The Jobs Report in Light of what Powell Said: The Fed Cannot Create Supply of Labor, But it Can Slow the Demand for Labor by Wolf Richter • Dec 2, 2022 • 221 Comments Higher interest rates, for longer.
Fed’s Balance Sheet Drops by $381 Billion from Peak: December Update on QT by Wolf Richter • Dec 1, 2022 • 133 Comments Keeping an eye on stuff, including dollar liquidity swaps and Primary Credit.
In No Mood for Soft Landing, Americans Keep Splurging, Outspend Inflation, No Problem by Wolf Richter • Dec 1, 2022 • 162 Comments With this kind of demand, it’s hard to imagine that inflation will just vanish.
“Core Services” Inflation Gets Worse, “Core Goods” Inflation Backs Off: Yardstick for Fed’s Inflation Target, Core PCE, Nails What Powell Said Yesterday by Wolf Richter • Dec 1, 2022 • 124 Comments Inflation moving “sideways” at very high levels for nearly a year and hasn’t come down meaningfully, Powell said yesterday, and as we see today.
These Crazy Rallies on Hawkish Fed Plans Are Good Because Crashing Stocks & Seizing Credit Markets Would Cause the Fed to Wobble in its Inflation Crackdown by Wolf Richter • Nov 30, 2022 • 138 Comments There was a time when markets tried to force the Fed’s hand by crashing.
Layoffs, Quits, Job Openings, Hires, Wages: No “Landing” Yet for Job Market, Eager Employers Quickly Hire Laid-off Workers by Wolf Richter • Nov 30, 2022 • 50 Comments Workers still leveraging this historically tight labor market, but a little more cautiously?
Euro Inflation without Energy Rages to New Record. Overall CPI Second Worst Ever by Wolf Richter • Nov 30, 2022 • 133 Comments The ECB’s horror show.
The Most Splendid Housing Bubbles in America, November Update: Deflating Everywhere, Fastest in San Francisco & Seattle. Phoenix & Dallas Roll Over Too by Wolf Richter • Nov 29, 2022 • 217 Comments In several markets, prices plunged even faster than they’d spiked.
BlockFi, 8 Subsidiaries File for Bankruptcy: Smooth & Efficient Crypto Contagion Continues by Wolf Richter • Nov 28, 2022 • 167 Comments The price of consensual hallucination. Filing also lists $30 million SEC settlement, and huge amounts owed to unnamed “clients.”
The Fed’s Liabilities under QT: November Update by Wolf Richter • Nov 27, 2022 • 105 Comments Total liabilities dropped by $344 billion since QT began. Big shifts between liabilities: reserves already plunged by $1.12 trillion.
