Snippet of Article: "...Fed-funds futures now point to a nearly 100% chance that Fed officials opt for another quarter-point cut at the Dec. 17-18 meeting. But the impetus has less to do with the specifics of Wednesday’s inflation data and more to do with the overall trajectory of economic conditions. ..."
Source: www.barrons.comSnippet of Article: "...Federal employees and annuitants were met with a surprise when the Office of Personnel Management released details about the upcoming Federal Employee Health Benefits (FEHB) open season last month. Health plan premiums will rise by an average of 13.5% next year, marking the largest increase in recent memory. ...For the 144 FEHB plans available in 2024 and 2025, self-only premiums will decrease in 28 plans, stay the same in five plans, increase below the 13.5% average in 69 plans and increase above the average in 42 plans."
Source: federalnewsnetwork.comSnippet of Article: "...Vice presidential candidate JD Vance followed through on his debate statement to provide evidence of illegal immigrants driving housing increases.
The Ohio senator took to X to post remarks from the Federal Reserve Board of Governors Michelle Bowman and additional studies.
“Given the current low inventory of affordable housing, the inflow of new immigrants to some geographic areas could result in upward pressure on rents, as additional housing supply may take time to materialize,” Vance quoted from the study. ...
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Snippet of Article: "...The maker of Dodge, Chrysler, Jeep and Ram vehicles added it "firmly stands by its commitment" to invest in the shuttered facility eventually, but it said it wasn't feasible now. ..."To ensure the company’s future competitiveness and sustainability, which are necessary to preserve U.S. manufacturing jobs, it is critical that the business case for all investments is aligned with market conditions and our ability to accommodate a wide range of consumer demands," said the Stellantis statement sent by spokesperson Jodi Tinson." ... The White House and the Kamala Harris presidential campaign declined Tuesday to comment on the Belvidere reopening delays.
Source: www.detroitnews.comSnippet of Article: "...federal employees are still expected to receive an average 2.0% raise next year, after the House Appropriations Committee advanced a spending package Thursday that is silent of federal worker compensation. ... President Biden turned heads by releasing a fiscal 2025 budget proposal with a 2.0% average pay increase for civilian federal employees in 2025. ..."
Source: www.govexec.comSnippet of Article: "The Fed wants to whip regional lenders into shape, fearing a ticking time bomb in the souring commercial real estate market...Michael Barr, shared the Federal Reserve’s direction of travel in a speech to the Columbia Law School annual banking conference in February. The writing is on the wall for regional banks: more scrutiny, more supervision, more rules. ...Given that regional bank chiefs had an easier ride under the Donald Trump administration, they must be crossing their fingers and toes that, come November 5, the White House turns from blue to red."
Source: www.thebanker.comSnippet of Article: "...The move by Target comes in response to soaring food prices and high borrowing costs, which have made customers more conscious of their spending habits. Items such as meat, bread, soda, fresh fruit and vegetables, snacks, and yogurt will see price reductions across various markets, including Phoenix, Minneapolis, New Orleans, and Baltimore. Target's Chief Food, Essentials, and Beauty Officer noted that are under pressure to stretch their budgets further. This initiative follows Walmart's recent assertion of a resilient US shopper base, despite ongoing inflationary concerns. Walmart already offers products at competitive prices, reinforcing its stance in the market. Target, set to report its first-quarter results on Wednesday, has already slashed prices on around 1,500 items, with more to follow this summer. ..."
Source: finimize.com
Snippet of Article: "...President Biden claimed on Wednesday that inflation was at 9% when he entered the White House in January 2021, when, in fact, the consumer price index (CPI) was at a mere 1.4% at the time. ...But under Biden's watch, the inflation rate ballooned from 1.4% to 9.1% in June 2022. ...Under Biden, overall inflation (seasonally adjusted) has increased 18.9% from January 2021 to March 2024. During the same period, all food costs are up 21%, while shelter costs are up 20.5% and energy costs are up 36.9%."
Source: www.foxbusiness.comSnippet of Article: "...When asked if the Fed cares about consumers' reaction to current inflation, Pinto states, "No, they clearly want it, below 3% and is close to two as possible. I think they're obviously tracking all the different metrics. I think wage inflation, from our vantage point, is one of the most important ones... Obviously, there are parts of inflation that are out of control of the Fed, whether it's energy prices or housing prices, those are more driven by externalities and cyclical factors. But the Fed is trying to manage the mandate between keeping inflation in check, but also keeping the economy on solid footing."..."
Source: finance.yahoo.comSnippet of Article: "...In what has become a rare occurrence on Wall Street, the S&P 500 fell significantly in April. ...a bearish cloud lingers over the markets. With large caps dipping 4% ...The risk is that lofty earnings estimates for the back half of the year could be called into question if macroeconomic factors begin to weigh."
Source: seekingalpha.comSnippet of Article: "...The national average for 30-year mortgages was 7.31% as of April 24. ...The national median family income for 2023 was $96,300, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in March 2024 was $393,500, according to the National Association of Realtors (NAR). Based on a 20 percent down payment and a 7.31 percent mortgage rate, the monthly payment of $2,160 amounts to 27 percent of the typical family’s monthly income."
Source: www.bankrate.comSnippet of Article: "...CNN — Interest rate cuts have been the main focus for Wall Street ever since the end of last year, when Federal Reserve officials indicated they intended to lower rates. But stubborn inflation now has some investors wondering about the exact opposite: a rate hike. ...Then came March’s Consumer Price Index report, which showed prices rose 3.5% last month from a year earlier, up considerably from February’s 3.2% and higher than economists’ expectations. That also marked the highest reading in half a year. "
Source: www.cnn.comSnippet of Article: "...latest U.S. Consumer Price Index (CPI) data released on Wednesday, which showed a 0.4% increase in month-on-month inflation and a 3.5% rise compared to the previous year. Core CPI, which excludes volatile food and energy prices, also saw an increase of 0.4% month-on-month and 3.8% year-on-year. These figures exceeded market expectations and underscored the challenge faced by the Fed in managing inflationary pressures. The overall inflation rate of 3.5% is the highest level since ..."
Source: www.breakinglatest.newsSnippet of Article: "...The proposed adjustments, approved by the Postal Service governors, would raise mailing services product prices approximately 7.8 percent.The proposed adjustments, approved by the Postal Service governors, would raise mailing services product prices approximately 7.8 percent.
The commission will review the changes before they are scheduled to take effect. If favorably reviewed, the changes would include:
• Letters (1 ounce): 68 cents (current), 73 cents (planned)
• Letters (metered 1 ounce): 64 cents (current), 69 cents (planned)...
Snippet of Article: "It costs about 20% more to insure an electric vehicle (EV) than a gas vehicle, mostly because EVs cost more to buy and repair. ..."
Source: www.valuepenguin.comSnippet of Article: "...West Texas Intermediate (WTI) contract for April gained 86 cents, or 1.10%, to $79.01 a barrel. May Brent futures added 66 cents, or 0.80%, to $82.70 a barrel. ..."
Source: www.nbcchicago.comSnippet of Article: "...Senate’s Joint Economic Committee, since Joe Biden took office in January 2021, American households are spending…
49% more on air transportation
39% more on repair of household furniture and appliances
35% more on gasoline and other motor fuels
34% more on eggs
32% more on public transportation
27% more on electricity and gas
27% more on school meals
24% more on poultry, beef, and veal
21% more on food overall
19% more on rent
..."
Snippet of Article: "...Consumer Price Index (CPI) climbed 3.1% in January, lower than in December, but above forecasts. Markets are now ruling out a March rate cut from the Federal Reserve ...Core CPI, which excludes volatile food and energy costs, rose 3.9% in January over the last 12 months after rising 3.9% in December. ..."
Source: www.morningstar.co.uk
