Not Always Sunny! Philly Fed Non-Manufacturing Survey SCREAMS Stagflation (Powell And Fed Acholytes Descend On Jackson Hole Wyoming)
by confoundedinterest17 It’s NOT always sunny in Philadelphia. Particularly when the Philly Fed non-manufacturing survey screams stagflation (a nauseating combination of economic slowdown and inflation). After a positive surprise in July, Philly Fed’s non-manufacturing survey slumped back into contraction in August (from +1.4 to -13.1). Additionally, while respondents continue to expect a growth over the next …