Timothy Moriarty and Brad Boswell: To capitalize on new era, we must address deficiencies
To take full advantage of the new economic opportunities coming Indiana’s away, addressing education and workforce development deficiencies will be paramount.
Economy
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Worst sales reports in years show weakening U.S. consumer trends
With more than 80% of S&P 500 firms having reported, fewer than half have beaten revenue estimates for the third quarter—the lowest share since the same period in 2019, according to data compiled by Bloomberg Intelligence.
UPDATE: Fed leaves key rate unchanged but keeps open possibility of future hike
Policymakers are grappling with how much more pressure to keep on an economy that has largely shrugged off the central bank’s moves to slow it down.
U.S. consumers feeling less confident for third straight month
American consumers are feeling increasingly less confident these days as fears of an oncoming recession remain elevated.
Poll: Many Americans say household expenses outpacing earnings
About three-quarters of Americans describe the nation’s economy as poor, which is in line with measurements from early last year.
U.S. consumers still spending briskly in face of persistent inflation, high interest rates
September’s month-to-month price increase exceeds a pace consistent with the Fed’s 2% annual inflation target, and it compounds already higher costs for such necessities as rent, food and gas.
U.S. economic growth accelerated to 4.9% rate last quarter
The nation’s economy expanded at a robust annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace.
September retail sales jump exceeds expectations
Americans showed their steadfast resilience and kept spending last month even as they grappled with higher prices, interest rates and a host of other headwinds.
U.S. consumer prices rise at brisk pace for second straight month
Recent inflation data underscore how a strong labor market is underpinning consumer demand, which risks keeping price pressures above the Fed’s target.
Wholesale inflation rises 2.2% in biggest year-over-year gain since April
The numbers, driven by an uptick in the price of goods, came in higher last month than economists had expected.
U.S. small-business optimism drops on outlook for economy, credit
A National Federation of Independent Business index of sentiment fell to a four-month low in September.
U.S. employers added surprisingly strong 336,000 jobs in September
The economy has now added an average of 266,000 jobs a month for the past three months, a streak that could make it likelier that the Federal Reserve will raise its key rate again before year’s end as it continues its drive to tame inflation.
Income tax revenue replacement ‘remains to be seen,’ state budget director says
The comments from Indiana State Budget Director Zac Jackson came during a virtual panel discussion on the impacts an economic recession would have on state budgets.
Retail sales rose 0.6% in August, largely due to spike in gas prices
The most recent quarterly financial reports from retailers showed that Americans remain cautious as higher interest rates make cars, homes or using credit cards more expensive.
U.S. employers added 187,000 jobs in August
Last month’s job growth marked an increase from July’s revised gain of 157,000, but still pointed to a moderating pace of hiring compared with the sizzling gains of last year and earlier this year.
U.S. economic growth for last quarter revised down to 2.1% annual rate
The Commerce Department’s second estimate of growth last quarter marked a slight acceleration from a 2% annual growth rate from January through March.
Powell: Economy’s solid growth could require additional Fed hikes to fight inflation
In a closely watched speech at Jackson Hole, Wyoming, Federal Reserve Chair Jerome Powell said the economy has been growing faster than expected and consumers are spending briskly—trends that could keep inflation pressures high.
U.S. jobless claims fall as labor market shows resiliency
Economists say that given the difficulties in finding workers during the past two years, businesses will likely hold onto them as long as possible, even if the economy weakens.
Fed minutes: Too-high inflation still a threat, could require more rate hikes
Most Federal Reserve officials last month still regarded high inflation as an ongoing problem that could require further interest rate increases, according to the minutes of their July 25-26 meeting released Wednesday.
Retail sales rose solidly last month as consumers spent freely
The uptick reflects the economy’s resiliency despite a still challenging economic environment of still high prices and higher interest rates.