The U.S. economy expanded at a 6.9% annualized rate in the final three months of 2021, triple the pace of the prior quarter, as Covid-19 infections spiked to record highs.
The Fed issued an addendum to its traditionally sparse statement that outlined how it plans to reduce its record $8.4 trillion portfolio of Treasuries and mortgage bonds.
Today's red-hot pace of inflation likely will cool to about 2% by 2022’s end, about a third of its current rate, according to Treasury Secretary Janet Yellen.
Builders broke ground on 1.6 million homes in 2021, a 16% jump from a year earlier and the most since 2006, according to a government report.
Consumer confidence fell this month to nearly a 10-year low as Americans on tight budgets struggled with inflation.
December’s 12-month gain in consumer prices was the largest since June 1982, according to Labor Department data released Wednesday.
An increase in household formation as the U.S. economy emerges from the pandemic will support home sales in 2022, according to Mark Fleming, chief economist at First American.
Inflation rose last month at the fastest pace since the Reagan administration as the global pandemic continued to snarl supply chains.
Consumer sentiment rebounded this month from November’s one-decade low, according to a University of Michigan report.
As long as vaccine efficacy holds up, the economic hit from the emergence of Covid-19’s Omicron variant likely will be moderate, Goldman Sachs said.
