COVID cases increased again as Omicron subvariants push case numbers up to levels last seen in mid-February. Measures of consumer sentiment have shown declines so far in May, as inflation and stock market declines weigh on consumer attitudes. Inflation decelerated…

The April employment report showed stable job growth at 428,000 new jobs, and the unemployment rate was also unchanged at 3.6%. Labor force participation declined from what had been the highest level for the pandemic in March. Growth in average…

The Fed delivered on expectations today by raising the target rate for the Federal Funds Rate by half of a percentage point and announcing the plan to start reducing its balance sheet starting on June 1. The increase in the…

Real GDP declined in the first quarter but mainly because of net exports and declining inventories. Consumer spending remained robust. Consumer spending in March, in fact, accelerated and even showed growth on an inflation-adjusted basis over February and last year.…

The job market continues to be one of the strongest parts of the economy as continuing jobless claims keep falling and are far lower than they were before the pandemic began. New construction continues to be strong, with growth in…

COVID-19 cases are increasing again as the BA.2 omicron variant is spreading in the U.S., but cases remain relatively low. Data on consumer sentiment is mixed so far in April, as the University of Michigan index improved in the initial…

New-vehicle sales in March were up from February but down from a year ago. The seasonally adjusted annual rate (SAAR) declined to 13.3 million from 14.1 million in February, as tight supply, record low incentives, and worsening production challenges held…