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.
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.
Continue reading Consumer Price Index Comes in Hotter Than Expected
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 .
Continue reading The US economy added 353,000 nonfarm jobs in January
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.
the staff of the Ridgewood blog
Ridgewood NJ, the Federal Reserve held the line with interest rates on Wednesday holding its key interest rate steady for the third straight time .
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.
Continue reading Fed’s preferred gauge shows Inflation Cools to lowest level since 2021
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.
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.
Continue reading Underlying Inflation Accelerated to a Four-month High in September
file photo by Boyd Loving
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).
Continue reading Housing Affordability in the U.S. is at a Record Low
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
Continue reading Economic Data Continues to Suggest the “Goldilocks scenario”
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 .
Continue reading The Federal Reserve Implements Widely-expected 25 basis Point Hike
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.
Continue reading Federal Reserve Announces New System for Instant Payments
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.
Continue reading Consumer prices Continue to Cool , slowest annual rate since March 2021
the staff of the Ridgewood blog
Ridgewood NJ, Federal Reserve officials agreed to a pause despite the fact that some officials wanted to raise rates by 0.25% last month because they felt the job market was too strong, the economy was showing signs of more resiliency, and inflation was not coming down fast enough.
the staff of the Ridgewood blog
Washington DC, the U.S. economy grew at a much stronger pace than expected growth in the first quarter, according to a major upward revision in the GDP on Thursday from the Commerce Department.
Continue reading Major Revision Raises GDP Growth Rate to 2%
