By Tom Burnett CFA On February 14, 2023, the Bureau of Labor Statistics released its monthly consumer price index report for January. The Index rose by 0.5% in January, following increases of 0.2% in November and 0.1% in December. Over the past 12 months, the Index rose by 6.4%, the smallest 12-month…
Kelleher Financial Advisors Newsletter January 2023 – Looking Back at 2022
By Tom Burnett CFA On February 3, 2023, the Bureau of Labor Statistics reported the employment data for January. Total employment rose by 517,000 jobs, compared with an average monthly gain of 401,000 in 2022. The unemployment rate fell slightly to 3.4%, the lowest level since 1969. Total employment…
By Tom Burnett CFA On February 1, 2023, the Federal Reserve formally raised the Fed Funds rate range by 25 basis points. The new range is 4.50-75%, the highest level since the Fed began raising rates in early 2022. The vote was unanimous among the voting members of the Open Market Committee. In its announcement…
By Tom Burnett CFA On January 30, 2023, the International Monetary Fund (“IMF”) issued its revised estimates for global GDP growth in 2023 and 2024. The latest forecast is an update from the prior report issued in October 2022. The IMF now sees global GDP growth of 2.9% this year, compared to its…