Fed’s preferred inflation gauge ticked up in July as likely interest cut looms
The Federal Reserve's preferred measure of inflation rose slightly last month and consumer spending also grew robustly, suggesting the economy remains strong and providing a case for the central bank to oppose a half-percentage-point interest rate cut next month. The Commerce Department said on Friday that the personal consumption expenditures (PCE) price index rose 0.2% […]
Inflation measure closely watched by the Fed rises 2.5% in July
Mark Heppenstall, chief investment officer at Penn Mutual Asset Management, joins “Mornings with Maria” to share his thoughts on some of the headlines in the U.S. economy. The inflation indicator is Federal Reserve System It rose slightly in July as rising prices continue to weigh heavily on millions of Americans. The Commerce Department said Friday […]
Pending home sales tumble to record low in July
Contracts to buy existing homes in the U.S. fell to a record low in July as rising prices and higher borrowing costs drove potential buyers out of the market. The National Association of Realtors on Thursday Pending Home Sales IndexThe index, based on signed contracts, fell 5.5 percent last month to 70.2, the lowest since […]
House hearing examines: Was July 13 Secret Service failure ‘criminal gross negligence’ or ‘purposeful intent’?
Partisan politics, “debacles,” a failure to adapt to changing threats, a recent assassination attempt on a former president, and a growing number of mistakes and near-fatal incidents mean the US Secret Service is not in a position to protect America's highest leadership, a committee of experts said at a US House of Representatives hearing on […]
Sales of cheaper houses spiked in July: Analysis
Sales of the lowest priced homes surged in July, a sign that the housing sector, battered by interest rate hikes by the Federal Reserve, is recovering. Pending sales in the “starter home” category have increased 10.2% since July 2023, according to figures released Monday by real estate firm Redfin. That compares with a 6.5% decrease […]
Sales of cheaper houses spiked in July: Analysis
Sales of the lowest priced homes surged in July, a sign that the housing sector, battered by the Federal Reserve’s interest rate hikes, is recovering. Pending sales in the “starter home” category have increased 10.2% since July 2023, according to figures released Monday by real estate firm Redfin. That compares with a 6.5% decrease in […]
Secret Service agents told not to request extra security for July 13 Trump event, senator says
Agents planning a July 13 rally for Donald J. Trump in Butler Township, Pennsylvania, were urged by U.S. Secret Service headquarters not to request additional security for the event, a whistleblower told Republican Sen. Josh Hawley of Missouri. Anne Letter of August 23rd Hawley asked for an explanation from Secret Service Acting Director Ronald L. […]
July border encounters dropped to lowest level in four years
U.S. Customs and Border Protection (CBP) said Friday that the number of migrant encounters along the southwest border last month fell to a four-year low. “In July, Border Patrol recorded 56,408 encounters between ports of entry along the southwest border,” CBP said. stated in a press release“This is the lowest monthly total since September 2020.” […]
Housing Starts Unexpectedly Plunged In July
Homebuilders backed away from new homebuilding and construction plans in July, threatening to worsen home affordability in the United States. The Census Bureau said Friday that the pace of new project starts fell 6.8% to a seasonally adjusted annual rate of 1.238 million. Economists had been expecting a pace of 1.342 million. The number of […]
NYC taxpayers have spent $306M on ongoing migrant crisis since July
New figures released by New York City on Thursday showed that city taxpayers have spent $306 million on migrants since July 1, bringing the total spending on the ongoing migrant crisis to nearly $5.5 billion. The figure, updated by the Adams administration to include spending since the start of the current fiscal year, is hundreds […]