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CPI Report Brings Mixed Signals: Inflation Eases but Fed Remains Cautious

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the staff of the Ridgewood blog

Ridgewood NJ, in a surprising turn, the Consumer Price Index (CPI) for May remained flat, defying expectations of a 0.1% increase and stalling from April’s 0.3% rise, according to the Department of Labor. Core CPI, which excludes volatile food and energy prices, also showed signs of easing, rising by just 0.2% compared to the anticipated 0.3%.

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The FED Leaves Rates Unchanged

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the staff of the Ridgewood blog

Washington DC, on Wednesday, the Federal Reserve opted to maintain interest rates at their current levels and kept its projection unchanged, indicating the potential need for three rate cuts in 2024.

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Wall Street Surrenders to the FED

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the staff of the Ridgewood blog

Ridgewood NJ,like Sitting Bull’s surrender Wall Street has decided it will fight no more. The latest inflation data has put to rest any hopes of an imminent interest rate cut by the US Federal Reserve this month. In January, the Fed’s preferred measure of underlying inflation surged at its fastest rate in nearly a year, signaling ongoing challenges in curbing price pressures.

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Consumer Price Index Comes in Hotter Than Expected

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  • CPI report likely pushes the likelihood of a Fed rate cut to the second half of 2024
  • Dow Jones has its worst day since March 2023

the staff of the Ridgewood blog

Washington DC, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in January on a seasonally adjusted basis, after rising 0.2 percent in December, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.1 percent before seasonal adjustment.

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The US economy added 353,000 nonfarm jobs in January

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the staff of the Ridgewood blog

In January, the US economy saw the addition of 353,000 nonfarm jobs, surpassing economist predictions of 185,000 jobs and showing an increase from the revised 333,000 jobs reported in December, according to recently released government data. The unemployment rate remained stable at 3.7% for the third consecutive month .

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FED Rate Cuts Unlikely

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the staff of the Ridgewood blog

Ridgewood NJ, the Fed Chair Powell said in a press conference that rate cuts would likely begin at some point this year. But he reiterated, “I don’t think it’s likely that the committee will reach a level of confidence by the time of the March meeting” to cut rates.

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Fed’s preferred gauge shows Inflation Cools to lowest level since 2021

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the staff of the Ridgewood blog

Ridgewood NJ, in October, inflation showed signs of further moderation, as indicated by the Federal Reserve’s preferred price gauge.

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Federal Reserve Consumer Credit Delinquency Rates Increased the Sharpest for Millennials aged 30-39

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the staff of the Ridgewood blog

Ridgewood NJ, the Federal Reserve released the latest data on consumer credit . Consumer credit increased at a seasonally adjusted annual rate of 0.4 percent during the third quarter. Revolving credit increased at an annual rate of 8.6 percent, while nonrevolving credit decreased at an annual rate of 2.4 percent. In September, consumer credit increased at an annual rate of 2.2 percent.

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Underlying Inflation Accelerated to a Four-month High in September

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the staff of the Ridgewood blog

Ridgewood NJ, the Federal Reserve’s preferred measure of underlying inflation saw an uptick to a four-month high in September, and consumer spending also showed an increase, leaving the possibility of another interest rate hike in the near future. The core personal consumption expenditures price index, which excludes volatile food and energy components, rose by 0.3% in September, as reported by the Bureau of Economic Analysis. Inflation-adjusted consumer spending saw a 0.4% increase last month.

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Housing Affordability in the U.S. is at a Record Low

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the staff of the Ridgewood blog

Ridgewood NJ, the average rate for the most common type of mortgage in the US has risen to almost 7.1%, according to data from a survey of lenders made by mortgage financing giant Freddie Mac. The figure—for 30-year fixed-rate loans—is the highest since December 2001 and is up two percentage points over the past year (and more than 4.4 points from the all-time low seen in January 2021).

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Economic Data Continues to Suggest the “Goldilocks scenario”

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the staff of the Ridgewood blog

Ridgewood NJ, on Friday U.S. Bureau of Labor Statistics reported that the US economy added 187,000 jobs in July, below economist estimates of 200,000 and slightly above the downwardly revised 185,000 jobs in June. The unemployment rate dropped to 3.5%, from 3.6% in June and 3.7% in May. Average hourly earnings grew 0.4% month-over-month and 4.4% year-over-year, matching June. The number continue to suggests the “Goldilocks scenario” of a not-too-cold, not-too-hot sweet spot of sustainable growth
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The Federal Reserve Implements Widely-expected 25 basis Point Hike

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the staff of the Ridgewood blog

Washington DC,  the Federal Reserve implemented a widely-expected 25 basis point hike, bringing interest rates to their highest level since 2001. Continuing in its quest to normalize interest rates and bring down inflation .

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Federal Reserve Announces New System for Instant Payments

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the staff of the Ridgewood blog

Ridgewood NJ, the Federal Reserve on Thursday announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.

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Consumer prices Continue to Cool , slowest annual rate since March 2021

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the staff of the Ridgewood blog

Washington DC, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in June on a seasonally adjusted basis, after increasing 0.1 percent in May, the U.S. Bureau of Labor Statistics reported
today. Over the last 12 months, the all items index increased 3.0 percent before seasonal
adjustment.

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