Advance GDP reading suggests the economy shrank by 0.3 percent during Q1, as a rush by businesses to import goods before tariffs took hold and government spending cuts dented growth. Continue reading
Consumer confidence sank to a five-year low in April over concerns about tariffs, while trade deficit surged to an all-time high in March, and job postings shrank more than expected Continue reading
The University of Michigan Index of Consumer Sentiment fell 11 percent from March to April and is now lower than it was during the Great Recesssion. Continue reading
Inflation as measured by the Consumer Price Index dropped to an annual rate of 2.4 percent last month, but the impact of tariffs is unlikely to show up in data until May. Continue reading
Heightened fears of a trade war and recession have investors convinced that the Fed will start cutting rates again in June — a sentiment that gives mortgage rates more room to come down. Continue reading
Sweeping plan imposes higher duties on “worst offenders” and is in addition to 25 percent tariff on foreign automobiles slated to take effect April 3. Continue reading
Central bank dials back Treasury rolloffs but is not ready to cut short-term interest rates, as Fed policymakers indicate they’re more worried about inflation than they were in December. Continue reading
Republicans are less worried about the future than Democrats and Independents, but “consumers from all three political affiliations are in agreement that the outlook has weakened since February.” Continue reading
Homebuyers have responded to a pullback in mortgage rates from January highs, but tariffs on imported goods could keep inflation elevated and halt the downward trend in rates. Continue reading
Mortgage rates eased Friday as investors took stock of new data showing employers added 151,000 workers to their payrolls in February and the unemployment rate ticked up to 4.1 percent. Continue reading