| Today's Economy
A Quick Look at Biden's New Student Loan Forgiveness Plan The proposal would provide relief for a narrower group of borrowers than prior plans. Economic Roundup: Housing Still Handcuffed U.S. existing-home sales fell by more than expected in April. Inside Economics Podcast: Episode 164—Inflation...Could've Been Worse Should the Fed start lowering rates rates sooner than later? Biden Targets the Northeast for Gasoline Price Relief The inventory release moves the needle, but not by much. » VIEW MORE TODAY'S ECONOMY
Commentary
Delinquencies and Rates: Higher for Longer U.S. consumer auto credit remained under the yellow caution flag through the first quarter of 2024. Australia Used-Vehicle Price Report: Veering Off Course Prices are set to track lower through the rest of 2024. Harmonizing the Fed's Preferred Inflation Measure A new way to look at U.S. inflation should calm nerves. U.S. Bankruptcy Filings Will Rise The two biggest weights on household finances at present are high and rising prices and high interest rates that are driving up the cost of borrowing. » VIEW MORE COMMENTARY
Today's Economic Indicators
United Kingdom
Consumer Price Index
Apr. 2024: 2.3% y/y
In April, consumer price inflation was 2.3% y/y, down from 3.2% in March. Indonesia
Monetary Policy
May. 2024: 6.25%
Bank Indonesia kept the BI-rate at 6.25% its May meeting after hiking 25 basis points in April. United States
MBA Mortgage Applications Survey
May 17: 1.9%
Mortgage activity in the U.S. increased slightly in the third week of May. United States
Quarterly Services Survey
2024Q1: 2.3% q/q
U.S. service industries enjoyed 2.3% revenue growth in the first quarter compared with the quarter before. United States
Existing-Home Sales
Apr. 2024: 4.14 mil, SAAR
Existing-home sales fell again in April, sliding 1.9% to a seasonally adjusted annual rate of 4.14 million, just short of consensus expectations for 4.21 million sales. United States
Oil Inventories
May 17: 458.8 mil barrels
Oil inventories surprised to the upside, which could put some downward pressure on prices. United States
FOMC Minutes
May. 2024:
Minutes from the Federal Open Market Committee’s May meeting show policymakers were unnerved by the lack of progress fighting inflation in the first quarter. Argentina
Economic Activity Indicator
Mar. 2024: -8.4% y/y
The statistics office’s monthly economic activity index, IMAE, fell 8.4% year on year in March after declining 3% in the previous month. New Zealand
Retail Trade
2024Q1:
South Korea
Monetary Policy
May. 2024:
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