LeadStory

What United States economic news was released today?

Asked 11 days ago

Answer

Today's United States economic news includes a rise in core inflation to 2.7%, a fall in personal income, a significant drop in new home sales, and continued high mortgage rates. The Federal Reserve is maintaining steady interest rates due to persistent inflation and tariff risks. Markets remain resilient, but economic uncertainty is affecting consumer behavior and spending.

References

Hodge: Retailers overstocking to brace for potential tariffs
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CNBC
11 days ago
Hodge: Retailers overstocking to brace for potential tariffs

Retailers are overstocking inventories in anticipation of potential tariffs, but these will eventually need to be restocked at higher costs, possibly leading to higher consumer prices. The Federal Reserve is cautious about cutting rates due to tariff risks.

Core inflation rate rose to 2.7% in May, personal income falls
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CNBC
11 days ago
Core inflation rate rose to 2.7% in May, personal income falls

Core inflation increased to 2.7% in May, slightly above expectations. Personal income fell by 0.4%, marking the first negative result since 2021. Personal and real spending also declined, and inflation remains above the Federal Reserve's 2% target.

Fed being on hold is bolstering markets, Schwab's Sonders says
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Bloomberg
12 days ago
Fed being on hold is bolstering markets, Schwab's Sonders says

The Federal Reserve's decision to keep interest rates unchanged is contributing to market resilience. Recent economic data shows elements of stagflation, and the Fed does not see justification for easier policy at this time.

Why the Fed is keeping rates steady for now
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CBS America
13 days ago
Why the Fed is keeping rates steady for now

New single-family home sales are down almost 14% month to month, and existing home sales are at their slowest in 16 years. High mortgage rates have increased the supply of homes for sale to its highest level in three years.

New home sales hit 7-month lows
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CNBC
13 days ago
New home sales hit 7-month lows

Sales of newly built homes dropped nearly 14% in May from April, reaching a seven-month low. The decline is sharper than expected and is attributed to high mortgage rates, which hovered around 7%.

General Mills CEO: The consumer is still spending but uncertain
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CNBC
13 days ago
General Mills CEO: The consumer is still spending but uncertain

Consumers are still spending but are more cautious due to economic uncertainty, tariffs, and global conflicts, leading to a shift in behavior such as more eating at home and seeking value.

Levine: Expect market consolidation, not a major selloff
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Bloomberg
13 days ago
Levine: Expect market consolidation, not a major selloff

Despite a softening economy and weaker labor market data, financial markets have shown resilience. The market is expected to consolidate rather than experience a major selloff.

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