Monthly Archives: September 2012

Escalated Energy and Food Prices Erode Consumer Spending; Pace Remains Well Ahead of Last Year

September 21, 2012 Higher gasoline prices, a rebound in auto purchases from July, and stronger sales of building materials and supplies provided a lift to headline retail sales, which posted modest gains in August. Core retail sales, net of auto, gasoline and building materials sales, did not fare as well as August levels slipped a […]

Fed Sends Message of Determination to Bolster Economic Recovery; Duration Unspecified but Tied to Employment

September 14, 2012 The Fed announced a new open-ended program of quantitative easing, along with an extension of “Operation Twist” through year end in order to achieve the Fed’s two mandates of maximum employment and price stability, while containing inflation to the 2 percent range. While the financial markets expected some form of policy easing, […]

Uncertainty Weighs on August Hiring; Probability of Further Quantitative Easing Escalates

September 7, 2012 Weaker than anticipated job creation in August, combined with downward revisions to the previous two months’ figures, reinforces the fragility of the economy. Although last month’s results reflect slower hiring instead of increased layoffs, uncertainty surrounding the election and the approaching fiscal cliff are holding many employers at bay. Manufacturing, one of […]