US housing starts in March rose 47% from the prior year, topping 1 million for the first time since 2008. The gains were driven by strength in apartment construction, which offset a decline in single-family units. Apartment construction rose 82% from a year ago and 27% from the prior month to 392,000. Although this category […]
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The Federal Reserve Will Likely Continue It’s Easy-Money Policy
The Federal Reserve will likely continue its easy-money policy at least through the middle of this year, according to minutes released last week from the Federal Reserve’s Open Market Committee (FOMC) meeting held in March. The stock market, which has been fueled by the easy-money policy known as Quantitative Easing (QE), rallied on the announcement, […]
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The Labor Market Stalled in March
The labor market stalled in March. US employers added just 88,000 jobs during the month, down sharply from 268,000 in February, and well below the 163,000 average posted during the prior 12 months. This is slowest pace in nine months, and far lower than the 190,000 jobs forecast by economists, according to a Bloomberg survey. […]
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Consumer confidence plummeted unexpectedly in March
Consumer confidence plummeted unexpectedly in March. However, thanks to the “wealth effect” created by rising home and stock prices, this dip doesn’t mean the economic recovery has faltered. According to the Conference Board, consumer confidence fell to 59.7, down from 68 in February, and well below the 67.5 print anticipated by economists surveyed by Bloomberg. […]
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Most of the nation’s largest banks are in a much stronger capital position than they were before the financial crisis…
Most of the nation’s largest banks are in a much stronger capital position than they were before the financial crisis, according to results from the Federal Reserve’s third annual stress test released a week ago. The test measures a bank’s ability to withstand a large shock to the economy and shows how much capital might be needed […]