Retail sales data surged in October as holiday shopping started early for the second year in a row.
We expect the Fed to raise its policy rate above 5% in the near term while at the same time reducing its balance sheet by $95 billion per month.
Tax and midterm elections: Whether or not Republicans take control of the House, tax policy centers on a year-end extenders bill.
We estimate that there is an approximately 18-month lag between changes in housing prices and those in the housing inflation components.
The University of Michigan's consumer sentiment index declined by a sharp 5.2 points to 54.7 in the first half of November, slightly above the all-time low in June at 50, according to survey data released Friday
Revenue Procedure 2022-40, allows 403(b) retirement plans to use the same individually designed retirement plan determination letter program currently used by qualified retirement plans.
The holiday shopping season is expected to continue to show strong nominal spending by consumers.
Total employment increased by 261,000 jobs in October, which brought the total gain in employment this year to 4 million positions.
The Federal Reserve increased its policy rate by 75 basis points on Wednesday to a range between 3.75% and 4% as it hinted at slowing the pace of its hikes.
On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get employers to claim the CARES Act Employee Retention Tax Credit (ERTC) when they may not actually qualify.
While inflation data came out slightly better than expected, the key wage inflation metric-the employment cost index-remained elevated.
We expect the Federal Reserve to increase its policy rate by 75 basis points to a range of 3.75%-4% when it publishes its policy decision on Nov. 2.
The steep rise in mortgage rates has been the number one reason for the fall in demand.
New housing starts fell by 8.1% in September as the impact of rising mortgage rates worked through the housing market.
American consumer spending was unchanged in September, held back mainly by auto and gasoline sales as prices at the pump and auto dealers fell on the month.
Both top-line and core inflation remain hot, sticky and elevated, which implies another rate increase of 75 basis points at the Fed's November meeting.