Housing, food and gas are core things families spend money on: Fmr. NEC Deputy Director Ramamurti

28 Dec 2023 (12 months ago)

The global bond rally may have different reasons in different places
Unemployment has decreased and inflation has come down, indicating a strong labor market and lower inflation over time
There is reason to be cautious about the future, as we may experience a slowdown and a decrease in policy support
Core PCE is still below target, indicating that there is still work to be done in terms of disinflation
Households and government spending have driven GDP growth, but there are concerns about household spending and business fixed investment
The Federal Reserve does not anticipate reaching its inflation target until late 2025
People may be getting ahead of themselves in expecting rate cuts, as progress has been made but there is still uncertainty for 2024
Housing affordability, the locked-up home market, and high prices are areas of concern
Rental prices in some metro areas have been flat or declining, but homeownership affordability remains a problem
Grocery prices have remained flat or declining, and gas prices have gone back down under $3 a gallon