įive takeaways from Biden’s State of the Union addressīiden goes after Trump in strikingly political State of the Union addressĥ memorable moments from Biden’s State of the Union Powell: ‘There will be bank failures’ caused by commercial real estate. House passes immigration bill named after slain Georgia student Laken Rileyīiden goes after Trump, GOP in feisty State of the Union address: Recapįulton County ethics board drops Fani Willis complaints from hearing The recent run of strong economic data will likely dissuade the Fed from cutting rates and adding more fuel to the economy.Įlizabeth Renter, data analyst at NerdWallet, said the February jobs report set to be released next Friday could be the final nail in the coffin of a March rate cut. While inflation has fallen sharply from four-decade highs in 2022, it still remains notably above the Fed’s annual target of 2 percent. The slight increase in inflation came in line with economists’ expectations following a remarkably strong January jobs report and hotter-than-expected consumer price index inflation data.Ī 1-percent January increase in personal incomes, however, defied economists’ projections of a 0.4 percent rise last month, according to consensus estimates. Annual core inflation fell to 2.8 percent last month from 2.9 percent in December. Inflation without volatile food and energy prices, known as “core” inflation, sped up to 0.4 percent gain in January after rising 0.2 percent in December. Monthly inflation picked up slightly from December, when the PCE index rose 0.1 percent, even as the annual inflation rate fell from 2.6 percent in the final month of 2023.
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