Financial News for the Week of June 30th, 2023
Financial News Highlights A week’s worth of solid data did little to contradict Fed Chair Powell’s comments suggesting more monetary tightening is on the way.…
Financial News for the Week of June 16th, 2023
Financial News Highlights The Federal Reserve met expectations and held the policy rate steady at 5.0-5.25%, but left the door open to further rate hikes later this year. The Fed’s Summary of Economic Projections…
Financial News for the Week of June 9th, 2023
Financial News Highlights The ISM Services index surprised on the downside, falling 1.6 points to 50.3 in May. The employment sub-index drifted below the 50-point contractionary threshold for the first time since…
Financial News for the Week of June 2nd, 2023
Financial News Highlights Congress passes a deal to suspend the debt limit, averting the “worst case scenario” of a default. Today’s Nonfarm Payrolls Report featured a big jobs gain (+339k) and a pop in the…
Financial News for the Week of May 26th, 2023
Financial News Highlights Negotiators appeared close to a deal to raise the debt ceiling and set spending levels. However, the deal does not address Washington’s medium-term fiscal challenges, which were part of the…
Financial News for the Week of May 19th, 2023
Financial News Highlights Financial markets remained eerily positive this week, despite the debt ceiling X-date looming with no bipartisan deal in sight. Retail sales data for April showed the continued resilience of the…
Financial News for the Week of May 12th, 2023
Financial News Highlights Inflation eased modestly in April, with headline and core CPI both ticking down by 0.1 percentage points to 4.9% and 5.5% year-on-year respectively. The…
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Financial News for the Week of May 5th, 2023
Financial News Highlights The Federal Reserve hiked the policy rate 25 basis points this week, lifting it to a 16-year high of 5.00-5.25%. Changes in FOMC statement hinted at the potential for a pause, though Chair…
Financial News for the Week of April 28th, 2023
Financial News Highlights U.S. real GDP growth slowed to 1.1% quarter-over-quarter (q/q) annualized in 2023 Q1, from 2.6% q/q in the previous quarter. A measure of underlying domestic demand accelerated to 2.9% q/q,…