Robert Hughes

Initial Claims Remain Low

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

New Single-Family Home Sales Fell in September

“New-home sales fell in September, and inventories rose again. Elevated prices and surging mortgage rates reduce affordability and are likely to weaken future demand.” ~ Robert Hughes

Consumer Confidence Fell in October

“Consumer confidence fell in October as inflation expectations ticked up slightly. 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

Existing Home Sales Fall Again

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

Industrial Output Increases to a Record High in September

“The industrial sector grew in September, posting record output. However, elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes