High Inflation Not Going Anywhere According To Latest From Fed
High inflation has investors mostly taking their cue from the Fed during a very light week for economic data
High inflation has investors mostly taking their cue from the Fed during a very light week for economic data
CPI report has investor’s focus during a light week in economic news. The held no surprises with lower mortgage rates ending the week.
Heading into the December 2022 mortgage markets, investors widely expected the Federal Reserve to increase interest rates by 50 basis points.
While this week showed little major news, the ISM national services index demonstrated unexpected gains in November 2022.
In the release of the most anticipated weekly economic data, August 2022 CPI showed an 8.2% annual inflation jump.
This week, the highly anticipated labor market data came out, highlighted with the surprising drop in the August 2022 unemployment rate.
After months of upward momentum, July 2022 mortgage markets finally reflected reduced inflationary pressures.
As the Federal Reserve remains aggressive against inflation, the new July CPI data showed a sharp decline.
With the release of last week’s Employment report, the United States reported unexpectedly strong job gains across the board.
In recent months, high inflation (and higher mortgage rates) took a large toll on mortgage application volumes.