PCE Inflation Rises 2.6% in December as Expected

Published on January 31, 2025

The BEA's Personal Income and Outlays report showed inflation remained elevated at the end of 2024. The Fed’s preferred inflation gauge, the PCE price index, rose 2.6% year-over-year in December and 0.3% from November, aligning with expectations.

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Real Disposable Income Per Capita Up 0.1% in December

January 31, 2025
With the release of December's report on personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. At two decimal places, the nominal 0.32% month-over-month change in disposable income comes to 0.06% when we adjust for inflation. The year-over-year metrics are 4.22% nominal and 1.63% real.

Raymond James Sees Recruiting Cool; Ameriprise Adds 91 Advisors

January 31, 2025
In earnings calls, both Raymond James and Ameriprise cited strong recruiting pipelines as they beat analysts’ income estimates.