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The Federal Reserve Votes To Keep The Federal Funds Rate Target Unchanged
The Federal Reserve concluded its latest Federal Open Market Committee meeting within the past hour and, as expected, voted to keep its interest rate target unchanged at 0.25 percent to 0.50 percent. The vote was unanimous. Read more
Industrial Production And Factory Use Falter In May; The Producer Price Index Rises In May(2)
The two-steps forward, one step backward pattern of the durable U.S. economic expansion continues in place. On point, just one day after the government reported a solid increase in retail sales for the latest month and several days after another decent reading on initial jobless claims was registered, the Commerce Department issued data this morning affirming that industrial production had backtracked modestly in May. Read more
Industrial Production And Factory Use Falter In May; The Producer Price Index Rises In May
The two-steps forward, one step backward pattern of the durable U.S. economic expansion continues in place. On point, just one day after the government reported a solid increase in retail sales for the latest month and several days after another decent reading on initial jobless claims was registered, the Commerce Department issued data this morning affirming that industrial production had backtracked modestly in May. Read more
Employment Growth Falters Badly In May 2016

After a succession of better economic results, starting out with reports on retail sales and industrial production and concluding yesterday with modestly positive data on manufacturing activity, the stage appeared set for a decent employment issuance this morning. So, imagine the surprise on Wall Street, when figures came out showing not the 160,000 payroll increase expected, but rather a gain of just 38,000 new positions during the latest month. 

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Beige Book Shows Modest Growth Across Much Of The Country
The Federal Reserve's Beige Book economic compilation was issued within the past hour and the essential message was that the nation's economy was continuing to expand at a modest pace. That was relatively consistent with past Beige Book issuances and should not prove to be overly worrisome for the central bank as it prepares for its next FOMC meeting in two weeks. In short, this report was not a game changer, in our opinion. Read more
Housing Continues To Strengthen In April

Housing activity remains buoyant and the recovery in that key sector looks as though it will continue through this year and most likely beyond, boosted by low mortgage rates and pent up demand following a historic building and sales collapse during the previous decade.

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Retail Sales Surge In April, Rising 1.3% For The Month
Consumers really stepped up to the plate in April, easily overcoming a dismal showing in March, when retail sales had fallen by 0.3%. However, in the more recent month, such spending came in strongly, with sales jumping by 1.3%, easily eclipsing the 0.8% increase that had been the consensus forecast. Read more
Job Growth Slows In April
Concerns about slowing employment growth, which surfaced earlier this week, and increased following a disappointing issuance on private-sector job creation during the month of April on Wednesday, has intensified still further this morning after the U.S. Labor Department released its closely anticipated employment report within the hour. Read more
The Gross Domestic Product Barely Grows In The First Quarter of 2016
Expectations of gross domestic product growth for the recently concluded first quarter had been coming down for weeks, but the release of those figures earlier this morning showed that growth was below even some of the more downbeat forecasts.  On point, the latest data showed that GDP rose by a scant 0.5% in the quarter, two-tenths of a percentage point below the latest estimates. Earlier expectations, issued at the outset of the recent period, had growth coming in above 2%. Read more
The Federal Reserve Leaves Interest Rates Unchanged
The Federal Reserve, to the surprise of almost no one, has decided to leave interest rates unchanged, voting, by a 9-to-1 count, to keep the federal funds rate target at 0.25 to 0.50 percent. Fed Governor Esther L. George was the lone dissenter. She voted to lift borrowing costs by 25 basis points at the meeting. Read more
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