Supply of Labor Fell in 2025 on Immigration Crackdown: Massive Change in Labor Market Dynamics that Explains a Lot by Wolf Richter • Mar 6, 2026 • 7 Comments The annual adjustments of the labor force to the new population estimates are in, and they’re revealing.
Update on the Fed’s Balance Sheet and its Reserve Management Purchases by Wolf Richter • Mar 5, 2026 • 20 Comments Adding T-bills, shedding MBS, Treasury note & bond balances on ice, SRF unused.
Companies Report Raging Inflation, Except in Wages & Rents by Wolf Richter • Mar 5, 2026 • 135 Comments Double-digit increases in employee health insurance costs hold down wage increases.
U.S. Gasoline Demand Fell Further amid Long-Term Structural Shift: Plunging Per-Capita Consumption by Wolf Richter • Mar 4, 2026 • 69 Comments Even as miles driven rose to a record.
Oil Jumps, but It’s Not the 1970s anymore: US Crude Oil Production Hits Record, Net Exports Soar, Imports Decline by Wolf Richter • Mar 3, 2026 • 38 Comments The US has become a large exporter of value-added petroleum products, including diesel and gasoline.
10-Year US Treasury Yield Flipflops, Spikes by 14 Basis Points to 4.07%, after Plunging to 3.93%, amid Massive Volatility by Wolf Richter • Mar 2, 2026 • 61 Comments It undid more than the entire haven trade that had started on Thursday and blew through the hot PPI inflation on Friday.
Drill Baby Drill for 20+ Years: US Natural Gas Production Jumps to Record, Exports via LNG & Pipeline Spike to Record in 2025 by Wolf Richter • Mar 2, 2026 • 30 Comments And the price of US natural gas fell back to where it had been 30 years ago.
Construction Spending on Data Centers, Factories, Powerplants, and Office Buildings: Boom, Bust, and in Between by Wolf Richter • Feb 28, 2026 • 34 Comments Despite the hoopla about data centers, spending on factory construction was five times larger.
Services PPI Inflation Explodes. Goods PPI Jumps as Companies Shuffle Tariffs to Each Other. Food & Energy Plunge by Wolf Richter • Feb 27, 2026 • 104 Comments It will further fuel the acceleration of the Fed-favored PCE Price Index.
AI, the Immigration Crackdown, and Mind-Blowing Overhiring in 2020-2022 Are Now Rattling the Labor Market by Wolf Richter • Feb 26, 2026 • 70 Comments Despite only tepid job creation by the private sector, unemployment remains historically low.
Credit Card Delinquencies, Balances, Burden, Credit Limits, and Collections in Q4 2025 by Wolf Richter • Feb 25, 2026 • 64 Comments Despite the wailing about tapped-out, struggling and cracking consumers, the credit card delinquency rate dropped to multi-year low.
WHOOSH Goes Demand for Electricity. US Power Generation by Source in 2025: Natural Gas, Coal, Nuclear, Wind, Hydro, Solar, Biomass, Geothermal, Petroleum by Wolf Richter • Feb 24, 2026 • 96 Comments Amid a struggle to power AI data centers.
Biggest Single-Family Rental Landlords, Mom & Pop Landlords, and Trump’s Push to Block Big Guys from Buying More Homes by Wolf Richter • Feb 23, 2026 • 95 Comments It might not make much difference now, but it would during a housing crash.
US Treasury Debt-to-GDP Ratio Rises to 122% in Q4, Highest since Covid Spike by Wolf Richter • Feb 21, 2026 • 171 Comments The ugly debt monster grew faster than current-dollar GDP.
PCE Inflation (2.9%, 3.0%) and GDP Inflation (3.7%) Got Hotter, but CPI Inflation (2.4%) Cooled. Why? The Fed Needs to Pay Serious Attention by Wolf Richter • Feb 21, 2026 • 51 Comments The PCE price index gets pushed down far less by the doctored housing index than CPI does because housing weighs half as much in PCE.
Hot Inflation & Plunge in Federal Government Spending Slam Real GDP. But Trade Deficit Least Bad in 2 Years by Wolf Richter • Feb 20, 2026 • 28 Comments Domestic private demand, without government and trade, rose by 2.4% adjusted for inflation.
Supreme Court Strikes Down IEEPA-Based Tariffs, Doesn’t Rule on Refunds (“Likely to be a ‘Mess’”) by Wolf Richter • Feb 20, 2026 • 83 Comments Markets not surprised. 10-year Treasury yield rises modestly.
Pending Home Sales Drop to Record Low in the Data, from Already Low Levels, on Big Drops in the South & Midwest by Wolf Richter • Feb 19, 2026 • 83 Comments “Improving affordability conditions have yet to induce more buying activity”: National Association of Realtors.
Single-Family & Multifamily Construction: Bring on the Supply just as Population Growth Slows to a Crawl by Wolf Richter • Feb 18, 2026 • 53 Comments This is precisely what this overpriced and frozen housing market needs.
Orders for Durable Goods at US Manufacturers Jump 7.8% in 2025 to Record on AI Infrastructure & Civilian Aircraft by Wolf Richter • Feb 18, 2026 • 22 Comments Machinery, fabricated metals, electrical equipment, motor vehicles, and nondefense aircraft all hit records.
