Economics | 0 min read | November 2025

US Economic Weekly Update

Our weekly update of the developments and key themes around the US economy

  • We expect core September core PCE inflation of 0.214% m-o-m.
  • We expect the FOMC to pause in December. Less vigilance on inflation risk under new Fed leadership will likely to lead to three quarterly cuts in 2026.
  • Our overview highlights the key releases of US economic market data

US Economic Weekly Key Insights

  • Retail sales disappointed in September; however, more-timely high-frequency data point to a pickup in spending, along with signs of acceleration in cyclical sectors.
  • Labor market data was mixed. Jobless claims fell and the labor differential stabilized, while the Beige Book was pessimistic about the employment situation.
  • Fedspeak this week suggested deep divisions among FOMC participants persist. A Bloomberg report indicated Kevin Hassett appears to be the frontrunner for the next Fed Chair.
  • Read our full US Economic Weekly report here.



US Markets - Economic Data and Events Calendar

Contributors

David Seif

Chief Economist for Developed Markets

Aichi Amemiya

Senior US Economist

Jeremy Schwartz

Senior US Economist

Ruchir Sharma

US Economist

Jacklyn Goloborodsky

US Economist

Disclaimer

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