Wolf Richter

Despite Losses since September, the Fed Still Made a Profit for the Whole Year 2022, Remitted $76 billion to US Treasury Dept.

by Wolf Richter • Jan 13, 2023 • 91 Comments

But for Treasury, the gravy train has ended: Fed released preliminary info on interest income, interest expense, other expenses, profit, and dividends.

Bank of England Sold All Bonds it Bought Last Fall amid Pension Crisis, First Big Central Bank to Sell Government Bonds Outright

by Wolf Richter • Jan 12, 2023 • 110 Comments

At first in baby steps, and then in big chunks. Remember the “pivot to QE” mongers at the time? What a hoot.

Services Inflation Spikes to 4-Decade High. CPI for Gasoline & Durable Goods Plunge

by Wolf Richter • Jan 12, 2023 • 213 Comments

Services are nearly two-thirds of consumer spending. That’s where inflation is now raging. The Fed has been talking about services for months.

Dip in Mortgage Rates Not Slowing Housing Bust 2: Mortgage Lenders Sing the Blues

by Wolf Richter • Jan 11, 2023 • 241 Comments

It just keeps getting worse.

Coinbase CEO Still among those “Who Believe in Crypto,” the Religion, Cuts another 25% of Real-World Staff, Sees another Huge Loss

by Wolf Richter • Jan 10, 2023 • 118 Comments

It has $3.6 billion in real-world debt. The bonds crashed, the stock imploded, reality keeps biting the crypto world.

Are Tech Layoffs in San Francisco and Silicon Valley the Latest Hit to Bay Area Rapid Transit (BART)?

by Wolf Richter • Jan 9, 2023 • 100 Comments

BART was already “facing a fiscal cliff” after working from home and driving to work caused revenues to collapse.

Wild Ride of US Auto Sales in 2022 below 1977. Charts for GM, Toyota, Ford, Stellantis, Hyundai-Kia, Honda, and Nissan oh Dear

by Wolf Richter • Jan 8, 2023 • 201 Comments

Who got chips and who didn’t: Hyundai-Kia sales near all-time high in 2022, Honda’s sales collapsed.

Euro Inflation without Energy Hits Record, Services CPI Hits Record. Subsidies, Drop in Energy Push Down Overall CPI

by Wolf Richter • Jan 6, 2023 • 81 Comments

The ECB reacts to raging inflation, unloads a massive chunk of assets, hikes rates.

My Thoughts about Wages: What Changed?

by Wolf Richter • Jan 6, 2023 • 105 Comments

Are we seeing the psychological effects of layoff-stories everywhere that replaced labor-shortage-stories, though the labor market overall hasn’t changed much?

Fed’s Balance Sheet Drops by $458 Billion from Peak: January Update on QT and the Fed’s Losses

by Wolf Richter • Jan 5, 2023 • 134 Comments

The Fed’s cumulative losses reached $20.5 billion.

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