there is more softness in the jobs economy than people have thought in the past. what the government report says each month has been suggesting at least from the labor department s side of things that the jobs market has been relatively strong. all of this is holding up pretty well given the economic stresses due to inflation, the federal reserve s interest rate hiking campaign and of course the recent bank failures that we ve seen over the last month we still continue to see more job strength in certain industries out there, though it was again prevalent this month. hospitality and leisure gaining jobs, construction all gaining jobs but financial services lost jobs, professional and business services lost jobs now, all told the numbers are suggesting what could be the beginning of a bigger economic slowdown now to be fair a number of economists and analysts and experts are been calling for more market slow down or recession in the u.s. for a while, and that s yet to
grocery store, and we did just learned that the mood of consumers darkened in march consumer sentiment falling to a four month low. that s according to the university of michigan, which, interestingly enough found just a limited impact from the bank failures, the biggest bank failure since 2008 now, while consumers may not be overly concerned at this point about the bank crisis, um some economists are worried about the risk of a credit crunch, which would make it more expensive and harder for all of us to borrow. it would potentially slow the economy and might even raise the risk of a recession. the big question at this point is whether or not the federal reserve is worried enough about a credit crunch. and satisfied enough about cooling inflation that it decides to pause its interest rate hiking campaign. victor camera. matt eagan. thank you, matt. and for more on the
housing markets like san diego, seattle, san francisco. they ve seen home prices drop, you know, going forward in the housing market, so much depends on what happens with mortgage rates if the fed is able to pause its interest rate hiking campaign, maybe mortgage rates can actually start to come down a bit. and that would, of course, boost demand for housing and you could see home prices start to go back up. inflation of course , complicating that process of freezing the mortgage rate hikes. matt eagan appreciate that update, as always. thanks, matt. we re following a developing story along the us mexico border. at least 39 people are dead after a fire rips through a migrant detention center. but investigators are learning about the cause that s ahead. plus a senior u. s. military intelligence official admits that america s new drone routes over the black sea will definitely limit intelligence gathering. the fallout from the incident that took place over the black sea when we come back
even as it warned that the sector s troubles could drag down economic growth. america s central bank raised its federal funds rate, which affects many consumer and business loans, to a range 4.5 and 5%. jay powell said policymakers did consider a pause in the interest rate hiking campaign, in light of the banking turmoil, but the consensus for an increase was stronger. before the recent events, we were clearly before the recent events, we were clearly on before the recent events, we were clearly on track to continue with ongoing clearly on track to continue with ongoing rate hikes. in fact, as of a couple ongoing rate hikes. in fact, as of a couple of ongoing rate hikes. in fact, as of a couple of weeks ago, it looks like we would couple of weeks ago, it looks like we would need to raise rates over the course we would need to raise rates over the course of the year more than we had expected at the time in december, at the time of the december, at the time of the december m
policymakers considered a pause in the interest rate hiking campaign of the banking turmoil but the consensus rent increase was strong. but the consensus rent increase was strong- was strong. for the recent event we was strong. for the recent event we were was strong. for the recent event we were clearly - was strong. for the recent event we were clearly on | was strong. for the recent - event we were clearly on track to continue with ongoing rate hikes and is of a couple of weeks ago it looked like we needed to raise rates over the course of the year more than we had expected at the time at the time of the december meeting. we are committed to restoring price stability and all the evidence says that the public has confidence that we will do so. , . ., , ., so. his comments ? the dilemma facin: so. his comments ? the dilemma facing policymakers. so. his comments ? the dilemma facing policymakers. how- so. his comments ? the dilemma facing policymakers. how to - facing policymake