Bowing to widespread public pressure, the Federal Reserve voted to leave interest rates unchanged at its latest policy meeting concluded yesterday. The decision to “pause” hiking rates after 10 consecutive increases came as a surprise to no one, but the Fed made it clear that at least a couple more rate hikes will likely be… Continue Reading
Category Archives: Economy & Markets
U.S. Factories Booming, But Worker Shortage Persists
Before we get into today’s main discussion, let’s take a quick look at the latest jobs report for May. The report showed the economy added 339,000 new jobs as compared to 190,000 expected. The official unemployment rate rose to 3.7% from 3.4% in April. It was a very strong report and does not suggest an economy… Continue Reading
Many Older Americans “Unretiring” Due To Inflation
Older Americans are increasingly ‘unretiring’ to deal with elevated consumer prices and worsening financial positions. According to a recent survey by Paychex, 55% of retirees who went back to work in the last year said they did so because they needed more money. Most surprising, to me at least, the survey found that 1 in 6… Continue Reading
Inflation Has Eroded Household & Business Confidence
US inflation as measured by the Consumer Price Index (CPI) unexpectedly soared to 9.1% (annual rate) last June, the highest level in 40 years. This sent prices for most consumer goods significantly higher and crimped budgets for millions of Americans. The CPI has since retreated to an annual rate of 4.9% but it’s still over… Continue Reading
Another Debt Ceiling Showdown – They Just Never Learn
Here we go again. The US exceeded the current debt ceiling of $31.4 trillion back in January. Since then, the Treasury has been paying the nation’s bills by using so-called “extraordinary measures,” taking money from other sources to meet the country’s obligations. However, those extraordinary measures are expected to be exhausted around June 1 –… Continue Reading