Trenton NJ, New Jersey’s unemployment rate has remained nearly unchanged for almost a year, now ranking as the sixth highest in the nation, according to recent data. As the national labor market shows signs of slowing down, high interest rates and corporate downsizing have left their mark on the state’s economy. The Federal Reserve is holding rates steady and may cut rates just once in 2024.
Washington DC, the Federal Reserve has opted to maintain interest rates at current levels amid a backdrop of rising inflation and a resilient labor market, signaling that potential rate cuts are likely to be postponed further into the year.
BREAKING: The Producer Price Index for final demand fell 0.1 percent in December. Prices for final demand goods decreased 0.4 percent, while the index for final demand services remained unchanged. Prices for final demand rose 1.0 percent in 2023.
the staff of the Ridgewood blog
Ridgewood NJ, once again, housing costs played a significant role in the most recent inflation report, but there are some optimistic indicators in the latest data, according to experts. The Consumer Price Index (CPI) for December revealed a slight uptick in prices at 0.3% compared to the previous month, an improvement from the 0.2% increase observed in November. On an annual basis, prices experienced a 3.4% rise, up from the 3.1% annual increase reported in the preceding month. Concurrently, the shelter component of the CPI showed a 0.5% increase in December from the previous month, surpassing November’s 0.4% monthly gain. Housing costs emerged as the primary contributor to the monthly index increase for all items excluding food and energy, with the Bureau of Labor Statistics noting that they accounted for “over half of the monthly all items increase.”
Washington DC, pause, not stop. That’s the message from the US Federal Reserve. On Wednesday the FED paused it’s 15-month rate-hiking campaign to normalize interest rates . In its latest statement the FED promoted the “we will see”, saying inflation remains too hot , the job market remains robust, and banking system is sound despite recent miss steps . All this points too the coveted “soft landing” .
Ridgewood NJ, shares of First Republic dropped sharply Friday as hopes dimmed for a rescue deal that could keep the bank afloat. First Republic Bank shares fell a whopping 43% in regular trading. Then, as a news report foretold a potential future in receivership for the ailing California lender, its shares collapsed again. US officials have been coordinating talks to rescue First Republic, with the Federal Deposit Insurance Corp., the Treasury Department and Federal Reserve said to be orchestrating meetings about throwing it a lifeline. But some of the biggest US banks, which have already contributed $30 billion in deposits to prop up First Republic, have balked at the prospect of throwing good money after bad.
Ridgewood NJ, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.
Ridgewood NJ, the Dow Jones Industrial average dropped below 29,400 midday Friday to its lowest point in nearly two years. Since the Fed started raising interest rates in March, the index has lost more than 13.7 percent of its value.
Washington DC, the Federal Reserve announced Wednesday it would hike interest rates this month at the fastest pace in nearly 30 years after a discouraging May surge in inflation.
Washington DC, the Federal Reserve kept its interest rates range at near-zero levels Wednesday but hinted at future tightening and balance sheet realignment. The Fed signaled a slow and steady approach to surging inflation.
No, inflation isn’t going away. No, inflation isn’t transitory. And, sorry, no, CNN, and some blog readers inflation isn’t good for you
the staff of the Ridgewood blog
Ridgewood NJ, the chart shows the Biden inflation effect. Since this time last year inflation is up roughly 7%. The November pace on an annualized basis is close to 10. Half of Americans were born after 1980, so never in their lifetimes have they experienced this kind of sticker shock.
Washington DC, the Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
Washington DC, the Federal Reserve’s electronic payment system used to process transactions like mortgages crashed today, causing chaos in the banking sector. Due to the widespread outage, banks and other financial institutions like credit unions and money transfer companies were unable to send or receive wire transfers.
New York NJ, The Federal Reserve on Sunday slashed interest rates to zero percent and announced it would purchases $700 billion in bonds and securities to stabilize financial markets and support the economy.
The emergency rate cut and push to flood the Treasury bond market with liquidity comes as the coronavirus pandemic forces businesses across the U.S. and world to shutter, likely plunging the global economy into a recession.
