The Monday Mix: Jan. 30 – Feb. 5, 2023
Top-of-mind economic news as we start the week:
— The Federal Reserve raised its key interest rate by 25 basis points to range of 4.5% – 4.75%, the highest level since October. 2007.
— The US economy added a remarkable 517,000 jobs in January, boosted by seasonal hiring; unemployment rate is just 3.4%, lowest since 1969.
— About 50% of US office workers in major cities went into their employer’s offices in latest week, the highest post-pandemic level.
— In March, the European Central Bank plans to raise its key interest rate 50 basis points to 2.5%, aiming to fight inflation that is running at 8.5% annualized.
— The European Union’s embargo of refined oil products from Russia kicked in February 5, two months after the G7 put a $60 price cap on Russian oil.
Disclaimer: Clicking on any of the above links will take you away from the Laird Norton Wealth Management web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.