The job market continues to be one of the strongest parts of the economy and is showing no signs of new stress. Meantime, the housing market is suffering the most from the dramatic increase in mortgage rates. Total new home…

Retail sales in May declined more than expected, and inflation pressures led to continued shifts in the pattern of spending. Adjusted for inflation, retail sales were down compared with a year ago, but spending remains quite robust on a nominal…

The Fed raised the target for the Federal Funds Rate by three-quarters of a percentage point today as it becomes more aggressive in its quest to rein in inflation. The increase in the target rate was the largest in almost…

Financial markets sold off Friday with the report on the Consumer Price Index showing inflation accelerating again in May. Inflation is also weighing on consumer attitudes as measures of consumer sentiment have shown further declines.  The gains in inflation were…

The May employment report showed a slight slowing in job growth that exceeded expectations at 390,000 jobs created, and the unemployment rate was also unchanged at 3.6%. Labor force participation increased, and growth in average hourly earnings year over year…

Real GDP declined in the first quarter slightly worse than originally estimated, but mainly because of net exports and declining inventories. Consumer spending remained robust and improved in the latest estimate. Consumer spending slowed in April but remains strong. Income…

COVID cases increased again last week and exceeded levels seen at the same time last year. However, severity indicators, like fatalities and ICU admissions, remain at or near pandemic lows. COVID cases combined with the war in Ukraine, rising inflation…