U.S. Economic News
February 14, 2018
U.S. Economic Indicators
Consumer prices rose 0.5% in January (up 2.1% on the year). The “core” CPI, which excludes food and energy, rose 0.3% in January and is up 1.8% on the year. BLS Report
Retail sales fell 0.3% in January but were up 3.6% on the year. Core sales — which excludes autos, gasoline, building materials, and food services — were unchanged. Census Bureau Report
Business inventories rose 0.4% in December and were up 3.2% from last year. Manufacturers’ sales increased 0.6% and were up 5.6% on the year. Census Bureau Report
U.S. News
The Wall Street Journal reports that the White House is considering Cleveland Fed President Loretta Mester for the vice chairwoman of the Federal Reserve Board. Mester, who has led the Cleveland Fed since 2014, is considered to be moderately hawkish and would likely support raising interest rates more quickly in order to quash inflationary pressures in the economy. WSJ