{"id":2287052,"date":"2024-07-01T10:00:59","date_gmt":"2024-07-01T14:00:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/everyday-economics-did-higher-for-longer-interest-rates-heat-wave-cool-hiring-washington-examiner\/"},"modified":"2024-07-01T10:04:31","modified_gmt":"2024-07-01T14:04:31","slug":"everyday-economics-did-higher-for-longer-interest-rates-heat-wave-cool-hiring-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/everyday-economics-did-higher-for-longer-interest-rates-heat-wave-cool-hiring-washington-examiner\/","title":{"rendered":"Everyday Economics: Did higher-for-longer interest rates, heat wave cool hiring? &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feveryday-economics-did-higher-for-longer-interest-rates-heat-wave-cool-hiring-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2287052&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The article discusses the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/melania-trump-sad-to-see-americas-struggle-on-bidens-watch\/\" title=\"Melania Trump: Sad to see America\u2019s struggle on Biden\u2019s watch\">recent economic data<\/a> regarding consumer spending, inflation, and the possibility of a Fed rate cut.\u200c Despite <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/under-trump-americans-have-seen-their-best-wage-growth-in-40-years\/\" title=\"Under Trump, Americans Have Seen Their Best Wage Growth In 40 Years\">wage growth<\/a>, consumers showed restraint, and inflation moderated. The article also mentions key figures to watch, including the ISM PMI for \u2064manufacturing and services \u2064sectors and total construction spending. The highlight is the upcoming \u200dBureau \u200dof Labor Statistics Employment Situation report.\u200d This data suggests that a Fed rate cut may occur before the end of the \u200dyear if\u2062 the disinflation trend continues.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-logo-a\" href=\"https:\/\/www.washingtonexaminer.com\/\" title=\"Washington Examiner\"><span class=\"tdb-logo-img-wrap\"><\/span><span class=\"tdb-logo-text-wrap\"><span class=\"tdb-logo-text-title\">Washington Examiner<\/span><\/span><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\">\n<div class=\"tdb-search-form-inner\"><input class=\"tdb-head-search-form-input\" placeholder=\" \" type=\"text\" value name=\"s\" autocomplete=\"off\" \/><button class=\"wpb_button wpb_btn-inverse btn tdb-head-search-form-btn\" title=\"Search\" type=\"submit\"><span>Search<\/span><\/button><\/div>\n<\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-logo-a\" href=\"https:\/\/www.washingtonexaminer.com\/\" title=\"Washington Examiner\"><span class=\"tdb-logo-img-wrap\"><\/span><span class=\"tdb-logo-text-wrap\"><span class=\"tdb-logo-text-title\">Washington Examiner<\/span><\/span><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Everyday Economics: Did higher-for-longer interest rates, heat wave cool hiring?<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-author-name-wrap\"><span class=\"tdb-author-by\">By<\/span> <a class=\"tdb-author-name\" href=\"https:\/\/www.washingtonexaminer.com\/author\/emailwashingtonexaminer-com\/\">Orphe Divounguy | The Center Square contributor<\/a><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><time class=\"entry-date updated td-module-date\" datetime=\"2024-07-01T08:43:03-04:00\">July 1, 2024 8:43 am<\/time><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tpd-featured-video\">\n<div id=\"Brid_21230\" class=\"brid\" style=\"width:1280;height:720;\"> <\/div>\n<\/div>\n<p>(The Center Square) \u2013 Despite solid wage growth in May, consumers showed some restraint, and inflation continued to moderate.<\/p>\n<p>The Personal Consumption Expenditures Price Index (PCEPI) remained flat month-over-month, down from 0.3% in April. Core PCEPI eased to 0.1% from 0.3% the previous month.<\/p>\n<p>Year-over-year, core PCE stands at 2.6%, down from a persistent 2.8% over the past three months. In March, the FOMC dot plot projected core inflation, as measured by PCE, to reach just 2.6% for 2024 alongside a 4% unemployment rate. The unemployment rate has already hit 4%, aligning with the forecast, while core PCE is at 2.6% year-over-year.<\/p>\n<p>If this disinflation trend persists, the first Fed rate cut could come before the end of the year as anticipated.<\/p>\n<p>Key figures to watch this week include:<\/p>\n<ul>\n<li>The Institute for Supply Management will release the Purchasing Managers\u2019 Index (PMI) for manufacturing and services sectors, pivotal leading indicators tracking economic activity. The ISM manufacturing index is expected to remain in contraction, with economists forecasting a potential slowdown in the ISM services index for June.<\/li>\n<li>Total construction spending for May is anticipated to have declined further, reflecting a decrease in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/housing-market-stalls-as-interest-rates-remain-high-inventory-falls\/\" title=\"High interest rates and low inventory cause housing market to stall.\">privately-owned housing starts<\/a>, which fell by 3.8%.<\/li>\n<li>The highlight of the week will be the Bureau of Labor Statistics Employment Situation report. Forecasts suggest a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-stock-market-swell-is-more-of-a-magnificent-seven-surge-which-in-turn-is-more-of-an-nvidia-explosion\/\" title=\"The stock market boom is largely driven by a Magnificent Seven surge, primarily fueled by Nvidia&#039;s explosive growth\">persistently tight labor market<\/a> with the unemployment rate expected to hold steady at 4%.<\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Did the sweltering conditions in June lead to a sharper decline in hiring, with wage growth moderating further? Alternatively, could relaxed financial conditions have spurred the labor market to regain momentum?<\/p>\n<p><em>Orphe Divounguy is the co-host of the Everyday Economics podcast on America\u2019s Talking Network.<\/em><\/p>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_21230\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"playlist\":\"21230\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<ul class=\"tdb-tags\">\n<li><span>Tags<\/span><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\/\">Economy<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/interest-rates\/\">Interest Rates<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/jobs\/\">Jobs<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/news\/\">News<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/weather\/\">Weather<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-logo-a\" href=\"https:\/\/www.washingtonexaminer.com\/\" title=\"Washington Examiner\"><span class=\"tdb-logo-img-wrap\"><\/span><span class=\"tdb-logo-text-wrap\"><span class=\"tdb-logo-text-title\">Washington Examiner<\/span><\/span><\/a><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite strong wage growth in May, consumers were cautious and inflation was on the decline. The Personal Consumption Expenditures Price Index (PCEPI) remained steady month-over-month, with core PCEPI also decreasing. The FOMC projected core inflation to be at 2.6% for 2024, which has already been reached, along with a 4% unemployment rate. If this trend continues, the Fed may cut rates before the end of the year. Key economic indicators to watch include the ISM PMI, construction spending, and the BLS Employment Situation report. The question remains whether the hot weather in June led to a decrease in hiring and further moderation in wage growth, or if relaxed financial conditions helped boost the labor market<\/p>\n","protected":false},"author":3267,"featured_media":2287053,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/04\/iStock-1450480638-1024x683.jpeg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[33476,33478,4061,33477,32076],"class_list":["post-2287052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-everyday-economics","tag-heat-wave","tag-hiring","tag-interest-rates","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/04\/iStock-1450480638-1024x683.jpeg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2287052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3267"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2287052"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2287052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2287053"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2287052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2287052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2287052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}