Inflation Re-Accelerates Despite Plunging Gasoline Prices as “Core Services” PCE Price Index Hits 7-Month High by Wolf Richter • Nov 27, 2024 • 148 Comments Core services inflation is the biggie, and it’s going the wrong way. The Fed is already talking down the pace of rate cuts.
Inventory of New Single-Family Houses Jumps to Highest since 2007. Unsold Spec Houses Jump to Highest since 2009 as Sales Suddenly Plunge by Wolf Richter • Nov 26, 2024 • 136 Comments Bring on the supply. Homebuilders may need to do some serious price cutting to move their inventory.
Americans Buy Ever Bigger, More Powerful, More Fuel-Efficient Trucks, SUVs & Cars. EVs Escalate the Horsepower War by Wolf Richter • Nov 25, 2024 • 83 Comments “The roughly linear increase in specific power” of ICE vehicles over the past 50 years “does not appear to be slowing”: EPA.
Operating Losses and “Unrealized” Losses of the Federal Reserve in Q3 2024 by Wolf Richter • Nov 23, 2024 • 86 Comments QE was a huge gravy train for taxpayers. But then came the hangover.
US National Debt Goes Over $36 Trillion, +$2 Trillion in 2024!! 🥂🍾 by Wolf Richter • Nov 22, 2024 • 166 Comments The share of T-bills outstanding, average interest rate paid on the debt, and cash in the Government Checking Account (TGA).
US Dollar Crushes Euro, Yen, Canadian Dollar, other Currencies as Fed Backpedals on Pace of Rate Cuts by Wolf Richter • Nov 22, 2024 • 64 Comments Amid renewed inflation worries and above-average economic growth.
Demand Destruction for Existing Homes: Sales in 2024 Track Lowest since 1995 amid Highest Supply for October in 6 Years by Wolf Richter • Nov 21, 2024 • 132 Comments Too-high home prices cause demand destruction on an epic scale. Buyers’ strike continues in November and December.
ECB’s Own Measure of Wage Increases Blows Fuse, Sets Off Alarms about Stubbornly Hot Services Inflation by Wolf Richter • Nov 20, 2024 • 57 Comments Meanwhile, the ECB’s QT marches on, balance sheet has shed €2.45 trillion since the peak, or 59% of its pandemic QE.
Credit Card Delinquency Rates, Balances, Burden, and Available Credit in Q3 2024 by Wolf Richter • Nov 19, 2024 • 83 Comments Americans far from “tapped out.” Credit card delinquency rate dips to 3.2% (Fed), “prime” delinquency rate 0.99% (Fitch), “subprime” gets over free-money hangover.
US Treasury Debt Held by Foreign Investors: Ravenous Appetite for Juicy Yields, Juicy Compared to their Stuff at Home by Wolf Richter • Nov 18, 2024 • 79 Comments Will foreign investors buy the Recklessly Ballooning US Debt? Increasingly crucial question. But yield solves demand problems.
