The consumer price index increased 0.3% for the month, higher than the 0.2% estimate at a time when most economists and policymakers see inflationary pressures easing. On a 12-month basis, the CPI closed 2023 up 3.4%. Economists surveyed by Dow Jones had been looking for a year-over-year reading of 3.2%.
The Bureau of Labor Statistics reported that 216,000 jobs were created in December as the unemployment rate stays steady at 3.7%
Is the U.S. economy heading toward a recesssion?
As housing in the US has become increasingly unaffordable over the past few years, the number of people experiencing homelessness surged to its highest level on record this year, according to an annual survey taken in January.
Wall Street is sounding the alarm about the U.S. economy, with a number of banking experts predicting the country is headed for recession.
JPMorgan CEO Jamie Dimon Warns of America’s ‘Sugar High’ of $33 Trillion in Debt, Urges Immediate Attention
Moody’s has downgraded credit ratings for several small to mid-sized U.S. banks, with warnings of potential downgrades for larger lenders, citing credit strength challenges due to funding risks and weaker profitability.
Inflation has reached its lowest point in 2 1/2 years. The unemployment rate has stayed below 4% for the longest stretch since the 1960s. And the U.S. economy has repeatedly defied predictions of a coming recession. Yet according to a raft of polls and surveys, most Americans hold a glum view of the economy.
