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The Conference Board said its consumer confidence index leapt to 125.6 in March from 116.1 in February, coming in well ahead of the consensus of 114.1.
READ MOREThe fundamentals of the U.S. economy are good and call for another one or two increases in short-term interest rates this year, said Chicago Fed President Charles Evans on Wednesday. Over the next few years, economic growth should average a little above potential, which is not even as high as 2%, Evans said in a
READ MOREContract signings for home sales boomed in February to the second-highest level in a decade, a trade group said Wednesday. Pending home sales rose 5.5% in February after falling 2.8% in January, the National Association of Realtors reported. That’s the highest level in close to a year
READ MORETreasury prices gained some ground on Wednesday after U.K. Prime Minister Theresa May began the Article 50 process, which formally begins the process of taking the country out of the European Union. The yield on the 10-year Treasury note slipped 2.6 basis points to 2.398%. The yield on the 30-year Treasury bond fell 2.3 basis
READ MOREFederal Reserve officials, including Chicago Fed President Charles Evans and his Boston counterpart, Eric Rosengren are scheduled to speak at separate events and may comment on the central bank’s interest rate outlook. Wall Street stock futures pointed to a slightly lower open on Thursday as investors continued to be on watch for more signals on
READ MOREThe U.S. economy expanded at a modest-to-moderate pace between mid-February and the end of March, but inflation pressures remained in check despite more difficulties in attracting and retaining workers. There is still debate within the Fed about just how rapid and sustained the pickup in inflation will be given that it has struggled to reach
READ MOREThe number of Americans who applied for unemployment benefits in late March dropped by 3,000 to 258,000, keeping new claims near the lowest level in decades. Economists polled had expected initial jobless claims to total 247,000 in the seven days stretching from March 19 to March 25.
READ MOREThe rate of inflation in consumer goods and services topped 2% in February for the first time since 2012, a trend that could lead to higher borrowing costs for households and businesses unless it abates soon.
READ MOREThe manufacturing index from the Philadelphia Fed slid in April, but from high levels, suggesting slower growth in the factory sector after a post-election surge. The index fell to 22.0 from 32.8. It had hit a 33-year high of 43.3 in February and has receded every month since then. In a diffusion index, any reading
READ MOREWeak growth in the U.S. economy in the first quarter will likely be temporary and interest-rate hikes should be able to proceed as planned, Federal Reserve Vice Chairman Stanley Fischer said Friday. “Our tendency is to think this [weakness in the first quarter] is a transitory change and that growth will be around forecasts in
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