If you’re driving down a US highway in the left lane at a “respectable” speed (nobody does the speed limit in the left lane, so
Category: economy
Jim Bullard Abandons Doves In Bitter Betrayal
Someone may need to remind Jim Bullard what a “Jim Bullard” does. In remarks to CNBC Friday morning, Bullard delivered what might fairly be described
Jobless Claims Surge, Philly Prices Highest Since Horse And Buggy
412,000 Americans filed for unemployment benefits last week, far more than expected. Out of nearly four-dozen economists polled, no one predicted a headline initial claims
Bubble Watching In US Housing
Housing starts rose in May, but missed estimates on the heels of April’s lackluster showing. Starts logged a 1.572 million annual rate (figure below), short
China’s Recovery Is Rolling Over
All the usual questions lingered ahead of the June Fed meeting. The balance of evidence suggests the world’s largest economy may have hit “peak” growth
The Economic Question Of Our Time
Have we entered a “high inflation regime”? At this point, asking that question feels like Bill Murray’s Phil Connors finally losing his patience while reading
As ‘K-Shaped’ Inflation Fears Worsen, $650 Billion Says It’s Transitory
You may not be buying the Fed’s “transitory” characterization of inflation, but nearly three quarters of investors polled for the June vintage of BofA’s closely
A Depressing Conjuncture That Will Change No Minds
In what may well be further evidence to support the view that the US economy is already cooling, retail sales for May missed estimates by
Stars May Be Out Of Alignment For Market’s Favorite Trade
Hopefully, you don’t find yourself in the unenviable position of being forced to say, definitively, whether the reflation trade has run its course in the
The Biggest Risk To The Inflation Trade Is… Inflation?
The inflation trade is in jeopardy from… inflation. That’s one takeaway from the latest installment of BofA’s popular weekly “Flow Show” series. The bank’s Michael
For US Consumers, Inflation Woes Persist Despite Sentiment Bump
Fortunately for everyone other than headline writers, inflation expectations fell in the preliminary read on University of Michigan sentiment for June. Last month, year-ahead expectations
Who Are America’s Real ‘Lazy Freeloaders?’
I’ve variously argued that to the extent imbalances in the labor market are the result of generous federal unemployment benefits, it wouldn’t be the worst
Stop The Presses: Albert Edwards Agrees With The Fed
“Albert Edwards agrees with the Fed” isn’t something you hear very often, but it’s applicable when it comes to inflation. Or at least in the
Jobless Claims And Scarce Cake Pops
376,000 Americans filed for unemployment benefits last week, down 9,000 from the previous week to yet another new pandemic-era low. The market was looking for
En’Core’
The most important CPI print in recent memory (according to the hype machine) didn’t disappoint. Or at least not if you were in the camp
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