ECONOMIC UPDATE 2.13.2024
CPI INFLATION Consumer prices rose 0.5% from December and 3.0% year-over-year, according to the latest data from the Bureau of Labor Statistics. The typically more volatile food and energy prices were key contributors to the increase, but core prices, which remove the...
ECONOMIC UPDATE 1.30.2024
INTEREST RATE DECISION The Federal Reserve held rates unchanged at 4.25-4.50% at its January meeting, on par with market expectations. Solid labor market performance and somewhat elevated inflation kept officials neutral as they continued to assess the impact of the...
ECONOMIC UPDATE 1.16.2025
END-OF-YEAR LOGISTICS ACTIVITY The Logistics Managers’ Index (LMI) fell to 57.3 in December, its lowest level in four months. According to the LMI report, a seasonal slowdown in inventory levels mostly drove the monthly decline. Still, underlying trends show that...
ECONOMIC UPDATE 12.19.2024
INTEREST RATE DECISION The Federal Reserve cut rates by another 25 basis points in December, its third consecutive rate cut as policymakers move into a more accommodative monetary stance as inflation cools and labor market performance comes more into focus. The...
Wells Fargo to lay off 221 workers in Salem office
By Ardeshir Tabrizian Salem Reporter Wells Fargo Bank alerted the state on Tuesday, Dec. 3, that it will close its Salem corporate office and lay off 221 workers, one of the largest local business layoffs in recent Salem history. The company notified employees of...
ECONOMIC UPDATE 12.5.2024
BLACK FRIDAY ACTIVITY According to data from Mastercard’s SpendingPulse indicator, US Black Friday sales (excluding automotive sales) were up 3.4% this year compared to 2023. Online retail sales rose 14.6%, while brick-and-mortar stores rose by a more modest 0.7%...