The price of Western Texas Intermediate (WTI) crude oil edged higher to $78.95 on Thursday following a surprise draw in US crude stocks. The Energy Information Administration (EIA) reported a decline of 1.4 million barrels in crude inventories for the week ending May 3, signaling an increase in demand. This news provided support for WTI
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The deteriorating labor market has the potential to impact wage growth, which in turn could reduce disposable income for consumers. This decrease in disposable income may lead to consumers curbing their spending habits, ultimately dampening demand-driven inflation in the economy. Effect on Interest Rates A softer inflation environment resulting from decreased consumer spending could provide
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