Robert Hughes

“Headline real GDP growth was revised higher in the third quarter, but domestic demand remained weak. Caution is warranted.” ~ Robert Hughes

“Consumer confidence fell again in November with consumer expectations at recessionary levels. An aggressive Fed tightening cycle, elevated price pressures, and the fallout from the Russian war in Ukraine remain risks for the economic outlook.” ~ Robert Hughes

“Consumer sentiment fell in November and remains at recessionary levels. Inflation expectations ticked down, and long-run expectations remain well anchored.” ~ Robert Hughes

“Weekly initial claims rose to the highest level since August, and job cut announcements rose in October. Rapid price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes

“New-home sales rose in October, but so did prices and inventory. High prices, bloated inventory, and elevated mortgage rates suggest a poor outlook.” ~ Robert Hughes

“Durable-goods orders rose in October though growth in real durable-goods orders remains modest.” ~ Robert Hughes

“Existing-home sales fell again in October as reduced affordability pushes buyers out of the market. The outlook for housing is unfavorable.” ~ Robert Hughes

“Single-family housing starts and permits fell again in October as demand continued to weaken. Plunging homebuilder sentiment suggests an unfavorable outlook for housing.” ~ Robert Hughes

“Weekly initial claims fell, and the low level suggests the labor market remains tight. Rapid price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes

“Industrial-sector output fell in October though motor vehicle production rose. Elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes