Economic Update: December 30,2022

Economic Update: December 30,2022

1. Q3 GDP & CONSUMER SPENDING REVISED UP • The Bureau of Economic Analysis reported an upward revision to Real GDP in the third quarter of 2022, mainly reflecting a revised total in U.S. consumer spending. The latest estimate shows a 3.2% annualized increase in...

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Economic Update- December 2022

Economic Update- December 2022

1. FOMC INTEREST RATE DECISION • On December 14th, the Federal Reserve’s policy-setting committee raised their target Federal Funds Rate (FFR) range by 50 basis points to 4.25%-4.50%, slowing their speed of rate increases after four consecutive 75 basis point hikes —...

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Economic Update- November 2022

Economic Update- November 2022

1. INTEREST RATE HIKE • On November 2nd, the FOMC voted to increase the Federal Funds Rate by 75 bps for the fourth consecutive time, taking the benchmark interest rate to its highest since early 2008. The current Federal Funds Target Rate sits at 3.75%-4.00. • In the...

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