In July, the PCE Inflation Index rose by 2.5%, slightly below the forecasted 2.6% and up 0.2% from June. This slower-than-expected inflation may lead the Fed to consider lowering interest rates in September.
The producer price index released today shows a surge in wholesale prices, the highest in a year according to the Bureau of Labor Statistics, sparking concerns about inflationary pressures and broader implications.
The consumer sentiment report is out, showing a slight decline in February from the month before.
The prices of the products that producers make went down in December by a little bit, 0.1%, to be exact.
The monthly jobs report for December, released today, reveals that U.S. employers added 216,000 jobs last month, surpassing expectations of 170,000.
In the latest economic update, our GDP, encompassing all the goods and services we produce, increased by 4.9% in Q3 this year, revised down from the initial 5.2%.
The Federal Reserve decided to pause interest rate hikes for the second time in a row, keeping the federal funds rate within a range of 5.25% to 5.5%.
Consumer sentiment, or simply put, how people feel about buying things, falls for the first time in 4 months.
Consumer Sentiment rose today to a 13-month high of 66.4%.