The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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Ridgewood NJ, on Wednesday, the Federal Reserve announced its third consecutive interest rate cut, reducing its key rate by 0.25 percentage points. This adjustment brings the federal funds rate back to a range of 4.25% to 4.5%, levels not seen since December 2022. While the decision aligns with market expectations, it comes with a cautious outlook on future rate cuts.
Continue reading FED Cuts, Suggest Slower Pace , Market Tanks
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New York NY, Federal Reserve Chair Jerome Powell expressed confidence Wednesday that the central bank will remain independent under the incoming administration of President-elect Donald Trump. Speaking at the New York Times DealBook Summit, Powell addressed concerns over potential political interference in the Federal Reserve’s decision-making processes.
Continue reading Fed Chair Powell Confident in Central Bank’s Independence Amid Transition
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Ridgewood NJ , actions speak louder then words . In a bold move to support the U.S. labor market, the Federal Reserve lowered its benchmark interest rate by half a percentage point on Wednesday. This marks the start of a significant policy shift aimed at stabilizing growth and keeping employment strong. The cut brings the federal funds rate down to a range of 4.75% to 5%, after staying at its highest level in two decades for over a year.
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Ridgewood NJ, in August, U.S. employers added 142,000 nonfarm jobs, falling short of the 161,000 jobs economists had predicted, according to new data released by the U.S. Bureau of Labor Statistics. Revisions to June and July’s job numbers showed a more significant slowdown than initially reported. June’s figure was revised down to 118,000 from 179,000, and July’s to 89,000 from 114,000.
Continue reading Summer Slowdown: US Job Growth Slows in August
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Ridgewood NJ, in a highly anticipated keynote address at the Federal Reserve’s annual retreat in Jackson Hole, Wyoming, Fed Chair Jerome Powell set the stage for potential interest rate cuts, though he stopped short of providing specific details on timing or scale.
“The time has come for policy to adjust,” Powell stated, indicating a shift in the central bank’s approach. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”
Continue reading Fed Chair Jerome Powell Signals Potential Interest Rate Cuts
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Ridgewood NJ, many commentators complained over our rosy coverage of Thursday GDP numbers , after all it is hard to get excited about the economy when a bag of Doritos cost $6.
Continue reading Questioning GDP: Why Government Spending Shouldn’t Inflate Economic Health
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Ridgewood NJ, the US economy expanded at an annualized rate of 2.8% in the second quarter of 2024, according to preliminary data released yesterday. This growth rate surpasses analysts’ predictions of 2.1% and signals continued economic resilience as inflation cools.
Continue reading US Economy Surges in Q2 2024, Exceeding Expectations!
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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%.
Continue reading CPI Report Brings Mixed Signals: Inflation Eases but Fed Remains Cautious
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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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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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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.
Continue reading Consumer Price Index Comes in Hotter Than Expected
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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 .
Continue reading The US economy added 353,000 nonfarm jobs in January
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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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Ridgewood NJ, the Federal Reserve held the line with interest rates on Wednesday holding its key interest rate steady for the third straight time .
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Ridgewood NJ, in October, inflation showed signs of further moderation, as indicated by the Federal Reserve’s preferred price gauge.
Continue reading Fed’s preferred gauge shows Inflation Cools to lowest level since 2021
