By Tom Burnett CFA On November 14, 2023, the Bureau of Labor Statistics released its CPI report for October. The CPI was unchanged for the month, after increasing by 0.4% in September. The October figure was the smallest since December 2022. Over the past 12 months, the CPI rose by 3.2%, the smallest…
By Tom Burnett CFA On November 3, 2023, the Bureau of Labor Statistics released its employment report for October. Total nonfarm payrolls increased by 150,000 to a record level of 156.9 million. The average monthly gain over the prior 12 months was 258,000. The unemployment rate held steady at 3.9% and…
By Tom Burnett CFA On November 1, 2023, the Federal Reserve Open Market Committee (“FOMC”) voted unanimously to leave the Fed Funds range at 5.25%-50% for the second meeting in a row. In its announcement, the FOMC repeated that the Fed is “strongly committed to returning inflation to its 2% objective…
By Tom Burnett CFA On October 10, 2023, the International Monetary Fund (“IMF”) lowered its 2024 global growth forecast from 3.0% to 2.9%, leaving its projection for 2023 growth at 3.0%. Growth in 2022 was 3.5%. World Consumer Prices are now forecast to rise by 6.9% this year and 5.8% in 2024. In…
By Tom Burnett CFA On October 6, 2023, the Bureau of Labor Statistics released its Employment Report for September. Total employment rose by 336,000 jobs to a new total of 157.1 million. The unemployment rate was unchanged at 3.8%. The number of unemployed workers was also unchanged at 6.4 million. In…