The October employment report saw a modest slowing in job creation, along with a slight increase in the unemployment rate and a modest slowing in wage growth. Still, the labor market remains strong and is a key reason why the…

As expected, the Fed raised the target for the Federal Funds Rate by three-quarters of a percentage point today, which was the fourth straight jumbo increase this year. The biggest news from the Fed’s move was the indication that future…

Last week featured mixed news with enough strength in the economy and consumer spending to result in more rate increases and communication of more increases to come from the Fed this week. Check back on Smoke on Cars for additional…

Residential construction trends in September were mixed, but single-family housing activity is clearly declining. Existing home sales fell in September for the eighth straight month. More declines can be expected as demand wanes and supply remains very limited, unlike the…

Financial markets had a roller coaster ride last week, ending the week lower due to stronger-than-expected inflation data and consumer sentiment data indicating rising inflation expectations. Both suggest the Fed will raise rates as much as planned in November and…