Category: Macro

Fed Chairman Jerome Powell said the central bank must be willing to think beyond the complex mathematical simulations used for economic forecasts. “Intellectual rigor must be combined with flexibility and agility,” he said at a conference marking the 100th anniversary of the Division of Research and Statistics. “Our economy is flexible and dynamic and sometimes…

The US international trade deficit widened to $61.54 billion in September from a $58.66 billion gap in August, a wider deficit than the $59.8 billion gap expected in a survey compiled by Bloomberg as of 7:40 am ET. Both exports and imports increased, with the imports increasing faster. Imports of industrial supplies, capital goods, auto…

In the upcoming week, the United States will see a flurry of activities, including speeches by several Federal Reserve officials, the release of the Michigan Consumer Sentiment index, and foreign trade data. Moreover, the earnings season will continue with reports from prominent companies such as Berkshire Hathaway, Gilead Sciences, Uber, and Walt Disney. Across the…

The Federal Reserve’s Federal Open Market Committee (FOMC) kept the United States’ benchmark interest rate unchanged in the range between 5.25% and 5.50% this Wednesday, in line with market consensus. Today’s FOMC decision was “unanimous.” In the statement released with the decision, the FOMC reported that recent indicators suggest that American activity has been expanding…

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by less than expected in the month of October. ADP said private sector employment climbed by 113,000 jobs in October after rising by 89,000 jobs in September. Economists had expected employment to jump by 150,000 jobs. “In all,…

Federal Reserve (Fed) Chairman Jerome Powell said on Thursday that evidence of additional strength in the US economy could put the progress of inflation at risk and that the US central bank could tighten its monetary policy further if it remains resilient. . Powell stated, in a speech during an event at the Economic Club…

For the week ending October 14, the anticipated value for seasonally adjusted initial claims was 198,000, a decrease of 13,000 from the previous week’s revised level. The previous week’s level was revised upward by 2,000, from 209,000 to 211,000. The 4-week moving average was 205,750, a decrease of 1,000 from the previous week’s revised average.…

In October, homebuilder confidence hit its lowest levels since January, as indicated by a report released on Tuesday. This decline signals that soaring mortgage rates are putting pressure on the optimism of construction firms and affecting potential buyer traffic. The confidence index has now fallen for the third consecutive month, dropping from a revised September…

In September, United States industrial production exhibited a 0.3% increase when compared to the previous month, following a period of stability in August (revised data). This information comes from the Federal Reserve, the central bank of North America. In comparison to September 2022, the overall production saw a modest uptick of 0.1%. During September, the…