U.S. Economic News

March 29, 2018

U.S. Economic Indicators

Real disposable personal income rose 0.2% in February while real personal consumption expenditures (PCE) were unchanged. The PCE price index rose 0.2% (up 1.8% Y/Y) and the core price index rose 0.2% (up 1.6% Y/Y). BEA Report
 
Initial jobless claims fell 12,000 to 215,000 last week.
The four-week moving average decreased 500 to 224,500.  DOL Report
 
The University of Michigan Consumer Sentiment Index rose 1.7 points to 101.4 in the final March reading, and is up 4.5 points on the year.
The Index of Consumer Expectations edged down 1.2 points to 88.8, while the Current Economic Conditions Index jumped 6.3 points to 121.2. Report

U.S. News

The Wall Street Journal reports that Philadelphia Fed President Patrick Harker believes that the Fed will have to raise interest rates three times this year, up from his earlier projection of two hikes. Harker says that the recent firming of inflation has helped raise his outlook for rate hikes and that inflation will likely rise above the Fed’s 2% target in the coming years. WSJ

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