This Week's State Of The Economy - What Is Ahead? - 27 May 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/May 29, 2022

This Week's State Of The Economy - What Is Ahead? - 27 May 2022

it looks like higher mortgage rates are starting to have some effect on the housing market as April brought a steep 16.6% decline in new home sales and a 3.9% drop in pending home sales.  On the other side of the ledger, inflation persists as evidenced by personal income rising 0.4% during April, while personal income increased 0.9%. The headline PCE deflator was up 6.3% year-to-year, while the core measure rose 4.9%.




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