Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
Pending Home Sales Inch Up in August, Annual Decline Persists
Pending home sales edged up 0.3% in August, but remain 4.7% below last year. Homebuilder ETFs (ITB, XHB) dipped slightly after the data release.
Bank of Canada's Rate-Hike Trigger: Core Inflation Spillover
Bank of Canada minutes define rate-hike trigger: energy pass-through to core inflation. Core CPI near 2%, but tariffs and soft labor market may delay action.
BoE Holds Rates at 3.75%, Unveils Long-Term Gilt Reduction Plan
The Bank of England held rates at 3.75% and announced a plan to reduce its gilt holdings by £368 billion by 2034. Inflation expectations were revised higher.
Mortgage Demand Slips 4.1% as 30-Year Rate Nears 7%
Mortgage applications dropped 4.1% last week as the 30-year rate rose to 6.97%, with purchase demand 19% below last year and refinancing down 65%.
IMF Urges Fiscal Restraint as RBA Rate Hike Bets Surge to 87%
The IMF urges Australia to curb spending as traders see 87% odds of an RBA rate hike on Sept 29. A move to 4.60% would lift mortgage payments and pressure consumer spending.
Pension Revaluation Eases Teacher Pay Funding Gap in England
England's 3.5% teacher pay award remains unchanged, but a pension revaluation cuts employer costs, helping schools cover the funding gap and easing strike risk.
Canadian Wealth Hits C$19T, But Gains Favor the Rich
Canada's household wealth climbed to C$19.1 trillion in Q2, but the richest 20% own 69% of financial assets, highlighting uneven gains.
State Pension to Hit £13k, But Tax Relief Promise Falls Short
The UK State Pension is set to exceed £13,000 next April, but the government's tax relief pledge is narrower than expected, leaving many pensioners exposed.
TUC Chief Joins Bank of England Board, Not Rate-Setting Panel
Paul Nowak joins the Bank of England's Court, but not the MPC, so he won't vote on rates. His appointment doesn't affect the upcoming September decision.
Fed Signals Rates to Stay Near 4.1% Through 2027
The Fed's latest projections show rates holding near 4.1% through 2027, a more restrictive path than previously expected, pressuring bonds and rate-sensitive stocks.
Federal Grant Freezes Top $177B, Savings Claims Unverified
A new tracker reports $177B in disrupted federal grants, but savings remain unverified. GAO review found only 3.8% of DOGE savings substantiated, raising investor concerns.
GAO Puts $6.7B Price Tag on Deferred Resignation Leave
The GAO estimates $6.7B in paid leave costs for the deferred resignation program, but cannot confirm net savings. OPM projects $20B annual savings.