Another Fed rate hike could be in play during June meeting
The Federal Reserve may hike interest rates for the 11th straight time in June amid signs of stubbornly high inflation, according to Wall Street traders.
Jobless claims rise less than expected after fraudulent filings are wiped out
Applications for jobless benefits inched higher last week but previous weeks of data were revised lower after Massachusetts rooted out unemployment fraud.
Fed officials divided over additional interest rate hikes, meeting minutes show
Federal Reserve officials are split over whether to pause their aggressive interest-rate hike campaign at the June policy-setting meeting, minutes showed.
New home sales rise in April to highest level in over a year
Purchase of new single-family homes rose 4.1% in April from the previous month, suggesting builders continued to benefit from limited resale inventory.
The housing recession isn't over yet
The worst of the housing market recession may not be over quite yet and could soon bleed into the broader U.S. economy, according to Fannie Mae analysts.
Fed presidents signal more interest rate hikes needed to cool inflation
Several Federal Reserve officials signaled this week they could support an interest rate hike in June amid signs that inflation still remains too high.
Inflation pummeled US household finances last year, Fed survey finds
A report from the Federal Reserve indicates Americans are feeling the financial strain of inflation, showing a sharp decline in financial well-being in 2022.
Inflation to remain high for 2023, 2024: NABE survey
The National Association for Business Economics (NABE) survey for May found that forecasters expect inflation to remain elevated through 2023 and 2024 while gradually easing.
Minneapolis Fed chief Kashkari open to pause in interest-rate hikes amid inflation fight
Minneapolis Federal Reserve President Neel Kashkari told the Wall Street Journal that he is open to a pause on interest rate hikes amid ongoing economic uncertainty.
Powell signals Fed may take its foot off the gas on rate hikes following banking turmoil
Federal Reserve Chairman Jerome Powell said Friday that tighter credit conditions resulting from the recent regional banking crisis may cause the central bank to ease off rate hikes.
Mortgage rates rise amid interest rate environment uncertainty: Freddie Mac
The average rate for a 30-year fixed-rate mortgage rose to 6.39% for the week ending May 18, 2023, according to Freddie Mac’s latest data. Still, some experts have said they believe mortgage rates may come down if the Fed loosens up monetary policy.
Existing home sales slide again in April amid inventory woes, high prices
Sales of previously owned homes fell 3.2% in April from the prior month due to limited housing supply, according to the National Association of Realtors.
Dallas Fed president says data does not justify June rate-hike pause yet
Dallas Federal Reserve President Lorie Logan said Thursday that economic data doesn't justify pausing interest rate hikes at the central bank's June meeting.
Jobless claims fall sharply after Massachusetts fraud inflated data
Applications for jobless benefits fell last week by the most since 2021 after unemployment fraud in Massachusetts distorted the data in previous weeks.
Mortgage demand falls as interest rates hit 2-month high
Home-purchase applications plummeted last week as higher mortgage rates weighed on buyer demand, according to a new survey from the Mortgage Bankers Association.
Musk warns of economic headwinds, says Fed will be slow to lower rates
Tesla CEO Elon Musk warned that the Federal Reserve will be too slow to lower interest rates as the economy slows this year because it has "too much latency" in its decision-making.
Investors are the most pessimistic this year amid credit crunch, recession fears
Fund managers surveyed by Bank of America are increasingly pessimistic about the U.S. economy following the collapse of several banks earlier this spring.
Retail sales rise in April for first time in 2 months
The Commerce Department reported Tuesday that retail sales climbed 0.4% in April, the first increase since January as consumers picked up their spending.
Is now a good time to buy a house? A record high number of Americans say no
A record low number of Americans think it's a good time to buy a house amid high inflation and rising interest rates, according to a new Gallup survey.
Biden Fed nominee says too little has been done about inflation
The Fed has noted that the job market has a robust supply but warned that if it grew "tight" it might prompt the need for further rate hikes, which the bank is not keen to pursue.