The Fed’s credibility problem is beginning to grow again. And no, I don’t mean the
Category: economy
Inflation Is Embedded In The US Services Sector
Friday’s hotly-anticipated read on the state of the US services sector was good, but it
US Home Prices Fall First Time In 11 Years. But…
It was inevitable, but now it’s official. Sort of. US home prices are falling on
Stargazers
We may be living through the early stages of a “historically unique period.” In the
Disappearing Disinflation
This week’s only marquee data release out of the world’s largest economy was amenable to
Mortgage Apps At New 28-Year Low In Sad ‘Nobody’s Market’
US mortgage rates rose to the highest since November last week, putting further pressure on
China’s Recovery Proceeding Well, China Says
The leadership in Beijing was taken aback both by how rapidly COVID spread across the
Americans (Still) Feel A Recession Coming On
US consumers have a “super bad feeling” (to quote Elon Musk) about the short-term outlook
US Home Price Growth Slows To 29-Month Low
US home prices posted the smallest annual gain in 29 months in December, data released
No End Seen To ECB Hikes As Data Mocks Philip Lane
Last year, inflation in Europe was largely a function of the war and its impact
US Pending Home Sales Boom In Latest Threat To Fed
If pending home sales are a leading indicator, the long run of monthly declines in
Larry Summers Was Right. Most Can’t Accept It
In March of 2021, when the Biden administration was on the verge of sending Americans
US Inflation Accelerates, Spending Surges In Nightmare For Fed
Surprise! Americans spent more than economists anticipated last month, and inflation ran hotter than expected.
New US Home Sales Soar As Prices Plunge Most Ever
New US home sales surged in January and supply shrank, according to volatile data released
The ‘Great Irony’ Of The Inflationary 2020s
“War, protectionism, de-globalization… higher inflation, higher rates,” BofA’s Michael Hartnett wrote. In the latest installment
Overhyped Fed Minutes Fail To Impress
“Almost all” Fed officials backed a step-down to 25bps rate hike increments at this month’s
US Home Sales Fall 12th Month. Prices Near Milestone Drop
Recently awakened animal spirits aren’t showing up in existing home sales just yet. A week
Upbeat US PMIs Come With Ominous Warning For Fed
Economic activity in the US picked up markedly in early February, preliminary PMIs for this
Europe Picks Up Steam. Goldman Raises ECB Call
The European economy, largely left for dead late last year, continued to perform in February,
Forever Inflation?
I argued repeatedly last year that inflation might become stochastic in 2023 and beyond. Much
Are HELOCs Making The Fed’s Job Harder?
When you spend nearly two years minting scores of overnight millionaires, you shouldn’t be terribly
US Card Debt Hits New Record Near $1 Trillion
Americans were the proud owners of a record 564 million credit card accounts at the
Doves Singed By Blazing US Producer Prices
So, about that “pipeline disinflation” story. Markets were treated to yet another hot data release
Animal Spirits Spotted In Homebuilder Sentiment
The animal spirits are stirring. Hot on the heels of data showing the biggest month-to-month
Americans Go On Biggest Shopping Spree Since ‘Stimmy’
US retail sales rose far more than expected last month, key data out Wednesday showed.
UK Inflation Still Running Double-Digits, But Silver Linings Seen
The good news is, UK inflation ran at the slowest pace in four months in
Crucial US Inflation Report Could’ve Been Worse
US consumer prices rose in January by more than expected compared to the same month
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