Tag Archives: rate

Goldman Sachs sees the U.S. labor market maintaining its momentum well into 2022.  Economists at the firm led by Jan Hatzius lowered their year-end 2021 unemployment rate forecast slightly to 4.1% on Monday. For 2022, Hatzius and his team projects a 3.5% unemployment rate. If achieved, the unemployment rate would be at a 50-year low as the economy powers back from the COVID-19 pandemic.  Employment at those levels in 2022 would bring the economy to full employment, Hatzius says.  “We expect… Source link

U.S. employers added back more jobs than expected last month, with payroll gains moving in tandem with improving economic activity and consumer mobility during the recovery. The jobless rate also fell to the lowest level since March 2020, improving more than expected.  The U.S. Labor Department released its July jobs report Friday morning at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: Change in non-farm payrolls: +943,000… Source link

The Federal Reserve’s number two official said Wednesday that if the U.S. economic recovery progresses as he expects, the central bank could launch its first post-COVID 19 rate hike at the beginning of 2023. Richard Clarida, the Fed’s vice chairman, said that “upside” risks to higher inflation and his expectation for a steady labor market recovery would signal an economy that could be ready for higher short-term interest rates in over a year. Clarida said that he could support lifting… Source link

The U.S. economy added back jobs for a sixth straight month in June, with job growth picking up speed alongside the reopening economy.  The U.S. Labor Department released its June jobs report Friday morning at 8:30 a.m. ET. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: Change in non-farm payrolls: 850,000 vs. 720,000 expected and an upwardly revised 583,000 in May Unemployment rate: 5.9% vs. 5.6% expected and 5.8% in May  Average hourly… Source link

Home price growth in the U.S. surged in April at a pace not seen in more than 30 years. Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 14.6% annual gain in April, up from 13.3% in March — marking the 11th straight month of accelerating prices. The 20-City Composite posted a 14.9% annual gain, up from 13.4% a month earlier. The results far outpaced analysts’ expectations of a 14.7% annual gain, according to Bloomberg consensus… Source link

The Federal Reserve is usually a friend to presidents, keeping inflation in check and the economy humming. But the Fed under current chair Jay Powell is beginning to cause President Biden some headaches, as it struggles to assess unusual economic developments. The Fed this week surprised nearly everybody by signaling earlier interest rate hikes than in prior forecasts. The prevailing view at the Fed is now that the central bank will raise rates twice by the end of 2023. The prior outlook,… Source link

Stock futures opened lower Wednesday evening as investors contemplated the Federal Reserve’s latest monetary policy decision and updated projections, which signaled a quicker path to higher interest rates than previously anticipated. Contracts on the S&P 500, Dow and Nasdaq added to earlier losses. Each of the three major stock indexes ended Wednesday’s session lower after the Fed’s new projections pointed to two rate hikes by year-end 2023. Federal Open Market Committee members also upgraded… Source link

The Federal Reserve on Wednesday held interest rates at near-zero but optimism over the progression of the U.S. economic recovery spurred more Fed officials to pencil in rate hikes by the end of 2023. The Fed also reiterated for now its commitment to its asset purchase program, which is absorbing about $120 billion a month in assets. “Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,”… Source link

• The sticky stuff remains at the forefront of baseball, as this past week had the lowest spin rate of any this season, resulting in batting average being up and strikeouts down, as MLB’s planned crackdown on pitchers’ use of foreign substances is taking shape. Meanwhile, MLB’s spin leader Trevor Bauer was hit hard Saturday in a home start against a poor Rangers offense, and his stuff clearly hasn’t looked the same recently. Corbin Burnes, whose cutter is among the leaders in spin… Source link

U.S. Treasury Secretary Janet Yellen spoke about the prospects for higher interest rates over the weekend, triggering some confusion over which interest rates she was referring to. “If we ended up with a slightly higher interest rate environment it would actually be a plus for society’s point of view and the Fed’s point of view,” the former Federal Reserve chair told Bloomberg in an interview on Sunday. Yellen’s remarks come as the Jerome Powell-led Fed continues to pin short-term… Source link