The housing market is crazy! More than one industry professional has reached that conclusion, watching trends that seem inconsistent, if not contradictory.Read More
The big economic news for this month is the much stronger than expected employment report; the big question is, why in the face of strong labor market, consumer spending (reflected in retail sales) has been trending steadily downward.
Although Fed Chair Janet Yellen admits that policy makers are baffled by persistently low inflation, they are undeterred by the failure to meet the 2 percent target they have set as the indicator that higher interest rates are in order, and still on track to boost interest rates once more this year.
A robust January employment report confirmed the economy’s strength, while triggering a bond sell-off that sent mortgage rates higher in early February.
To a summer that has been sizzling in many parts of the country, the Department of Labor’s July employment report delivered some additional heat.