Podcast: How COVID-19 Has Shifted the U.S. Demographic Outlook

Higher inflation will continue to weigh on consumer and business sentiment, erode purchasing power and dampen real economic growth. This could be a headwind for loan demand, particularly for interest rate sensitive products such as mortgages and commercial...

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $55.9 billion in April, down $0.7 billion from $56.6 billion in March, revised.

Existing home sales increased 3.2% in May to a seasonally adjusted annual rate of 4.17 million. Month-over-month and year-over-year sales increased 3.2%.

The NFIB Small Business Optimism Index fell 0.6 points in May to 95.3, remaining below its 52-year average of 98. The Uncertainty Index rose three points from April to 91, remaining well above its historical average of 68.

Consumer household inflation expectations in May decreased at the short-term horizon and remained unchanged at the medium- and longer-term horizons, according to the Federal Reserve Bank of New York’s most recent Survey of Consumer Expectations.

Consumer credit increased at a seasonally adjusted annual rate of 4.8% in April.