.comment-link {margin-left:.6em;}

Economy

Economic Data (USA)

Thursday, February 22, 2018

Crude Oil Inventories Report for Week of February 16, 2018

The U.S. Crude Oil Inventories report for the week that ended on February 16, 2018 was released this morning:

-- Change from Last Week: -1,600,000 Barrels

-- Change from Last Year (Y/Y): -98,200,000 Barrels

-- Current U.S. Crude Oil Stocks: 420,500,000 Barrels

Diminishing crude oil inventories often translate to higher crude oil prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

Labels: , , , ,


>  SITEMAP  <

Leading Economic Index for January 2018

The Conference Board® released its Leading Economic Index® (LEI) for January 2018 this morning:

==============

Index for December: 108.1 (The baseline 100 score is associated with 2016 data.)

Predicted: +0.6%
Actual: +1.028%

  • Previous Month: +0.6%

  • Two Months Previous: +0.4%

==============

The yellow-highlighted percentage represents the month-to-month change for the index.  The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The LEI is a composite of 10 of the nation's economic data releases that's put together by The Conference Board. Statistically, the components listed below have shown a significant increase or decrease before national economic upturns or downturns:

  1. The Standard + Poor's 500 Index

  2. Average weekly claims for unemployment insurance

  3. Building permits for new private housing

  4. The interest rate spread between the yield on the benchmark 10-Year Treasury Note and Federal Funds

  5. ISM® Index of New Orders

  6. Manufacturer's new orders for consumer goods or materials

  7. Manufacturers' new orders, nondefense capital goods excluding aircraft orders

  8. Average weekly manufacturing hours

  9. Average consumer expectations for business conditions

  10. Leading Credit Index™

==============

Leading Economic Index (LEI) - January 2018
Leading Economic Index (LEI) - January 2018

==============

From Today's Report:

"...'The U.S. LEI accelerated further in January and continues to point to robust economic growth in the first half of 2018. While the recent stock market volatility will not be reflected in the U.S. LEI until next month, consumers’ and business’ outlook on the economy had been improving for several months and should not be greatly impacted,' said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. 'The leading indicators reflect an economy with widespread strengths coming from financial conditions, manufacturing, residential construction, and labor markets.'..."

==============


Labels: , , ,


>  SITEMAP  <

New Unemployment Insurance Claims for The Week of February 17, 2018

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on February 17, 2018:

Predicted: 230,000
Actual: 222,000

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

  • Previous Week (revised): 229,000
  • 4-Week Moving Average: 226,000
========

From today's report:

"...Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal..."

========


Labels: , , , ,


>  SITEMAP  <

Wednesday, February 21, 2018

Existing Home Sales During January 2018

The Existing Home Sales report for January 2018 was released by The National Association of Realtors® (NAR) this morning:

Predicted: 5,650,000
Actual: 5,380,000

  •  Change from Previous Month: -3.2%
  •  Change from One Year Previous: -4.8%
==========

Inventory: 1,520,000 (3.4 months supply)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

Median Price for A Used Home During January 2018: $240,500

Change from One Year Previous: +5.8%

---------

Average Price for A Used Home During January 2018: $282,100

Change from One Year Previous: +4.7%

------------------------------------------------------ 



==========

From today's report:

"...Existing-home sales slumped for the second consecutive month in January and experienced their largest decline on an annual basis in over three years, according to the National Association of Realtors®. All major regions saw monthly and annual sales declines last month.

...Lawrence Yun, NAR chief economist, says January’s retreat in closings highlights the housing market’s glaring inventory shortage to start 2018. 'The utter lack of sufficient housing supply and its influence on higher home prices muted overall sales activity in much of the U.S. last month,' he said. 'While the good news is that Realtors® in most areas are saying buyer traffic is even stronger than the beginning of last year, sales failed to follow course and far lagged last January’s pace. It’s very clear that too many markets right now are becoming less affordable and desperately need more new listings to calm the speedy price growth.'
...'Another month of solid price gains underlines this ongoing trend of strong demand and weak supply. The underproduction of single-family homes over the last decade has played a predominant role in the current inventory crisis that is weighing on affordability,' said Yun. 'However, there’s hope that the tide is finally turning. There was a nice jump in new home construction in January and homebuilder confidence is high. These two factors will hopefully lay the foundation for the building industry to meaningfully ramp up production as this year progresses.'

First-time buyers were 29 percent of sales in January, which is down from 32 percent in December 2017 and 33 percent a year ago. NAR’s 2017 Profile of Home Buyers and Sellers – released in late 2017 – revealed that the annual share of first-time buyers was 34 percent.

According to Freddie Mac, the average commitment rate (link is external) for a 30-year, conventional, fixed-rate mortgage moved higher for the fourth straight month to 4.03 percent in January from 3.95 percent in December. The average commitment rate for all of 2017 was 3.99 percent.

'The gradual uptick in wages over the last few months is a promising development for the housing market, but there’s risk these income gains could be offset by the recent jump in mortgage rates,' said Yun. 'That is why the pace of added new and existing supply in the months ahead is worth monitoring. If inventory conditions can improve enough to cool the swift price growth in several markets, most prospective buyers should be able to absorb the higher borrowing costs.'

Properties typically stayed on the market for 42 days in January, which is up from 40 days in December 2017 but down from a year ago (50 days). Forty-three percent of homes sold in January were on the market for less than a month.

...NAR President Elizabeth Mendenhall, a sixth-generation Realtor® from Columbia, Missouri and CEO of RE/MAX Boone Realty, says Realtors® in several markets are reporting that the spring buying season appears to be starting early this year. 'Those planning to buy a home this spring should look into getting pre-approved for a mortgage now and start having those serious conversations with their real estate agent on what they’re looking for in a home and where they want to buy,' she said. 'With demand exceeding supply in most areas, competition will only heat up in the months ahead. Beginning the home search now could lead to a successful and less stressful buying experience.'

All-cash sales were 22 percent of transactions in January, which is up from 20 percent in December 2017 but down from 23 percent a year ago. Individual investors, who account for many cash sales, purchased 17 percent of homes in January, up from 16 percent both last month and a year ago.

Distressed sales – foreclosures and short sales – were 5 percent of sales in January, unchanged from December 2017 and down from 7 percent a year ago. Four percent of January sales were foreclosures and 1 percent were short sales..."

==========

  • The monthly Existing Home Sales report is released on or around the 25TH day of each month.

========



========

 

Labels: , , , , , ,


>  SITEMAP  <

Friday, February 16, 2018

All 3 Major Stock Market Indices Rose On The Week

Summary of U.S. Markets for the Week Ending February 16, 2018:

===================================

Dow Jones Industrial Average (DJIA) closed @ 25,219.38:

- added 19.01 points (+0.0754%) on the day.
- gained 1,028.48 points (+4.252%) on the week.
- lost 1,397.33 points (-5.25%) since the January 26, 2018 record-high close (26,616.71.)

---------------------------
S and P 500 Index: closed @ 2,732.22:

- gained 1.02 points (+0.0373%) on the day.
- added 112.67 points (+4.301%) on the week.
- lost 140.65 points (-4.896%) since the January 26, 2018 record-high close (2,872.87.)

--------------------------- 

NASDAQ Composite Index closed @ 7,239.47:

- lost 16.96 points (-0.234%) on the day.
- gained 364.98 points (+5.309%) on the week.
- lost 266.30 points (-3.548%) since the January 26, 2018 record-high close (7,505.77.)

===================================

NYMEX Crude Oil for Future Delivery closed @ $61.68 per barrel

Comex Gold for April Delivery closed @ $1,356.20 per ounce

In New York, the U.S. dollar buys 0.80593 euros

In New York, the euro buys 1.2408 U.S. dollars

The United States Prime Rate is 4.50%

The Target Range for the Fed Funds Rate is 1.25% - 1.50%

10-Year Treasury Note Yield is currently @ 2.87%


===================================


Standard and Poor's 500 Index Chart
Standard and Poor's 500 Index Chart

===================================


Labels: , , , , , , ,


>  SITEMAP  <

Import and Export Price Indexes for January 2018

The Labor Department's Bureau of Labor Statistics this morning released its report on U.S. Import and Export Price Indexes for January 2018:

Import Prices
Predicted: +0.6%
Actual: +1.0%

Change From 12 Months Previous: +3.6%

===============

Export Prices
Predicted: +0.3%
Actual: +0.8%

Change From 12 Months Previous: +3.4%

===============
 
The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

  • Imports: the cost of goods produced in other countries and sold in the United States.
  • Exports: the cost of goods produced in the USA and sold in other countries.

Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.



Labels: , , , ,


>  SITEMAP  <

Housing Starts During January 2018

The U.S. Commerce Department this morning released its Housing Starts report for January 2018:

---------------------------------------------------

Housing Starts:
Predicted: 1,232,000
Actual: 1,326,000

Change From Previous Month: +9.7%
Change From One Year Previous: +7.3%

---------------------------------------------------

Building Permits:
Predicted: 1,300,000
Actual: 1,396,000

Change From Previous Month: +7.4%
Change From One Year Previous: +7.4%

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month.  Seasonally adjusted annual rate.  The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States,or about the American construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise --  and vice versa.


================

Housing Starts - January 2018
Housing Starts - January 2018

================

Labels: , , , ,


>  SITEMAP  <

Thursday, February 15, 2018

Producer Price Index - Final Demand (PPI-FD) for January 2018

The Producer Price Index - Final Demand (PPI-FD) for January 2018 was released this morning:

Predicted: +0.4%
Actual: +0.4%

Change from 12 months previous: +2.7%

=============

Below is the PPI-FD when food and energy are removed:

Predicted: +0.2%
Actual: +0.4%

Change from 12 months previous: +2.2%

=============

The above, yellow-highlighted percentages represent the month-to-month change in prices received by domestic producers of goods and services, for goods, services and construction in the United States, for final demand.

Final Demand = personal consumption (consumers), exports, government purchases and capital investment.

The PPI-FD is released by the Labor Department's Bureau of Labor Statistics.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.



Labels: , , , , , ,


>  SITEMAP  <

New Unemployment Insurance Claims for The Week of February 10, 2018

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on February 10, 2018:

Predicted: 229,000
Actual: 230,000

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

  • Previous Week (revised): 223,000
  • 4-Week Moving Average: 228,500
========

From today's report:

"...Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal..."

========



Labels: , , , ,


>  SITEMAP  <

Industrial Production + Manufacturing + Capacity Utilization During January 2018

The Industrial Production, Manufacturing and Capacity Utilization numbers for January 2018 were released by the Federal Reserve this morning:

Industrial Production:
Predicted: +0.2%
Actual: -0.1%

Manufacturing:
Predicted: +0.2%
Actual: 0.0%

The yellow-highlighted percentages represent the month-to-month change in manufacturing, and physical output from mining operations, utility plants and factories for the entire United States.

Capacity Utilization Rate:
Predicted: 78.0%
Actual: 77.5

The Capacity Utilization Rate represents the use of available resources at mining operations, utility plants and factories for the entire United States last month.

The "predicted" figures are what economists were expecting, while the "actual" is the true or real figure.

From today's report:

"...Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average..."




Labels: , , ,


>  SITEMAP  <

Wednesday, February 14, 2018

U.S. Retail And Food Services Sales Report for January 2018

The Commerce Department this morning released advanced estimates of U.S. Retail and Food Services Sales for January 2018:

Predicted: +0.3%
Actual: -0.3%

The yellow-highlighted percentage represents the month-to-month change in total sales receipts for retailers that sell durable and non-durable goods, and retailers that provide food and beverage services.

=================

-- Previous Month (revised): 0.0%

-- Estimated Retail Sales During January: $492,000,000,000

-- Change from 12 Months Previous: +3.6%

=================

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

Labels: , ,


>  SITEMAP  <

Consumer Price Index (CPI) for January 2018

Earlier this morning, the Labor Department's Bureau of Labor Statistics released the Consumer Price Index (CPI) for January 2018:

=========================================

Predicted: +0.3%
Actual: +0.5%

(Change from 12 months previous: +2.1%)

=========================================

Below is the CPI when food and energy are removed, also known as core CPI:

Predicted: +0.2%
Actual: +0.3%

(Change from 12 months previous: +1.8%)

=========================================

The above, yellow-highlighted figures represent the seasonally adjusted, month-to-month change in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

General categories that constitute the CPI are:

  • Healthcare
  • Housing
  • Clothing
  • Communications
  • Education
  • Transportation
  • Food and Beverages
  • Recreation
  • Miscellaneous Goods and Services (grooming expenses, etc.)


Labels: , , , ,


>  SITEMAP  <

Crude Oil Inventories Report for Week of February 9, 2018

The U.S. Crude Oil Inventories report for the week that ended on February 9, 2018 was released this morning:

-- Change from Last Week: +1,800,000 Barrels

-- Change from Last Year (Y/Y): -96,000,000 Barrels

-- Current U.S. Crude Oil Stocks: 422,100,000 Barrels

Diminishing crude oil inventories often translate to higher crude oil prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).


Labels: , , , ,


>  SITEMAP  <

Tuesday, February 13, 2018

NFIB Small Business Optimism Index for January 2018

The National Federation of Independent Business® (NFIB®) released its Small Business Optimism Index (SBOI) for January 2018:

=========

Predicted: 105.5
Actual: 106.9

  • Change from Previous Month: +1.9066% (+2.0 points)
  • Change from 12 Months Previous: +0.9443% (+1.0 point)

=========

The previous month's SBOI reading was 104.9.

=========


NFIB Small Business Optimism Index - January 2018
NFIB Small Business Optimism Index - January 2018

=========

Small Business Outlook - January 2018
Small Business Outlook - January 2018

=========

From today's report:


"...The Small Business Optimism Index jumped two points to 106.9 in January and set a record with the number of small business owners saying Now Is a Good Time to Expand, according to NFIB’s Small Business Economic Trends Survey, released today.

'Main Street is roaring,' said NFIB President and CEO Juanita Duggan. 'Small business owners are not only reporting better profits, but they’re also ready to grow and expand. The record level of enthusiasm for expansion follows a year of record-breaking optimism among small businesses.'

Now Is a Good Time to Expand registered at 32 percent, the highest level in the history of the NFIB survey, which began in 1973. Actual Earnings climbed up 11 points from December, the highest level reported since 1988. Plans to make Capital Outlays jumped up two points, and Plans to Increase Inventories gained four points.

'The historically high index readings over the last year tell us small business owners have never been more positive about the economy,' said NFIB Chief Economist Bill Dunkelberg. 'This is in large response to the new management in Washington tackling the biggest concerns of small business owners – high taxes and regulations.'

As small business owners struggle to find qualified workers for open positions, reports of higher worker compensation rose four percentage points to a net 31 percent, the highest reading since 2000 and among the highest in the 45 years of NFIB’s survey. Plans to raise compensation also rose one point to a net 24 percent, the highest reading since 1989. 

'Finding qualified workers now exceeds taxes and regulations as the top concern for small businesses,' said Duggan..."

 =========

  • Small business survey questions can be found at the end of today's report.
  • The baseline "100" score is associated with 1986 survey data.
=========



Labels: , , , , ,


>  SITEMAP  <

Friday, February 09, 2018

All 3 Major Stock Market Indices Retreated On The Week

Summary of U.S. Markets for the Week Ending February 9, 2018:

===================================

Dow Jones Industrial Average (DJIA) closed @ 24,190.90:

- added 330.44 points (+1.385%) on the day.

- lost 1,330.06 points (-5.212%) on the week.

- lost 2,425.81 points (-9.114%) since the January 26, 2018 record-high close (26,616.71.)

---------------------------

S and P 500 Index: closed @ 2,619.55:

- added 38.55 points (+1.494%) on the day.

- lost 142.58 points (-5.162%) on the week.

- lost 253.32 points (-8.818%) since the January 26, 2018 record-high close (2,872.87.)

--------------------------- 

NASDAQ Composite Index closed @ 6,874.49:

- gained 97.33 points (+1.436%) on the day.

- lost 366.46 points (-5.061%) on the week.

- lost 631.28 points (-8.411%) since the January 26, 2018 record-high close (7,505.77.)

===================================

NYMEX Crude Oil for Future Delivery closed @ $59.20 per barrel

Comex Gold for April Delivery closed @ $1,315.70 per ounce

In New York, the U.S. dollar buys 0.81626 euros

In New York, the euro buys 1.2251 U.S. dollars

The United States Prime Rate is 4.50%

The Target Range for the Fed Funds Rate is 1.25% - 1.50%

10-Year Treasury Note Yield is currently @ 2.83%


===================================

Dow Jones Industrial Average (DJIA) Chart
Dow Jones Industrial Average (DJIA) Chart

===================================

Labels: , , , , , , ,


>  SITEMAP  <

Thursday, February 08, 2018

New Unemployment Insurance Claims for The Week of February 3, 2018

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on February 3, 2018:

Predicted: 235,000
Actual: 221,000

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

  • Previous Week (unrevised): 230,000
  • 4-Week Moving Average: 224,500
========

From today's report:

"...Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal..."

========


Labels: , , , ,


>  SITEMAP  <

Wednesday, February 07, 2018

Crude Oil Inventories Report for Week of February 2, 2018

The U.S. Crude Oil Inventories report for the week that ended on February 2, 2018 was released this morning:

-- Change from Last Week: +1,900,000 Barrels

-- Change from Last Year (Y/Y): -88,300,000 Barrels

-- Current U.S. Crude Oil Stocks: 420,300,000 Barrels

Diminishing crude oil inventories often translate to higher crude oil prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).


Labels: , , , ,


>  SITEMAP  <

Tuesday, February 06, 2018

International Trade Balance Level for December 2017

The International Trade Balance Level for December 2017 was released by The U.S. Commerce Department this morning:

Predicted: -$51,900,000,000
Actual: -$53,100,000,000

The "actual" figure above represents the balance of trade -- imports vs. exports -- between the United States and all other countries, and includes both goods and services. A negative number represents a trade deficit, while a positive number represents a trade surplus.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

Previous Month (revised):  -$50,400,000,000

==============

International Trade Balance Level - December 2017
International Trade Balance Level - December 2017

==============




Labels: , , , ,


>  SITEMAP  <

Job Openings and Labor Turnover Survey (JOLTS) for December 2017

The Job Openings and Labor Turnover Survey (JOLTS) for December 2017 was released by the Labor Department this morning:

============

Job Openings

Predicted: 5,900,000
Actual:    5,811,000

  • Previous Month (revised): 5,978,000

  • One Year Previous: 5,539,000

=============

Hires: 5,488,000

Total Separations: 5,238,000

=============

The above, yellow-highlighted percentage represents the estimated number of job openings in the United States during the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

Here's how the Labor Department defines Total Separations:

"Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations includes separations due to retirement, death, disability, and transfers to other locations of the same firm."

=============

Labels: , , , , , , ,


>  SITEMAP  <

Monday, February 05, 2018

ISM Non-Manufacturing Index (NMI®) for January 2018

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for January 2018:

Predicted: 56.2%
Actual: 59.9%

==========

Previous month (revised): 56.0%

==========

The NMI is a reliable barometer of the U.S. services sector; above 50% implies expansion, while a reading below 50% implies that the services sector contracted.

Service categories include: Agriculture, Forestry, Fishing + Hunting; Mining; Utilities; Construction; Wholesale Trade; Retail Trade; Transportation + Warehousing; Information; Finance + Insurance; Real Estate, Rental + Leasing; Professional, Scientific + Technical Services; Management of Companies + Support Services; Educational Services; Health Care + Social Assistance; Arts, Entertainment + Recreation; Accommodation + Food Services; Public Administration; and Other Services (services such as Equipment + Machinery Repairing; Promoting or Administering Religious Activities; Grantmaking; Advocacy; and Providing Dry-Cleaning + Laundry Services, Personal Care Services, Death Care Services, Pet Care Services, Photofinishing Services, Temporary Parking Services, and Dating Services).

==========

From today' report:

"...Economic activity in the non-manufacturing sector grew in January for the 96th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®..."

==========

Here's a sampling of comments made by survey participants:

  •     "Executive management [is] excited about tax breaks for CapEx purchases in [the] new tax bill."
    (Information)

  •     "Month-over-month steady growth, on average, [is] 3 percent on project volume and 1 percent on total revenue."
    (Construction)

  •     "Signs of strong growth [in] financial performance expectations given the recent tax changes."
    (Finance and Insurance)

  •     "Positive outlook for 2018. We see huge pricing pressure."
    (Health Care and Social Assistance)

  •     "Business is starting off solid."
    (Accommodation and Food Services)

  •     "First quarter begins slow like 2017, but expect things to pick up later in Q1. Outlook continues to look bright for 2018."
    (Professional, Scientific and Technical Services)

  •     "Business activity is low due to the continued partial funding [of] bills passed (continuing resolutions)."
    (Public Administration)

  •     "Overall, sales velocity looks strong. Some regional differences due to weather conditions, but overall, a strong month."
    (Wholesale Trade)




ISM Non-Manufacturing Index (NMI) History - January 2018
ISM Non-Manufacturing Index (NMI) History

Labels: , , , ,


>  SITEMAP  <

www.FedPrimeRate.com
Entire Website © 2018 FedPrimeRate.comSM


This website is neither affiliated nor associated with The United States Federal Reserve in any way.
Information in this website is provided for educational purposes only. The owners of this website
make no warranties with respect to any and all content contained within this website. Consult a
financial professional before making important decisions related to any investment or loan
product, including, but not limited to, business loans, personal loans, education loans, first
or second mortgages, credit cards, car loans or any type of insurance.