AU Financial Aggregates August 2026

*fed's Williams: One More Rate Hike May Be Needed In Late 2026 Fed's Williams: The Fed must make sure high inflation does not become entrenched. Williams: Unwavering Dedication Good afternoon. It’s a pleasure to be back at the University at Buffalo. During my tenure as President of the New York Fed, I’ve enjoyed and learned so much from my trips to Western New York—including a “virtual visit” during the pandemic. And while I’m pleased to be here in person today, I just can’t seem to get my timing right. I missed Wing Fest. I couldn’t make the Lucille Ball Comedy Festival. And I didn’t even arrive in time to join the table-slamming at the tailgate on Sunday. At least I’ve gotten the other aspects of my itinerary down, because an important part of my job is to meet with business, community, and civic leaders from throughout the Federal Reserve’s Second District to learn more about our local and regional economies. And I always enjoy meeting with students. I’d like to thank the economics and management students here at UB for hosting me for lunch. Our in-depth conversation reminded me that there’s a lot of interest in what’s going on in the economy. So, I won’t try out new comedy routines or opine on sports; instead, you get to hear me discuss two of my other favorite topics: the U.S. economy and monetary policy. This is as good a time as any to give the official disclaimer, which is that the views you will hear today are mine alone and do not necessarily reflect those of the Federal Open Market Committee (FOMC) or others in the Federal Reserve System. The U.S Economy

In the 12 months to August 2026: • The Consumer Price Index (CPI) rose 4.0%, up from 3.5% in the 12 months to July 2026. • Trimmed mean inflation was 3.6%, unchanged from the 12 months to July 2026. In the month of August, the CPI rose 0.4% in original and 0.7% in seasonally adjusted terms. table charts CPI annual inflation was 4.0 per cent in the 12 ...

The August 2026 seasonally adjusted estimate: • Total dwellings approved fell 6.1% to 16,953. • Private sector houses rose 3.7% to 10,885, while private sector dwellings excluding houses fell 21.2% to 5,674. • The value of residential building fell 0.6% to $11.30b. • The value of non-residential building fell 44.8% to $5.53b. table chart The seasonally ...