Liquidity Fairy Alert! Up and up it goes! Bank Term Funding Program usage above $100B for the 13th consecutive week ($107.527B vs $107.386B 8/17). An over reliance on central bank funding that is growing faster than the rate of inflation, BTFP is a moral hazard! August 31, 2023 10:29 pm
Inflation Alert! The Fed’s preferred inflation measure continues to rise! Excluding food and energy, the PCE price index increased 4.2 percent from one year ago–still more than DOUBLE the Fed’s 2% target. More fuel for rate hikes… August 31, 2023 11:42 am
“We currently are earning less and spending more (adjusted for inflation) than at the worst point of the Great Depression” August 31, 2023 10:35 am
Macy’s reports uptick in credit card delinquencies – as America’s household debts swell to $1 TRILLION thanks to rampant inflation and higher interest rates August 26, 2023 10:48 pm
Fed Chair Jerome Powell: “We have tightened policy significantly over the past year.” “Inflation has moved down from its peak…it remains too high” “We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident” August 25, 2023 1:56 pm
Nvidia’s gain in Q3 was seen as good for Tech stocks, but this quarter’s gain is seen as negative…. This rally guarantees that Powell will monkey hammer markets on Friday… “most members worry that the inflation fight is far from over” August 23, 2023 9:58 pm
NY Fed Survey: Expected likelihood of becoming unemployed rises. Meanwhile, conditional on expecting an offer, the average expected annual salary in the next 4 months increased sharply to $67,416 from $60,310 in July 2022, a new record. Wages on offers up over 14% since July 2022, Inflation fuel! August 23, 2023 3:11 pm
Due to ongoing inflation, few Americans, including millionaires, feel assured about their financial situation. August 23, 2023 2:22 pm
UK: Cost of a weekly food shop has soared by more than a THIRD in just two years thanks to rampant inflation, adding £870 a year to a family’s bill August 23, 2023 9:13 am
Lowriding! US Personal Savings Lower Than Pre-Covid As Core Inflation Still Hurts At 4.70% YoY (Large Bank Loan Volumes Shrank Last Week As Deposit Outflows Re-Accelerated) August 20, 2023 8:29 pm
Preview Of Jackson Hole Fed Conference! Will The Fed Continue To Strangle The Economy In Their Zeal To Cool Inflation To 2%? (One Word, YES!) August 20, 2023 7:50 pm
Liquidity Fairy Alert! Bank Term Funding Program usage UP AGAIN (.4% to $107.242B vs $106.864B 8/9), marking the 11th consecutive week over $100B. This looks more and more like there’s an over-reliance on Fed Funding–growing faster than inflation ‘should be,’ I believe the BTFP is a moral hazard! August 17, 2023 7:36 pm
Bidenomics In One Chart! Hourly Pay UP 12% Under Biden, But Inflation Is UP 16% (REAL Wage Growth Is -4%) August 17, 2023 3:53 pm
Inflation Alert! New York Fed Business Survey (New York State, northern New Jersey and southwestern Connecticut): “Employment continued to increase slightly, and wage growth picked up. The pace of price increases was somewhat higher than last month”. Inflation is not slowing down! August 16, 2023 2:06 pm
How To Stop Inflation Without A Recession? Slow Federal Spending And Shrink The Fed Balance Sheet (Return To Demand Economy From Obama/Biden’s Command Economy) August 15, 2023 2:52 pm
Goldman Sachs expects core inflation to fall enough for the Federal Reserve to start cutting rates in Q2 2024… This is a joke right? August 15, 2023 2:47 pm
“India’s retail inflation rose sharply to 7.44% in July due to surging food costs.” (BLOOMBERG) August 14, 2023 4:55 pm
Inflation Alert! In July, the purchasing power of $100 in January 2000 dropped to $55.20 (-$.20 from June). Recall, CPI tracks the loss of purchasing power of your dollars & thereby the purchasing power of your hard earned labor. Folks are 2.1% worse off in terms of real value over the past year! August 14, 2023 8:43 am
Yes, inflation is down. No, the Inflation Reduction Act doesn’t deserve the credit – “most economists say little to none of the drop came from the law.” WOW! WHAT A SHOCKER? August 13, 2023 8:03 pm
PPI For Final Demand Advances 0.3% In July; Services Rise 0.5%, Goods Increase 0.1% – Inflation Is Not Going Away. Jerome Powell Got Stuck ‘Between A Rock And A Boulder’ August 11, 2023 9:41 am
