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After eleven rate hikes since March 2022, the Fed once again left their benchmark Federal Funds Rate unchanged at a range of 5.25% to 5.5%. This decision was unanimous and marks the sixth straight meeting they held rates steady. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is […]

Housing and labor sector data will share headlines with the Fed, starting Tuesday with appreciation data for February from Case-Shiller and the Federal Housing Finance Agency. We’ll also see updates on job openings and private payrolls (Wednesday), unemployment claims (Thursday), and nonfarm payrolls and the unemployment rate (Friday). The Fed’s meeting begins Tuesday, with their […]

Initial Jobless Claims fell by 5,000 in the latest week, as another 207,000 people filed for unemployment benefits for the first time. Continuing Claims also declined by 15,000, with 1.781 million people still receiving benefits after filing their initial claim. What’s the bottom line? The low level of Initial Jobless Claims suggests that employers are still trying to […]

May 2 is National Truffles Day! Celebrate with these delicious and decadent Chocolate Truffles courtesy of New York Times Cooking. Yields 24 truffles. Heat 7/8 cup of heavy cream in a pot until it steams. Add 8 ounces of chopped bittersweet chocolate to a bowl, pour hot cream on top, and stir until chocolate is […]

The first reading of the first quarter 2024 Gross Domestic Product (GDP) showed that the U.S. economy grew by 1.6%. This was well below both the 2.5% estimate and the 3.4% growth seen in the fourth quarter of last year. What’s the bottom line? Slower economic growth is typically good news for the bond market, but […]

Pending Home Sales rose 3.4% from February to March per the National Association of REALTORS® (NAR), coming in well above estimates. This report measures signed contracts on existing homes, making it an important forward-looking indicator for closings on these homes, which are measured in the Existing Home Sales report. What’s the bottom line? The Pending Home […]

After falling in February, signed contracts on new homes rebounded 8.8% in March to a 693,000-unit annualized pace, reaching their highest level since September. Sales were also 8.3% higher than a year earlier, as the persistent shortage of previously owned homes for sale continues to fuel demand for new construction. What’s the bottom line? Despite the strong headline […]

March’s Personal Consumption Expenditures (PCE) showed that headline inflation rose 0.3% from February, with the year-over-year reading up from 2.5% to 2.7%. Core PCE, the Fed’s preferred method which strips out volatile food and energy prices, also rose by 0.3% monthly. The year-over-year reading held steady at 2.8%, stalling progress toward the Fed’s 2% target. What’s the bottom […]

April 23 is National Picnic Day. Make these Blackberry-Oat Crumble Bars courtesy of Southern Living for a perfectly delicious and portable picnic treat. Yields 24 bars. Preheat oven to 350 degrees Fahrenheit. Stir together 6 cups rolled oats, 2 1/4 cups packed light brown sugar, 2 1/4 cups all-purpose flour, 2 cups melted butter, 1 […]

While speaking to a policy forum on U.S.-Canada economic relations, Fed Chair Jerome Powell said that recent data has “clearly not given us greater confidence” that inflation is moving toward the Fed’s 2% target. This includes hotter than expected consumer inflation readings in recent months, especially as measured by the Consumer Price Index. Remember, the Fed […]

Initial Jobless Claims were flat in the latest week, as another 212,000 people filed for unemployment benefits for the first time. However, Continuing Claims rose by 2,000, with 1.812 million people still receiving benefits after filing their initial claim. What’s the bottom line? Initial Jobless Claims can be volatile from week to week, but their relatively low […]

Even though home builder sentiment held steady, builders pulled back on new construction last month, with Housing Starts falling nearly 15% from February. Starts for single-family homes, which make up the bulk of homebuilding and are the most crucial due to buyer demand, were also down 12.4%. There was a similar trend in future construction, […]

Confidence among home builders remained just above the key breakeven threshold of 50 for the second straight month, per the National Association of Home Builders (NAHB), as their Housing Market Index stayed at 51 in April. Any score over 50 on this index, which runs from 0 to 100, signals that more builders view conditions as good than […]

After hitting their highest level in a year in February, Existing Home Sales fell 4.3% in March to a 4.19-million-unit annualized pace, per the National Association of REALTORS® (NAR). This report measures closings on existing homes in March and likely reflects people shopping for homes in January and also in February when rates began to […]

It’s National Grilled Cheese Month. This Cheddar and Apple Grilled Cheese Sandwich from the Food Network is equally parts gooey and delicious – everything grilled cheese should be! Yields two sandwiches. Thinly slice half an apple. Place 2 slices of sourdough bread on a cutting board. Top each with two slices of cheddar cheese, the […]