NOT Always Sunny! Philly Fed Business Outlook Falls To -13.7 As Retail Sales Surprise To The Upside (1 Hike Expected At July FOMC Meeting)

by
Sharing is Caring!

by confoundedinterest17

Now that I know that the US is building a railroad from the Pacific Coast to the Indian Ocean (according to Resident Joe Negan), I feel so much better. /sarc

On the other hand, The Philadelphia Fed’s Business Outlook index for June fell to -13.7.

On the positive side, retail sales surprised to the upside which would ordinarily trigger more rate hikes from The Fed. +0,3% MoM in May versus -0.2% MoM expected.

See also  The US faces severe cold, snowstorms, with temperatures plunging and heavy snow expected.

Now Fed Funds Futures are pointing to a rate hike at the July FOMC meeting.

See also  MicroStrategy is no longer a true business; it's primarily a leveraged bet on Bitcoin. Soon, ETF investors will have to buy at least $2.1 billion worth of its shares.

Of course, Biden just had his primary opponent in the 2024 Presidential election and charged with document mishandling.