The US economy added a consensus-topping 311,000 jobs in February, the government said Friday. Economists
Category: economy
America’s Jobless Ranks Swell
“Good” news! US jobless claims rose sharply last week. Note the scare quotes. Generally speaking,
Progress Towards US Labor Market Balance Maddeningly Slow
US job openings were 10.824 million as of the last business day of January, critical
US Wage Growth Still Scorching As ADP Beats
US private sector employers added 242,000 jobs in February, ADP said Wednesday. That was more
Powell Says May Need Faster Hikes. Terminal Rate Likely Higher
The Fed is ready to re-accelerate the pace of rate hikes if necessary, Jerome Powell
6% Or Higher Rates Possible On Hot US Spending: Goldman
What if the world’s largest economy refuses to decelerate? That’s the $26 trillion question looming
What To Make Of China’s ‘Low’ Growth Target
There were three general takeaways from what I described as China’s “cautious” growth target for
Fed May Need To Torch $30 Trillion To Tame Inflation
The Fed’s credibility problem is beginning to grow again. And no, I don’t mean the
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
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