New York Rents Reach Record Highs Despite Moderating Nationwide

Kat Logan moved into a spacious studio apartment in Gramercy Park in 2018 for $2,500. During the pandemic, her rent held steady. Now, Logan is considering leaving New York City because of skyrocketing rents. "There's this thought at the back of my mind like, what if...

Inflation, Wages Could Ease Before the Fed’s Meeting: Five Things to Consider in Personal Income Report

Economists predict a slight decrease in Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation, and a modest dip in consumer spending, in March’s personal income report set for release Friday. The predicted slowdowns...

Younger Borrowers Are Grappling with Short Term Debts, the Restart of Student Loan Payments Could Provide an Additional Challenge

Young people are already struggling financially, and the potential restart of student loan payments could make their road ahead even bumpier. While American households overall have emerged from the pandemic in strong financial shape, with plenty of savings and little...

Manufacturing begins to contract amid banking fears and consistent Fed cuts

Durable goods orders continued declining in February, signaling that the rising borrowing costs might be sparking trouble for the manufacturing industry. New orders for all long-lasting goods fell by one percentage point this month after plunging by 5% in January,...

Consumers Spending Has Pulled Back In February

After a strong month in January of consumer spending, retail sales decreased in February, an indication that the economy is slowly cooling, but inflation is still high, which may cause the Fed to raise interest rates. Retail sales decreased in February, indicating...

Rebound in U.S. capital goods orders signals an expanding economy

New orders for manufactured goods fell last month but remained strong— weathering the storm and signaling an expanding economy.  New orders for durable goods sank by 4.5% in January, the biggest decline reported since April 2020, according to the Commerce Department....

Housing Prices Fall for the Sixth Straight Month

The Federal Reserve seems to be getting what it wants – for housing at least.  Rising mortgage rates slowed home buying at the end of last year, driving down home prices nationwide.  Seasonally adjusted housing prices fell 0.8% in December and were 2.7% below the peak...

U.S. Trade Deficit Reaches Record High in 2022 Driven by War and Inflation

Both imports and exports increased strongly during the first half of the year and slowed down towards the end of the year, in line with the cooling of the domestic and international economy

The Future of Institutions: Will Hiring Practices at Museums Change Following a Pandemic Disruption?

Juline Chevalier packed her bags in June of last year when her position at the Minneapolis Institute of Art was eliminated.  After five years and six months of working as a museum educator at the MIA, she returned to Virginia, where she continued working as the...

Weak U.S. Job Growth in April Casts Doubt on Recovery

The job market stumbled last month, dampening hopes for rapid economic recovery amid the coronavirus vaccination rollout, while crystallizing debate over the health of the economy. U.S. employers added a meager 266,000 jobs in April, the Labor Department reported...

Five Things to Watch: Home Prices

Economists predict that home prices declined year over year in February, ahead of the monthly Case-Shiller Report set to release tomorrow morning. But uncertainty lingers amidst changing seasons, regional divides and an otherwise resilient labor market.  The Federal...

Housing Markets Are Cooling – But Not Everywhere

Housing Markets Are Cooling – But Not Everywhere

The Federal Reserve targets home prices to curb inflation. But only certain markets seem to be responding – revealing the imprecision of an interest hiking toolbox. Housing prices fell in January, but at vastly different speeds coast to coast. A stark split in the...

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