Economic Update – June 16, 2023

Economic Update – June 16, 2023

1. FED INTEREST RATE DECISION • On June 14th, The Federal Reserve announced a pause in interest-rate increases as it assesses the effects of its tightening efforts on the economy, holding the target federal funds rate at 5.0-5.25% while signaling the likelihood of...

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Economic Update – May 26, 2023

Economic Update – May 26, 2023

1. FED MEETING MINUTES • Minutes from the FOMC’s May 2-3 policy meeting showed that central bank policymakers were split on the decision to continue raising interest rates or pause increases during its most recent vote. • Ultimately, the decision to raise rates by 25...

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Economic Update – May 12, 2023

Economic Update – May 12, 2023

1. CPI INFLATION • US annual inflation continues to decelerate through April. As reported by the BLS, the Consumer Price Index grew 4.9% year-over-year as of the most recent reading. The current pace of growth indicates a slowdown compared to the 5% year-over-year...

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Economic Update – April 28, 2023

Economic Update – April 28, 2023

1. Q1 2023 GDP • The US economy grew at an annualized rate of 1.1% during the first quarter of this year, slowing significantly from the Q4 2022 annualized rate of 2.6% and registering well below the Dow Jones consensus forecast of 2.0%. • Growth in Q1 primarily...

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Economic Update – April 14, 2023

Economic Update – April 14, 2023

1. CPI INFLATION • The Consumer Price Index (CPI) rose 0.1% month-over-month and 5.0% year-over-year through March, according to the Bureau of Labor Statistics’ latest release. It was the slowest monthly climb for prices since December. • Energy prices are down 6.4%...

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