Retail spending increased 0.9% in April, boosted by demand and inflation
Retail sales were expected to rise 1% in April, according to Dow Jones estimates.
Retail sales were expected to rise 1% in April, according to Dow Jones estimates.
"Housing leads the business cycle, and housing is slowing," said NAHB Chairman Jerry Konter, a builder and developer.
Fed Governor Christopher Waller pledged that the rate-setting group wouldn't make the same mistakes on inflation that it did in the 1970s.
April's consumer price index may show inflation has reached its height.
The changes would tailor the Community Reinvestment Act's approach to making sure banks are not engaging in "redlining."
Wednesday's rate hike will push the federal funds rate to a range of 0.75%-1%.
Private payrolls increased by just 247,000 for the month, well below the 390,000 Dow Jones estimate.
Total mortgage application volume rose 2.5% for the week ended April 29 compared with the previous week, according to the MBA's seasonally adjusted index.
Inflation expectations over the next year fell to a median 6.3% in April, a 0.3 percentage point decrease from the record high the previous month.