Recent Updates
- Czech Republic: Construction (Jun)
- Albania: Business and Consumers Survey, CPI (Jul)
- Uganda: PPI (Jun)
- Ireland: Live Register [Registered Unemployment] (Jul)
- Vietnam: Customs Trade (Jul)
- more updates...
Economy in Brief
U.S. Consumer Credit Growth Surges in June
Consumer credit outstanding jumped $40.1 billion (7.7% y/y) in June...
Japan's LEI Waffles and Slows
Japan's leading economic index in June slipped to 100.6...
U.S. Foreign Trade Deficit Narrows in June
The U.S. trade deficit in goods and services (BOP basis) fell to $79.61 billion in June...
U.S. Unemployment Claims Remain on an Uptrend
Initial claims for unemployment insurance filed in the week ended July 30 rose 6,000 to 260,000...
RICS Survey Shows Weakening U.K. Housing Market
With the Bank of England hiking its key rate by 50 basis points and planning to squeeze its balance sheet...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Excess Demand for Goods Caused Supply Constraints
Q2 GDP Does Not Confirm Economic Recession, But It Does Confirm A Corporate Profit Recession
State Coincident Indexes in June 2022
State Labor Markets in June 2022
No Recession Call Can Be Made Before BEA Explains The Record Gap Between Income & Output
by Tom Moeller March 22, 2005
The Federal Open Market Committee raised the target rate for federal funds an expected 25 basis points to 2.75%. The discount rate also was raised 25 basis points to 3.75%.
The decision to raise rates the seventh time since last June was unanimous.
Today's press release from the Fed continued to contain a comment suggesting that rates could be raised again. "With underlying inflation expected to be contained, the Committee believes that policy accommodation can be removed at a pace that is likely to be measured."
With regard to prices the press release indicated "Though longer-term inflation expectations remain well contained, pressures on inflation have picked up in recent months and pricing power is more evident. The rise in energy prices, however, has not notably fed through to core consumer prices."
For the complete text of the Fed's latest press release please click here.
Paul Samuelson and Monetary Analysis from the Federal Reserve Bank of St. Louis can be found here.