Using a back-of-the-envelope calculation, we estimate that the sharp rebound in equities last year contributed to an increase of roughly $900 billion in households' stock wealth, or $288 billion in consumer spending.

The Federal Reserve's closely watched measure of inflation, the personal consumption expenditures index, continued to show strength in January, rising by 0.3%

Sales of new homes grew 1.5% in January, much slower than the 7.2% increase in December, most likely because of elevated mortgage rates.

New claims fell by 12,000 to 201,000 for the week ending Feb. 17, according to the Labor Department's data on Thursday.

Just as inflation appeared to be coming under control in recent months, rising tensions in the Middle East have shaken this view and now represent the major risk to our economic and inflation outlooks.

We expect the Fed to begin cutting rates in June, and that the central bank will reduce its policy rate four times this year, by 25 basis points each.

The Federal Reserve shifted its bias on monetary policy away from tightening to a balance of risks that favors neither rate hikes nor cuts.

The overall index eased to 0.9% in the fourth quarter on a seasonally adjusted basis, down from 1.1% in the previous quarter.

The FOMC next week will almost certainly leave its policy rate unchanged between 5.25% and 5.5% and maintain the pace of quantitative tightening.

Inflation dynamics to close out last year strongly point to a near-term return to the Federal Reserve's 2% inflation target amid a solid labor market, strong spending and real income gains.

The U.S. economy last year expanded by a robust, above-trend pace of 3.1% and a fourth quarter pace on a seasonally adjusted rate of 3.3%.

Filings for jobless benefits fell last week to the lowest level in 16 months, a testament for how resilient the labor market continues to be.

Conditions are ripe for the yield curve to continue to normalize as the long end moves to a range between 4% and 4.25%.

November had a 0.4% increase in nominal income and spending, while inflation-adjusted spending advanced at a 0.3% pace, according to Commerce Department data on Friday.

Inflation continued to abate in November as energy prices declined by 2.3% and gasoline prices dropped by 6%, resulting in a 0.1% monthly advance in the CPI.

Initial jobless claims inched up slightly to 220,000 last week, remaining within the pre-pandemic level, the Labor Department reported on Thursday.