Monday, January 29, 2024 / by Richard Eimers
By Christopher Rugaber
A soft landing – inflation falling back to the Fed’s target without a recession – could make it easier for the Fed to cut its key interest rates.
WASHINGTON — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could pivot on his economic stewardship.
Friday’s government report showed that prices rose just 0.2% from November to December, a pace consistent with pre-pandemic levels and barely above the Fed's 2% annual target. Measured from a year earlier, prices increased 2.6%.
Excluding volatile food and energy costs, so-called “core” prices rose just 0.2% from month to month and 2.9% from a year earlier — the smallest such rise since March 2021. Economists consider core prices a better gauge of the likely path of inflation.
The latest ...
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Monday, January 29, 2024 / by Richard Eimers
Florida is outperforming U.S. in job and income growth and population migration, two economic experts said.
TAMPA, Fla. – Even as the U.S. economy posted an unexpected strong performance last year, Regions Bank Chief Economist Richard Moody and Chief Investment Officer Alan McKnight expect 2024 economic growth to be slower.
Moody says that the labor and supply side expansion of the 2023 economy raises concerns about how much capacity remains for growth in 2024.
Florida's markets are expected to find a new normal in terms of growth after three years of explosive expansion, which means the outlook is still positive. Moody added that Florida's large metro areas continue to be “some of the hottest markets in the country,” but “once the dust settles, there's still outperformance there.”
Florida is among the states with favorable demographic profiles, including strong business migration, lower costs of living, lower labor costs, strong population inflow ...
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Saturday, January 6, 2024 / by Richard Eimers
By Amy Connolly
Seven Florida locales dominated the 2023 U-Haul Growth Index, indicating the Sunshine State continues to be a sought-after destination.
Seven Florida locales dominated the 2023 U-Haul Growth Index, indicating the Sunshine State continues to be a sought-after destination.
PHOENIX – Seven regions in Florida lead in the highest number of one-way U-Haul moves in 2023, underscoring the Sunshine State’s continued allure and appeal.
The U-Haul Growth Index found Florida represented 28% of the top 25 growth cities – the seventh consecutive year the state has had the most cities represented on the list.
Palm Bay-Melbourne
Ocala
Charleston-North Charleston, S.C.
Sarasota-Bradenton
Austin, Texas
College Station-Bryan, Texas
Charlotte, N.C.
Huntsville, Ala.
Dallas
Myrtle Beach-North Myrtle Beach, S.C.
Kissimmee-St. Cloud
Panama City-Panama City Beach
North Port
Boise, Idaho
Wake Forest, N.C.
Conroe, Texas
Knoxville, Tenn.
Surprise, Ariz.
A ...
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Thursday, September 21, 2023 / by Richard Eimers
With a nod to the economy having “mixed signals,” Fannie Mae’s 3Q forecast calls for a “modest contraction” and mortgage rates “settling above 7%.”
WASHINGTON – The key question for economists: Is the U.S. headed toward a soft landing or a mild recession?
According to September 2023 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group, it’s a modest contraction.
“Mixed signals from key economic data releases continue to muddle the near-term outlook and the answer to that question, but a modest contraction remains the most likely outcome as consumption continues to outpace incomes and previous monetary policy tightening works its way through the system,” the report says.
The housing market faces renewed headwinds with mortgage rates settling above 7%, according to the ESR Group. Still, the downside risk to total home sales is limited as more sales are being driven by life events rather than d ...
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