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Existing home sales continued its slump, down 21% in 2022

Existing home sales continued its slump, down 21% in 2022

Existing home sales fell for the fifth straight month as the housing market cooled significantly amid steep rises in mortgage rates and housing prices.
Inflation outpaces consumer spending for the first time this year

Inflation outpaces consumer spending for the first time this year

Personal spending declined on an inflation-adjusted basis in May as spikes in gasoline and food prices depressed consumer sentiment and dampened spending on…
Fed announces largest rate hike in nearly three decades as it seeks to restore price stability

Fed announces largest rate hike in nearly three decades as it seeks to restore price stability

The Federal Reserve lifted its federal funds policy rate to a range between 1.5% and 1.75% on Wednesday as it moves to restore price stability over the medium term.
Oil prices and price gouging: Deconstructing the price of gas

Oil prices and price gouging: Deconstructing the price of gas

The impact of global market forces like the war in Ukraine and OPEC far outweighs whatever influence retailers or refiners have on the prices that consumers pay…
RSM US Manufacturing Outlook Index shows 35% probability of recession over next year

RSM US Manufacturing Outlook Index shows 35% probability of recession over next year

The RSM US Manufacturing Outlook Index declined into negative terrain in May, signaling the impact of high inflation, rising interest rates, the lockdowns in China and the war in Ukraine.