The ISM Manufacturing PMI registered 54.6% in August — the eighth consecutive month of expansion — while the prices paid index held at 71.1% for the 23rd straight month of rising input costs.
Tag: Federal Reserve
Posted inMarkets
September Rate-Hike Bets Double After Warsh’s Hawkish Jackson Hole Debut
Markets pushed September rate-hike odds from 35% to 57% after Fed Chair Warsh refused to signal policy direction at Jackson Hole, sending the S&P 500 down 0.25% and the Nasdaq 0.52% on Friday.
Posted inEconomy
Warsh Debuts at Jackson Hole Warning That Inflation Is Still Too High
Fed Chair Kevin Warsh used his first Jackson Hole address to warn that July PCE inflation at 3.3% does not confirm underlying trends have improved, and called for a quieter central bank that signals less.
Posted inMarkets
S&P 500 Holds Below Record as Markets Wait for Warsh’s Jackson Hole Debut
Equity markets treaded water Thursday as traders positioned cautiously ahead of Fed Chair Kevin Warsh’s first Jackson Hole speech, with the S&P 500 holding at 7,676 and gold near $4,620.
Posted inEconomy
US July PCE Inflation Holds at 3.7% as Consumer Spending Stalls
July PCE inflation hit 3.7% year-on-year, beating forecasts, as consumer spending stalled and the probability of a September rate hold rose to 62%.
Posted inMarkets
Gold Surges to $4,712 as Treasury’s Doubled Buybacks and Iran Tensions Drive Demand
Spot gold reached $4,712.60 per ounce on August 24, up nearly 15% in a month, as the US Treasury’s decision to double long-term debt buybacks and the Iran conflict sustained safe-haven buying.
Posted inEconomy
Warsh Heads to Jackson Hole With Markets Split on September Rate Hike
The Federal Reserve chair delivers his first Jackson Hole keynote on August 28, with traders pricing one-in-three odds of a rate increase nineteen days later at the September FOMC meeting.
Posted inEconomy
Three Fed Dissenters Pushed for Rate Hike as July Minutes Reveal Hawkish Split
Minutes from the Federal Reserve’s July 28–29 meeting show three regional presidents voted to raise rates immediately, the largest dissenting bloc of the year, with many participants warning further hikes may be necessary.
Posted inMarkets
S&P 500 Closes at Record 7,799 as Soft PPI Eases Rate-Hike Fears
Weaker-than-expected producer price data on Thursday pushed the S&P 500 to a new closing record of 7,798.99, trimming the probability of a Federal Reserve rate hike in September.
Posted inEconomy
US Retail Sales Fell 0.6% in July, First Drop in Nine Months
American consumers pulled back sharply in July, with retail sales posting their largest monthly decline in nine months at –0.6%, raising fresh questions about household resilience.