In “Information” Sector, Unemployment Rate Spikes, Jobs Fall for 2nd Month. Rest of Labor Market is Rocking & Rolling. by Wolf Richter • Feb 3, 2023 • 62 Comments Plenty of fuel for inflation. Powell is not going to like this.
Fed’s Balance Sheet Drops by $532 Billion from Peak, Cumulative Loss Reaches $27 billion: February Update on QT by Wolf Richter • Feb 2, 2023 • 140 Comments QT is starting to make a visible dent.
What is the Actual Housing Vacancy Rate, Reported by the Census Bureau? No, not 0.8% and not 5.8% by Wolf Richter • Feb 2, 2023 • 75 Comments A deep dive into the gritty data and formulas that produce these vacancy rates by the Census Bureau.
What Powell Actually Said by Wolf Richter • Feb 1, 2023 • 290 Comments “The historical record cautions strongly against prematurely loosening policy. We will stay the course until the job is done,” but it’s not done, Powell said: Core services inflation ex-housing has not come down.
Job Openings Collapse in “Information” Sector Most since Dotcom Bust, But Jump in Vast Other Sectors, amid Overall Low Layoffs & Discharges, Strong Hiring, Still Massive Churn by Wolf Richter • Feb 1, 2023 • 132 Comments In tech & social media, the labor market got shot. In the rest of the economy, it remains very tight.
The Most Splendid Housing Bubbles in America, January Update: Now Phoenix, Las Vegas, San Francisco, Seattle, San Diego Plunge Fastest by Wolf Richter • Jan 31, 2023 • 240 Comments This takes some doing: San Francisco Bay Area house prices plunged faster from the peak than they’d spiked to the peak.
EV Competition Finally Produces Results: Ford Cuts Prices on Mustang Mach-E, after Tesla, Kia, Hyundai, Chevrolet, Nissan Cut Prices on their EVs by Wolf Richter • Jan 30, 2023 • 93 Comments EVs now start at $27,000, about $20,000 below the average new-vehicle transaction price. That’s a good thing all around. Except for stock prices.
Back-to-Back Market Smackdowns Coming from the Fed and ECB. Could Be a Hoot by Wolf Richter • Jan 28, 2023 • 258 Comments Surly frustrated central bankers telling euphoric markets that the inflation fight is far from over.
Consumer Spending on Services Keeps up with Raging Inflation in Services. Spending on Goods Falls as Prices Drop, Demand Fizzles after Pandemic Binge by Wolf Richter • Jan 27, 2023 • 88 Comments Raging inflation is a tough nut to crack for income.
Services PCE Price Index Spikes, But Goods PCE Price Index Falls as Energy Prices Plunge: Core PCE Re-accelerates by Wolf Richter • Jan 27, 2023 • 80 Comments Services inflation is tough to stamp out, and it has taken over inflation. Powell will be talking about it.
