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ECONOMIC UPDATE June 17 2024 This Week in Focus Last week the JEC Dems analyzed the latest inflation data which showed that prices remained unchanged in May following the 0 3 increase in April Grocery...last week that it will likely cut interest rates only once or twice this year though recent cooler inflation data may accelerate the pace of cuts What to Watch This Week Tuesday June 18th Senate Commerce Science...

recent fiscal year to date net outlays Below is a table reflecting total outlays by category last month the total over the last 12 months as well as the last two prior fiscal years The parenthetical represents...represents the share of total net outlays the category represents in the given period Outlay Category Last Month August 2024 Last 12 Months FY2023 FY2022 Medicare 128 68 billion 18 7 967 38 billion 14 0 847 54 billion...most recent fiscal year to date net receipts Below is a table reflecting total receipts by type last month the total over the last 12 months as well as the last two prior fiscal years The parenthetical represents...

This Week in Focus Last Friday the Bureau of Labor Statistics BLS released employment data for the month of April The U S economy added 175 000 jobs in April unemployment ticked up slightly to 3 9 and hourly...help more than 860 000 Americans enroll in Medicare Savings Programs and save hundreds of dollars a month...

costly borrowing in a crisis The Council of Economic Advisers CEA highlighted how grocery price inflation has cooled over the last year as real wages have risen increasing consumers purchasing power The...

Americans while the second highlights the manufacturing renaissance spurred by investment from the Inflation Reduction Act Bipartisan Infrastructure Law and Chips and Science Act Turning to this week the Fed...expected to hold interest rates steady on Wednesday given continued economic strength and persistent inflation Friday brings new employment data for April with the consensus forecasts that 250 000 jobs were...February FOMC Policy Announcement The FOMC is likely to maintain rates and reiterate that higher inflation numbers have made them more cautious about easing rates Thursday May 2nd Productivity and Unit Labor...

272 000 jobs while the unemployment rate remained at 4 0 This would make June the 41st consecutive month of job growth under President Biden and would continue the longest streak of an unemployment rate...in the Market for Homeowners Insurance Price Discounts and Cheapflation During the Post Pandemic Inflation Surge On the Ubiquity of Declining Business Dynamism...

demands on groundwater supplies Broader climate mitigation investments from both the BIL and the Inflation Reduction Act are also helping to address climate change mitigating its impact on water supplies...Growth Tracker Highlights Families Wages Growing Faste Oct 10 Press Releases JEC Chairman Heinrich Inflation Data is Further Proof That the Fed Should Oct 08 Press Releases U S Economy Performs Better Under...

Headline CPI U inflation was 0 18 percent m m The food price index increased 0 4 percent m m The energy price index decreased 1 9 percent m m Core CPI U inflation was 0 31 percent m m Core inflation excludes...Year over year inflation Headline CPI U inflation was 2 4 percent y y The food price index increased 2 3 percent y y The energy price index decreased 6 8 percent y y Core CPI inflation was 3 3 percent...Cumulative headline CPI U inflation was 20 5 percent The food price index has increased 22 6 percent The energy price index has increased 34 3 percent Cumulative core CPI U inflation was 19 0 percent Real...

over the last year slightly higher than the 3 2 reading in February While inflation remained higher in March yearly inflation is still down nearly two thirds since its peak At the same time wages and salaries...Growth Tracker Highlights Families Wages Growing Faste Oct 10 Press Releases JEC Chairman Heinrich Inflation Data is Further Proof That the Fed Should JEC Democratic G 01 Dirksen Senate Office Building Washington...

importance of groundwater emphasizing how investments from the Bipartisan Infrastructure Law and Inflation Reduction Act can help protect groundwater important for drinking cooking and agriculture against...CPI for April 2024 this Wednesday the newest piece of data tracking the Fed s efforts to reduce inflation The consensus forecast is for CPI to increase by 0 4 matching March s rate and for core CPI to increase...for April early data show that gas prices have fallen steadily in May which should ease future inflation readings JEC Resources ICYMI The Biden Administration Just Took Massive Steps to Protect Workers...