
MarketMinute | New home construction surges dramatically!
In his bi-annual testimony before Congress, Fed Chair Powell hammered home the message that the Fed is not done raising rates to fight inflation. Jobless claims held steady at a 20-month high, remaining elevated for a 3rd straight week and signaling the labor market may be softening. Consumer sentiment rose 8% last month to the highest level in 4 months, reflecting greater optimism about inflation and the economy. Single-family homebuilding projects surged 21% in May, the most in more than 3 decades....
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