Posted 3/6/2024, 10:30:28 PM
Economy Slows but Inflation Eases; Housing Crunch Worsens as Consumer Spending Dips
- Economy and job market slowing down according to Beige Book report, but inflation also continues to ease
- Housing affordability issues worsening, affecting more people now than ever before
- Warehouse inventories fell more than expected in January, potentially signaling slowing consumer spending
- Job openings remained elevated in January with 1.4 openings per unemployed worker
- Fed Chair Powell says rate cuts likely this year but not guaranteed, will depend on continued disinflation progress