FightFor20

Fighting for $15 is a critical first step- but what’s next? The Federal Minimum Wage has not been raised since 2009- it sits at $7.25/hour.

[FightFor20 @Fight_For_20]

U.S. job openings fall to nearly 2-year low of 9.6 million. Fewer people are quitting, too.

A sign the U.S. labor market is gradually cooling off, but competition for workers remains intense and is adding to upward pressure on wages and inflation.

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Federal Reserve officials are on track to increase interest rates again at their meeting this week while deliberating whether that will be enough to then pause the fastest rate-raising cycle in 40 years.

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#Home prices drop 7th month in a row…

U.S. home prices fell for seventh-straight monthly decline in January as higher interest rates pressure home prices and housing market overall.

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Fed Meeting Rate Hike

Markets expects a .25% rate increase, taking benchmark rate to a range of 4.75%-5%, highest level since 2007.

What’s interesting is if the move is 0% or .5%, markets will most likely respond negatively. Small window for success as markets remain jittery.

[FightFor20 @Fight_For_20]

According to Recent Study- #Recession Fears.

Most Americans fear the country will slip into a recession in 2023, and 69% believe we are already in one.

While 55% say they would lose everything in prolonged recession.

[FightFor20 @Fight_For_20]

Mortgage Rates Drop!

#Mortgage #refinance rates dropped over the weekend, w/ 30-yr rate falling to lowest level since Dec. 2022.

Expect more of same if #Fed pauses on rate hikes later this week…

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Through the Noise…

The producer price index posted an unexpected decline in February.

The index declined by 0.1%, from the prior month. Economists had expected the index to increase 0.3% month over month.

Signs Fed rate increases are working.

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Breaking CPI News

The CPI increased 0.4% for the month, putting the annual inflation rate at 6%-both readings were in line with expectations.

Unless there are more banking issues that arise, the probability the Fed will raise interest rates a quarter point next week is likely.

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Fed Expectations…

Experts are rapidly shifting expectations over next Fed move amid the crisis of confidence sweeping U.S. banks - market pricing suggests a significant chance the Fed makes no change to interest rates in March.

Which as we know - is both good and bad news…

[FightFor20 @Fight_For_20]

#SVB failure could be win for you.

In wake of #SVB failure many “average joe’s” could benefit from pause on Fed interest rate hike and lower interest rate peak- good news for your wallet, #economy and #inflation.

[FightFor20 @Fight_For_20]

The %U.S. has one of the highest elder poverty rates in the world ~1 in 4 (23.1%) older Americans are poor. #Mexico is even higher at 26%. By contrast, France is just 1 in 25 (4.4%).

The takeaway?

Don’t count on #socialsecurity to secure your retirement. We are on our own.

[FightFor20 @Fight_For_20]

What happened to the stock market?

Stocks fell today after Fed Chairman said strong economic data will likely lead the central bank to lift rates more than expected to fight inflation.

Could further cool housing, too.

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What a Difference 3 Years Makes:

Today, a $600,000 mortgage at 7% - monthly principal and interest is $3,992.

The same size loan at 3%, is $2,530 a month.

Makes it hard to move if you already own.

[FightFor20 @Fight_For_20]

Across the country, home sales have tanked as buyers are turned off by a big rise in mortgage rates. As of last week, mortgage purchase applications are down
41% on a year-over-year basis.

However, all markets are not created equally as Fortune image shows…

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New Home Sales Soar in January

Sales of new U.S. single-family homes jumped to a 10-year high in January as prices declined, but a resurgence in mortgage rates could hinder a much anticipated housing market turnaround.

Who knows what happens next? Look to core CPI for hint…

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Mortgage Rates Reverse Course

The average mortgage rate this week rose to the highest level in months fueled by inflation and economic growth data.

The average 30-year mortgage was 6.50% as of Thursday - highest level since November.

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More Good News, Bad News

The economy is going so strong that economists at major banks, including Goldman Sachs, Bank of America, and Citigroup, lifted their forecasts for peak of Fed funds rate from 5.25% to 5.50%. Expect higher interest for consumers and stock market downturn

[FightFor20 @Fight_For_20]

Bang for your $$
Everyone’s gotta eat

Recession of not - what’s the most expensive food chain, based on average cost of popular meal across 20 cities?

1. #PaneraBread at $14.76
2. #Chipotle at $14.34
3. #BlazePizza at $13.72
4. #ShakeShack at $13.50
5. #JerseyMike’s at $13.23

[FightFor20 @Fight_For_20]

Good News, Not Great…

Inflation remains high. The CPI rose .5% for January, which translates into an annual gain of 6.4%

Slightly higher than monthly estimate of .4% (6.2% on the year).

Still positive that things are moving in the right direction - just not as fast as hoped.

[FightFor20 @Fight_For_20]

Investors try to forecast the Fed’s next move- they will be watching January CPI closely on Tuesday.

The Street’s consensus is that CPI rose 0.5% for the month. The full-year forecast is a rise of 6.2%, which
would be the slowest pace since October 2021.

Stay tuned.