The Monday Mix: Dec. 12 – 18, 2022

hand holding a coffee cup and newspaper

Top-of-mind economic news as we start the week:

The Federal Reserve raised its key interest rate by half a percent to 4.5% and said it would continue to raise rates into 2023 to combat inflation.

U.S. retail sales (not inflation-adjusted) declined by 0.6% in November, the largest monthly drop in 11 months.

In Dec., the U.S. experienced its biggest contraction in factory activity since May 2020, with new orders diving at the fastest pace since 2008/2009.

— U.S. consumer inflation rose just 0.1% between Oct. and Nov. but was up 7.1% past 12 months vs. Fed’s 2% target.

The U.S. will spend $3.7  billion to commercialize tech that removes carbon dioxide from the atmosphere, provided by the Bipartisan infrastructure Act.

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