2% target
US inflation rises moderately, consumer spending cools
U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services.
borrowing costs
Monthly US consumer prices post first drop in four years as inflation subsides
U.S. consumer prices fell for the first time in four years in June amid cheaper gasoline and moderating rents.
advertised job openings
Report: U.S. Job Market Weakens In June
The economy grew by 206,000 jobs in June, but unemployment was above 4% in the same month, according to the Labor Department said on Friday.
Average Hourly Earnings
US job growth slows moderately; unemployment rate rises to 4.1%
The Labor Department’s employment report also showed the economy created 111,000 fewer jobs in April and June than previously estimated.
2% target
US inflation ebbs in May as goods prices fall
U.S. monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months.
Bank of America
Big US banks expected to be cautious on shareholder payouts
Big U.S. lenders are expected to show they have ample capital to weather any renewed turmoil during this week’s Federal Reserve health checks.
Biden Administration
Americans Suffered $7B In Tax Penalties Last Year Following Biden Admin’s Additional Funding Of IRS, Thousands Of Added Positions
According to a report, the Internal Revenue Service (IRS) imposed $7 billion in extra tax penalties last year, about four times the $1.8 billion it assessed in 2022 following the Biden administration’s push for increased funding and enforcement of the agency.
Federal Reserve
Chief Market Strategist On State Of The Economy
The Federal Reserve decides to hold interest rates steady following the latest inflation report.
30-year fixed mortgages
Mortgage Demand Drops To 3-Month Low As Interest Rates Increase For First Time In A Month
A key measure of home-buyer applications fell to a three-month low as mortgage rates started to rise again.
automobiles
Biden’s Inflation Blues: More Than Just Pocket Change
By Tim Doescher May 15, 2024 (Views expressed by guest commentators may not reflect the views of OAN or its affiliates.)