However, core retail sales came in higher than many economists expected
Earnings hurt by declining property values, rising credit losses
Deputy governor Toni Gravelle gave a speech Thursday on the central bank's balance sheet plans
Credit card balances rise as mortgage growth slows
High interest rates, slowing growth pose major challenges
For a fourth consecutive month, the personal and household goods subsector also rose
Slower housing starts have been expected this year as borrowing conditions and labour shortages affect the pace of building
Experts say economy still playing catch-up after pandemic lows
However, other measures of employment paint a weaker picture of the labour market
The latest figures reflected the job market’s sustained ability to withstand the 11 rate hikes imposed by the Fed