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.
The Conference Board’s measure of consumer conficence fell this month as rising Covid-19 infections soured the nation's outlook.
"Red-hot demand for workers" will send U.S. jobless rate tumbling, the economists said.
Consumer confidence fell in November to the lowest level in a decade as inflationary concerns weighed on the mindsets of Americans.
Consumer prices rose last month at the fastest clip in more than three decades, signaling rates for home loans are likely to rise.
The U.S. unemployment rate dropped to the lowest level since the start of the Covid-19 pandemic as payroll gains in October rose to a three-month high.
The Federal Reserve's nearly $4 trillion of bond purchases doubled its balance sheet and caused mortgage rates to hit new lows 15 times last year.
Housing starts dipped by 1.6% in September and the number of permits reached a one-year low while homebuilders grappled with supply-chain gridlocks.
Homebuilder confidence rose in October, the second consecutive month of gains, despite ongoing supply chain bottlenecks as the pandemic continued to stymie deliveries.
The University of Michigan’s preliminary consumer sentiment index unexpectedly dropped to 71.4, the second-lowest reading since 2011, a report on Friday showed.
The Fed said it could begin reducing its asset purchases as early as next month, according to minutes released on Wednesday.
Core inflation, known as the Fed’s preferred gauge because it excludes volatile food and energy prices, was flat in September. The overall inflation reading rose to a 13-year high.
The U.S. economy added 194,000 jobs in September, the slowest pace in more than a year, according to the Bureau of Labor Statistics.
An index measuring homebuilder sentiment rose in September, showing a more positive outlook for the new-home market, after three months of declines.
The pace of inflation, one of the key drivers of mortgage rates, eased in August as reduced demand resulting from a resurgence of Covid-19 infections offset some of the supply-chain bottlenecks created by the pandemic.
Inflation expectations among Americans in August rose to the highest ever recorded in the Federal Reserve Bank of New York’s survey of consumers while their outlook for home-price growth moderated.
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.
Inflation expectations among Americans in August rose to the highest ever recorded in the Federal Reserve Bank of New York’s survey of consumers while their outlook for home-price growth moderated.
U.S. housing starts soared to 15-year high last month, according to a government report, signaling relief for supply-constrained market
A spike in lumber prices has added about $36,000 to the cost of a new home as builders and renovators compete for limited supply from sawmills, NAHB said in a new report.
