The Latest Breaking News from Dallas Fed

Stock futures waver, bonds rally on Bank of Japan surprise; December retail sales in focus amid gas price retreat; United Airlines shares higher on earnings beat, bullish outlook; Moderna shares leap on positive data from RSV drug trial and Albertsons gets court approval for $4 billion dividend payment.

What a difference a few years make in the Texas oil patch.

Brittney Reeves had been in New York City for nine years when Microsoft asked her to consider working in Dallas. She jumped at the chance.

"So you really had a housing bubble, you had housing prices going up [at] very unsustainable levels and overheating," says Fed Chair Jerome Powell.

Homebuyers may have missed their chance to lock in super-low interest rates, but the window of opportunity for job-seekers remains wide open.

"The possibility of a sharp price correction leading to an economic contraction would further complicate Federal Reserve inflation-fighting efforts" writes the Dallas Fed.

Texas employers added 40,000 jobs in September, more than doubling the number added the previous month when hiring slowed to its lowest rate since early 2021.

A new report shows the number of employed Texans remained virtually unchanged from July to August, while unemployment ticked up slightly.

The Texas economy slowed last month with fewer service companies reporting increases in revenue and more manufacturers reporting declines in new orders, according to surveys by the Federal Reserve Bank of Dallas.