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Last week’s economic data increasingly gave investors hope that the Federal Reserve could hold interest rates steady this month, following a hike in July that brought rates to their highest level in 22 years. But the Fed hasn’t ruled out additional rate increases, and that could still happen unless inflation slows further.
The yield on the 10-year Treasury bond earlier this month topped 4.3%, the highest level since 2008.
US inflation may have remained elevated in July, but consumers just wanted to have some fun.
Demand for mortgages has plunged to its lowest level since April 1995.
Washington, DC (CNN) — Americans felt more pessimistic about the economy in August, following two straight months of growing confidence.