Read the highlights of this week’s commentary from Helios:
- The Federal Reserve’s preferred inflation measure, the core personal consumption expenditures (PCE) price index, rose 2.8% year-over-year in October and 0.3% from September, driven partly by higher portfolio management fees linked to the recent stock market rally. With disinflation losing momentum, the Federal Reserve may slow the pace of rate cuts in the months ahead.
- Inflation-adjusted consumer spending edged up 0.1% in October after an upwardly revised 0.5% rise in September, reflecting the uneven demand seen throughout the year. Inflation-adjusted disposable income climbed 0.4%, the largest increase since January, while wages grew 0.5% and the saving rate rose for the first time since January.
- Initial jobless claims fell to 213,000 in the week ending November 23, largely reflecting seasonal fluctuations around the Thanksgiving holiday. In contrast, the number of individuals receiving unemployment benefits rose to the highest level since November 2021.
- We hope everyone had a wonderful Thanksgiving and enjoyed a shortened week last week that was light on new data and heavy on good food, family, and friends!
Want to learn more about Helios Quantitative Research? Click Here to schedule a meeting with one of our representatives!