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The higher cost of goods such as gasoline pushed U.S. inflation in January to the highest level since 2012, offsetting rising household incomes and raising the odds of an increase in interest rates soon. A government report that tracks consumer spending showed a modest increase of 0.2% last month, with incomes rising even faster at
READ MOREMarch 01, 20170 CommentsBloggies by 888LIFE980 U.S. consumer spending rose less than expected in January as the largest monthly increase in inflation in four years eroded households’ purchasing power, pointing to moderate economic growth in the first quarter. The Commerce Department said on Wednesday that consumer spending, which accounts for more than two-thirds of U.S.
READ MOREThe spike in business optimism in the wake of the presidential election has cooled a bit, a report released Wednesday showed. The Federal Reserve’s so-called Beige Book, a collection of anecdotes about the economy gathered before the central bank makes interest-rate decisions, said “businesses were generally optimistic about the near term but to a somewhat
READ MOREThere’s a growing divergence between the optimism seen by stock market traders, business executives and consumers, and actual economic activity. The Atlanta Fed’s GDPNow model for GDP growth, which mashes 13 subcomponents together, was cut on Thursday to 1.8% from 2.5%, marking its lowest forecast for the quarter. The biggest culprit was the weak consumer
READ MOREThe number of Americans who applied for unemployment benefits near the end of February fell by 19,000 to 223,000, setting a fresh postrecession low and illustrating the strength of the U.S. labor market.
READ MORETreasury yields declined on Wednesday to their lowest levels in more than three weeks as congressional Republicans struggled to convince certain conservative legislators to support their plan to repeal and replace Obamacare. Yields, which fall as prices rise, were on track to fall for a fourth straight session, with the yield on the 10-year Treasury
READ MOREInvestors will lock in Friday on speeches by the Federal Reserve’s top policy-makers, Yellen’s speech is scheduled for 1 PM Eastern Time. Warming up traders for the boss, four other Fed officials take the stage before her: Fed No. 2 Stanley Fischer, Fed Gov. Jerome Powell, the Chicago Fed’s Charles Evans and Richmond’s Jeffrey Lacker.
READ MOREFebruary ISM Non Manufacturing (Services) 57.6 vs.estimates of 56.5. This represents more than 2/3 of our economic engine, any reading above is expansionary.
READ MOREJanuary Factory Orders 1.2% vs. estimates of 1.2%. Not a factor for interest pricing today.
READ MOREU.S. stock futures traded in tight ranges on Thursday, as investors kept their eye on a speeches from Federal Reserve members including Chairwoman Janet Yellen, as well as an important vote on a health-care bill.
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