The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. According to the press release, Economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports. However, the committee echoed concerns over a softening labor market.
The unemployment rate for July rose to [...]
All Posts Tagged With: "interest rates"
Fed keeps interest rates unchanged, market’s rally
June Inflation double that of May, 2008 energy index up 29%!
According to the Department of Labor Consumer Price Index (CPI) numbers for June, prices increased 1.1 percent for the month of June compared with 0.6 percent for May - almost double. The index for energy rose sharply for the second straight month, increasing 6.6 percent in June following a 4.4 percent increase in May. The [...]
July 16th, 2008 | rp | Comments | ContinuedPending home sales decline, gains forecast for 2nd half stays put
A modest near-term movement is expected in existing-home sales, with an expected during the second half of the year, according to the latest forecast by the National Association of Realtors®.
The Pending Home Sales Index (PHSI),a forward-looking indicator based on contracts signed in May, fell 4.7 percent to 84.7 and remains 14.0 percent below May 2007 [...]
Inflation in May worst in the last 6 months, food and energy continue climb
The Department of Labor has released the Consumer Price Index (CPI) numbers for May. The CPI for all urban consumers rose 0.6 percent on a seasonally adjusted basis. The index in energy rose 4.4 percent after remaining unchanged in April. The index for petroleum based products rose 5.8% and the energy services index rose 2.3%. [...]
June 13th, 2008 | rp | Comments | Continued
Inflation eases but food prices head higher in April
The Department of Labor released the Consumer Price Index numbers for April. The CPI for all urban consumers rose 0.2 percent on a seasonally adjusted basis. The index in energy remain unchanged but after a 1.9% increase in March. The index for petroleum based products fell 1.6% offsetting a 2.5% increase in the index for [...]
May 14th, 2008 | rp | Comments | Continued
Fed cuts feds funds rate and discount rate
The Federal Open Market Committee cut a key economic rate by a quarter of a basis point. The Federal funds rate now stands at 2%.
In the United States, the federal funds rate is the interest rate at which private depository institutions (mostly banks) lend balances (federal funds) at the Federal Reserve to other depository institutions, [...]
