Conor Maloney
Cheap Gasoline Keeps Consumer Prices Low in May, Gold Price Rises
US consumer prices remained relatively flat through May with rising food costs offset by a drop in the price of gasoline. The consumer price index (CPI) rose 0.1% as expected vs. 0.3% the month prior.
Producer Prices Increase in May, Gold Price Drops
Producer prices rose in May by 0.1% as expected according to a Labor Department report released on Tuesday, spurred on by a boom in the cost of hotel accommodation and other services.
Employment Growth Well Below Expectations in May, Unemployment Rate Holds Steady
US non-farm payroll employment increased by 75,000 in May compared to 180,000 expected. With the labor market going strong, the latest employment growth reading is a surprise to analysts. However, the rate of unemployment remains at 3.6%.
Initial Jobless Claims Applications Stay Flat, Gold Price Rises
The number of initial jobless claims filed in the US last week was unchanged, pointing to strength and stability in the labor market despite a general economic slowdown.
Fed Chair Jerome Powell Says Fed Will Act to Preserve Economic Expansion
Federal Reserve Chairman Jerome Powell made a statement on Tuesday to say that the central bank would monitor economic conditions and act to maintain the current economic expansion which is near-record breaking.
Fed Official Richard Clarida Advises Against Rate Cut, Gold Price Rises
Federal Vice Chair Richard Clarida stated on Thursday that there is no need for a rate cut as the US economy is “in a good place” with an appropriate interest rate.
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