August 29, 2024 United States: US Economy Expands at Revised 3% Rate on Resilient Consumer The US economy grew at a slightly stronger pace in the second quarter than initially reported, reflecting an upward revision to consumer spending that more than offset weaker activity in other categories. Gross domestic product rose at a 3% annualized
August 28, 2024 Components of the broad monetary aggregate M3 The annual growth rate of the broad monetary aggregate M3 was 2.3% in July 2024, steady from the previous month and averaging 2.0% in the three months preceding July. The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight
August 28, 2024 United States: Fed Embraces Gradualism, a Familiar Policy for Uncertain Times With a September interest-rate cut all but certain and attention turning to the pace of future reductions, Federal Reserve officials are coalescing around a gradual approach to the last mile of their inflation fight. A handful of policymakers at the Fed’s
August 27, 2024 United States: US Home-Price Gains Outpace Inflation With 5.4% Annual Increase Home-price gains in the U.S. slowed in June as buyers pulled back from the market while listings started to climb. A national measure of prices rose 5.4% from a year earlier, according to data from S&P CoreLogic Case-Shiller. That compares with
August 26, 2024 United States: Gold Bulls Delight In Jackson Hole as Powell Juices Price Rally Gold’s record-setting rally above $2,500 an ounce looks to have further to run as the Federal Reserve prepares to chop rates, traditional drivers such as lower yields return, and Western investors pile back in. “Everybody thought the Fed was
August 23, 2024 United States: Jackson Hole History Points to Powell Sidestepping Market Shocks If Treasury and US stock markets are betting on one thing from Jerome Powell at the Jackson Hole symposium Friday, it’s this: He’ll play it safe. It’s a critical moment for the Federal Reserve chair as he tries to navigate through
