Bidenomics? C&I Lending Growth Crashes Along With Bank Credit Growth (WTI Crude Oil UP 1% This Morning) 30-year Mortgage Rates At 7.27%

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by confoundedinterest17

Bidenomics, aka the Federal government takeover of the US economy with Soviet-style economic central planning, is highly dependent on loose Federal Reserve monetary policy (Janet Yellen and Powell’s wild overreaction to the massively inappropriate Covid shutdowns),

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So, how is Bidenomics working out? On the bank lending front, commercial and industrial (C&I) lending growth is crashing along with bank credit growth YoY.

The US Treasury 10Y-2Y yield curve remains deeply inverted at -91.031 basis points and M2 Money growth has crashed. The 30 year mortgage rate is hovering around 7.27%.

And WTI Crude oil futures are up 1% this morning.

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The body of Bidenomics.

Here is a pic of Biden sniffing Idaho.