Day: February 16, 2021

Last week’s scheduled economic reporting included readings on inflation, Federal Reserve Chair Jerome Powell’s speech on U.S. labor markets, and weekly readings on mortgage rates and jobless claims. Oil Prices Push Inflation Higher in January Rising oil and gasoline prices drove a jump in January’s consumer price index. Inflation rose 0.30 percent month-to-month, which matched analysts’ expectations. The year-over-year inflation rate rose to 1.40 percent but remained lower than the pre-pandemic annual pace of 2.30 percent. The core inflation rate, which excludes volatile food and energy sectors, was unchanged in January. Some analysts expect stronger inflation throughout 2021 due to the impact of stimulus payments and the potential for covid-19 vaccines.…