Jobless claims at 44-year low, housing starts surging
Barack Obama is leaving the country in good shape, even though the next president told everyone how horrible we’re doing.
Prospects for a rate hike next month also got a boost from other data on Thursday showing first-time applications for unemployment benefits tumbling to a 43-year low last week and housing starts surging to a nine-year high in October.
The reports painted an upbeat picture of the economy early in the fourth quarter and came as Fed Chair Janet Yellen said the U.S. central bank could raise borrowing costs “relatively soon.”
The Labor Department said its Consumer Price Index increased 0.4 percent last month after rising 0.3 percent in September. In the 12 months through October, the CPI advanced 1.6 percent, the biggest year-on-year increase since October 2014. The CPI increased 1.5 percent in the year to September.
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