09/19/2026
Reports released this week showed that the economy continued to send mixed signals in August. Consumer spending remained surprisingly strong, with U.S. retail and food-service sales jumping 1.2% from July and 6.0% from one year ago, suggesting that consumers remain resilient despite higher prices and borrowing costs. Inflation, however, remains above the Federal Reserve’s target, prompting the Fed at its September meeting to raise the federal funds rate by 0.25%, bringing the target range to 3.75%-4.00%. The increase in rates continues to create a headwind for housing, where U.S. existing-home sales fell 2.0% in August to a 3.98-million annualized pace. At the same time, inventory increased to a 4.9-month supply, its highest level in more than 10 years, giving buyers more choices and negotiating power. Home prices, however, remained resilient, with the national median existing-home price rising 1.6% from a year ago to $429,100.
Reports released this week showed that the economy continued to send mixed signals in August. Consumer spending remained surprisingly strong, with U.S. retail and food-service sales jumping 1.2% from July and 6.0% from one year ago, suggesting that consumers remain resilient despite higher prices an...
