Instant Analysis of Today’s FOMC Statement for October 2015 Despite passing on raising interest rates at today’s meeting (no one thought they would), the FOMC showed some real backbone today, releasing a statement that wasn’t nearly as dovish as the markets’ were expecting going into the meeting. The statement had only a handful of changes […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary: Housing Market Still Strong Following two straight monthly declines, housing starts rebounded in September on the back of solid gains in the multifamily sector. Permits were less encouraging, with declines in both single- and multifamily. Despite the choppy starts readings in recent months, we expect residential investment to […]
Continue ReadingUS Outlook Report: Economy is Looking Better in October Following August and September’s abrupt slowdown, the economic data points so far for October suggest the U.S. economy is picking up some momentum in the fourth quarter. This should help to raise expectations of a better Q4 GDP report and could make a December rate hike […]
Continue ReadingThe US Chamber states that waterways and ports support over 300,000 California jobs and directly contribute $67 billion to our state’s economy. Failure to invest in our waterways and ports will hurt California’s exports, business sales and job creation. To learn more about the importance of waterways and ports in California, click here to view the Waterways Work […]
Continue ReadingSofter Economic Data Increases Questions for the Fed Retail sales rose a disappointing 0.1 percent in September while August’s sales figures were revised downward. Excluding automobiles, sales fell 0.3 percent for the month suggesting that consumer spending likely ended the third quarter on a softer note. Consumer and producer prices continued to show month-over-month declines […]
Continue ReadingUS Outlook Report: Core Inflation Holds Firm in the Third Quarter In your heart you know there is still inflation out there, no matter what the government or Federal Reserve says. Indeed, the September consumer price index release this week held some interesting information about the future path of inflation. While the headline CPI continued […]
Continue ReadingUS Outlook Report: Replacing Liftoff with Gradual Levitation The word “liftoff” brings visions of a rocket on the launch pad ready to vault into outer space. But recent downward revisions to our growth outlook for 2016, suggest a far calmer interest rate normalization approach, more like a day old helium balloon that is able to […]
Continue ReadingOctober 2015 California Exports Slip Sharply Amid Global Conditions California’s export trade plummeted when compared to the same month last year, according to new data from the U.S. Census. The numbers are worse than they actually look, however, due in part to rapid appreciation of the U.S. dollar… Read Full […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – October 2, 2015 Consumer Sector Still a Bright Spot in Q3 Nonfarm payrolls disappointed with 142,000 jobs added in September, while the unemployment rate remained stable at 5.1 percent. · Personal income rose 0.3 percent in August, while personal spending edged higher 0.4 percent, signaling solid growth […]
Continue ReadingBank of the West U.S. Outlook Report for October 2, 2015 US Outlook Report: The U.S. Consumer Hangs In There – For Now We got encouraging reports this week that consumers continued to spend at a rapid clip in August and their confidence in September may not be as dented by global market turmoil as […]
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