Philly Fed Index Unexpectedly Indicates Return To Growth In August

After reporting contractions in Philadelphia-area manufacturing activity in the two previous months, the Federal Reserve Bank of Philadelphia released a report on Thursday showing regional manufacturing activity unexpectedly returned to growth in the month of August. The Philly Fed said its diffusion index for current activity jumped to a positive 6.2 in August from a […]

Housing market becomes 'major headwind' for US economy

video Housing is in a very steep decline: Larry McDonald  Economic experts Patrice Lee Onwuka and Larry McDonald react to consumers saying inflation is impacting their standard of living on ‘Making Money.’ The once red-hot housing market is rapidly losing steam.  A slew of new economic data published this week shows the sector is starting […]

Fed officials anticipate 'significant' interest rate hikes until inflation eases, minutes show

video Fed tightening spurred ‘the great housing recession’: Expert Former Fannie Mae executive Tim Rood provides an overview of the housing market after August homebuilder sentiment plunged on ‘Cavuto: Coast to Coast.’ Federal Reserve officials indicated at their July meeting that additional interest rate hikes are necessary in the coming months until policymakers see evidence […]

Lowe’s, TJX Q2 Revenues Miss Estimates, But Target Revenues Met It

Home improvement retailer Lowe’s Cos. Inc. (LOW) reported Wednesday an increase in earnings per share for the second quarter that also topped analysts’ estimates. However, quarterly sales edged down and missed expectations. The company also reaffirmed its guidance range for the full-year 2022. Discount retailer Target Corp. (TGT) reported that second-quarter net profit plummeted from […]

Retail sales cooled in July as white-hot inflation weighs on spending

video Retail investors ‘severely wounded’ in this market: Expert Evolution VC Partners founder Gregg Smith discusses volatility in the markets and the impact it will have on retail investors. Americans pulled back on spending at retail stores in July, a sign that painfully high inflation is starting to weigh on U.S. households.  Retail sales, a […]

New Zealand Hikes Interest Rate By 50 Bps; Hints At More Tightening

New Zealand’s central bank raised its benchmark rate by another 50 basis points and hinted at more to come as policymakers focused on inflation pressures and capacity constraints. The Monetary Policy Committee of the Reserve Bank of New Zealand on Wednesday decided to lift the Official Cash Rate to 3.00 percent from 2.50 percent. The […]

Student loan payment freeze to end in August; Biden mulls decision

video Biden extending moratorium on student loans through August FOX Business’ Lydia Hu reports on the latest developments, noting the move does not go far enough for progressive Democrats calling for a cancellation.  Millions of student loan borrowers remain in limbo as they await a decision from President Biden about whether he intends to extend […]

UK Labor Market Tightness Eases As Job Vacancies Fall

The UK labor market turned less tight in the middle of the year as job vacancies declined for the first time since August 2020 and the unemployment rate remained unchanged, the latest Labor Force Survey from the Office for National Statistics showed Tuesday. The number of job vacancies showed its first quarterly fall since June […]

Why China’s confidence could turn out to be a weakness

In his decade of ruling China, Xi Jinping has tried to imbue its people with confidence, telling them that the country is doing very well compared with the chaotic West. He has told the younger generation that China can finally look at the world as an equal. President Xi Jinping has implored China to be […]

Thai Central Bank Raises Key Rate For First Time Since 2018

The Bank of Thailand raised its key interest rate for the first time in over three-and-a-half years as inflation is expected to remain above the target throughout this year. The Monetary Policy Committee voted 6 to 1 to raise the policy rate by a quarter-point to 0.75 percent, the central bank said on its website. […]