Key Highlights Federal Reserve’s Monetary Policy Shift The Fed pivoted from hawk to dove and initiated the shift from a tight and restrictive monetary policy with a 50 basis points rate cut as they felt risks were more in balance between their mandates for price stability and full employment. August Retail Sales Performance The initial … Continued
The Federal Reserve changed their tune dramatically today from their stance at the last official meeting on July 31 by cutting the Fed Funds Rate by 50 basis points, double the consensus expectation of a 25-basis-point cut. This was the first official rate policy move in more than a year – the first move down … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Key Highlights Inflation and Auto Pricing Headline inflation, according to the consumer price index (CPI), increased by 0.2% in August, as expected, with the core CPI, excluding food and energy, seeing a more-than-expected growth of 0.3%. Interestingly, new-vehicle prices remained stagnant while used-vehicle prices slid by 1%. On a year-over-year basis, core CPI remained at … Continued
Key Highlights August Job Growth In August, job growth reaccelerated modestly but fell short of expectations, reflecting a mixed performance across various sectors. Revisions and Trends Recent revisions to job numbers and broader trends highlight a more nuanced picture of the labor market’s recovery. Unemployment and Participation Rates The unemployment and labor force participation rates … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Highlights: Gross Domestic Product (GDP) and Consumer Spending The GDP growth in the second quarter was revised up to 3.0% annualized from the initially estimated 2.8%. Personal Consumption The Personal Consumption Expenditure Index (PCE), the key gauge of inflation that the Fed follows, increased 0.2% in July, as expected, after increasing just 0.1% in June. … Continued
Highlights: Fed’s Rate Cut Anticipation Last week was a big week for gathering further insights into the Fed’s likely course of action in its next decision on monetary policy on Sept. 18. The notes from the July meeting were released, which indicated that the committee had already been leaning towards easing at the next meeting, … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Highlights: Headline Inflation and Core CPI The July CPI report affirmed continued declines in year-over-year inflation to the lowest level since March 2021. Shelter drove 90% of the July monthly increase, and without shelter, inflation is under the Fed’s target. Furthermore, shelter is not going to improve with rates in restrictive territory as new construction … Continued
