U.S. consumer spending fell by the most in 10 months in February as a cold snap gripped many parts of the country and the boost from a second round of stimulus checks to middle- and lower-income households faded, though the decline is likely temporary.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, dropped 1.0% last month after rebounding 3.4% in January, the Commerce Department said on Friday. That was the largest drop since April 2020, when the economy was reeling from the shutdown of nonessential businesses like restaurants to slow the spread of Covid-19 infections.
Raymond James: These 3 Stocks Are Poised to Surge by at Least 50%
In a recent note on the state of the stock markets, Raymond James equity strategist Tavis McCourt points out a series of policy factors that are playing a role in the current market volatility; the situation is more complex, perhaps, than most of us have been willing to admit. McCourt notes permutations of the SLR rule, political dynamics on the Senate Banking Committee, and the regulatory atmosphere towards potential capital return are all influencing the Fed’s moves and the market reactions. “We believe the Fed will
Yardeni Research President Ed Yardeni and Evercore ISI Chairman Ed Hyman provide insight into economic growth, today’s markets and the Federal Reserve.
The U.S. economy added 379,000 jobs in February, evidence the labor market’s recovery is gaining steam nearly one year into the pandemic as coronavirus caseloads fall nationwide and many states ease restrictions on business activity.
The unemployment rate fell slightly to 6.2% — well below the April peak of 14.7% but about twice the pre-crisis level, the Labor Department said in its monthly payroll report released Friday. Economists surveyed by Refinitiv expected the report to show that unemployment
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