They’re looking at their own situation to determine that. GDP is being propped up by government spending and monetary policy, all the while households are struggling with inflation.
— Steven Hasty (@StevenHasty1) June 4, 2024
The Fed made two cardinal policy mistakes in just two years
1) Calling inflation transitory
2) Prematurely pivoting in Dec 2023Now they turned to higher for longer again.
How after that can anybody trust any word the US central bank says?👇t.co/2MH7pQEMp6
— Global Markets Investor (@GlobalMktObserv) June 4, 2024
Majority of Middle-Class Americans Say They Struggle Financially
- Majority of people feel financially insecure in survey
- A third of respondents feel ‘extreme stress’ about paying debt
Get ready for stocks to hit a wall this summer, says JPMorgan
Summer’s here and the time is right for anything to happen on Wall Street.
A glitchy Monday sparked wild hopes for a 99% discount on Berkshire Hathaway stock that is unlikely to happen, while one influential trader seems to have rebooted the GameStock meme-trading craze. And while most economists see no near-term Fed rate cuts, some see a July surprise as possible.
The richest 10% of ZIP codes delinquency rate has climbed from 4.8% in the second quarter of 2022 to 7.4% in the first quarter of 2024, or 54% in relative terms, per Federal Bank of St Louis.
— unusual_whales (@unusual_whales) June 4, 2024
Crude is imploding…the strong economy narrative. pic.twitter.com/IvUW3B5hOS
— Mac10 (@SuburbanDrone) June 4, 2024