Inflation Pressures Are Easing but Rate Cut Forecast Remains Uncertain

The New Year is beginning where the old one ended -- with uncertainty about when – or whether – the Federal Reserve will begin cutting interest rates.

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The big news this month was the April employment report, which turned out to be better — in fact, considerably better —than most analysts had expected.

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All eyes were on the jobs report last week and it was better than anticipated. The unemployment rate, which analysts expected to inch up a bit, actually declined from 8.9 percent to 8.8 percent, a two-year low, as employers added 216,000 jobs for the month.

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If the report on the financial crisis published by the Senate Permanent Subcommittee on investigations were a photograph, it would require a wide-angle lens to encompass all the villains it identifies.

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Financial industry regulators have finalized the risk retention “skin-in-the-game” requirements for mortgage lenders, and industry executives, for the most part, are not happy with the proposed rules unveiled in early April.