanged at 3.8 percent, average hourly earnings dipped to 4.2 percent, and the labor force participation rate was flat at 62.8 percent. The two most notable trends in the report? Government employment and part-time jobs growth. […]