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The Federal Reserve on Wednesday increased the nation’s benchmark interest rate for the third time since its first hike in nearly a decade in December 2015, amid evidence of a steady economy and indications of more interest rate increases later this year.
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Retail sales, one of the largest drivers of the U.S. economy, advanced in January, pointing to increased overall growth in the first quarter of the year. At the same time, prices on the retail and wholesale level posted big gains, and the manufacturing component for industrial production ticked higher.
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U.S. manufacturers reported a strong end to 2016, with business conditions improving at the fastest pace since March 2015. And separate reports show consumer prices are rising and housing remains strong, despite a pullback from a multi-year high.
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New government numbers show housing starts in the U.S. surged in October, as a measure of consumer prices also rose, likely paving the way for the Fed to raise interest rates before the year is out.
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While the strength of nation’s homebuilding market has eased just a bit, it remains robust. Meanwhile, a measure of consumer prices show it’s approaching a level the Federal Reserve has said it needs to hit in order to raise interest rates.
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The output from the nation's factories, mines and utilities increased in July, the largest gain since November 2014, and there also are improvements in housing and e-commerce. But there is disagreement over what the latest inflation numbers mean for interest rates.
Read More →A jump in retail sales and industrial output are just two of several economic indicators released Friday showing the economy is performing at least somewhat better, but there are still some lingering concerns.
Read More →Retail prices inched up again in May, while a closely watched measure of inflation by the U.S. Federal Reserve remains slightly above a level that sets the stage for an interest rate hike later this year.
Read More →Retail prices in the U.S. posted their biggest gain in three years during April, while industrial production increased the most in more than a year, as e-commerce and housing starts remain healthy.
Read More →A rebound in fuel prices helped push overall retail prices higher in March,, but inflation remains about as far from a threat as possible to the U.S. economy, according to a new Commerce Department report.
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