Existing home sales fell in April from the month prior, and prices from a year earlier saw their biggest decline in more than 11 years. Sales of previously owned homes, which account for the majority of the housing market, fell 3.4% in April from the previous month to a seasonally adjusted annual rate of 4.28 […]
Americans boosted their retail spending in April for the first time in three months as consumers struggled to keep pace with climbing interest rates and still-high inflation. Retail sales, which include spending at stores, online and in restaurants, climbed by a seasonally adjusted 0.4% in April from the month before, according to the Commerce Department. […]
The Federal Reserve raised rates once again this week, bringing the benchmark interest rate to its highest level in 16 years, and Fed officials have signaled that they might be done increasing them for the time being. The recent spate of rate hikes was intended to slow economic activity in an effort to bring down […]
Economic growth slowed considerably during the first three months of the year as higher interest rates and still-high inflation took hold, adding to worries about a further slowdown and possible recession later in the year. Strong consumer spending offset a pullback in business spending and investments and a slump in the housing market. U.S. gross […]
Despite a yearlong effort to combat inflation, the Federal Reserve’s preferred inflation metric rose again in March. The core personal consumption expenditures (PCE) index, which excludes food and energy, showed that prices were up 0.3% from the month prior, in line with economist expectations. On an annual basis, the core PCE increased 4.6%, slightly above […]
