The co-called “core PCE,” the Fed's favored inflation measure that excludes volatile food and energy prices, rose 5.2% in March from a year earlier, slowing from February's pace.
Gross domestic product in the first quarter fell 1.2% from a year earlier, the first contraction since the beginning of the pandemic, as Covid-19 infections surged.
A shortage of listings is keeping U.S. home-price gains at near-record levels even as mortgage rates surge, according to a report on Tuesday.
The world’s largest economy probably will expand 3.1% in 2022, the second-fastest pace in 17 years, Goldman Sachs economists said in a forecast.
The average U.S. rate for a 30-year fixed mortgage rose to the highest since April 2010, Freddie Mac said in a report on Thursday.
Sales of previously owned homes declined as a shortage of listing inventory and the highest mortgage rates in more than a decade made it tougher to purchase a property.
The average U.S. 30-year fixed rate for so-called conforming loans given to the best-qualified borrowers is the highest since February 2011.
The CFPB sued TransUnion, one of the nation’s largest credit bureaus, claiming it violated a 2017 consent order.
