Eyepopping Factory Construction Boom in the US: Chip Makers on Forefront, but CHIPS Act Funds Not Even Released Yet by Wolf Richter • Feb 3, 2024 • 83 Comments Supply-chain chaos, edgy US-China relations, and scary dependence on China triggered a rethink, now showing up as investments in manufacturing plants.
Great to Have a Good Job Market with Surging Wages, but Rate-Cut Mania Takes a Hit. And We Fret about Inflation Reheating by Wolf Richter • Feb 2, 2024 • 163 Comments It’s not just the top 10% or whatever who got the wage increases.
Fed Balance Sheet QT: -$1.34 Trillion from Peak, to $7.63 Trillion, Lowest since March 2021 by Wolf Richter • Feb 1, 2024 • 94 Comments The Fed shed 33% of the Treasury securities it had added during pandemic QE and 24% of the MBS.
Despite Alphabet’s Layoffs at Google, Headcount Increased for Second Quarter in a Row. But the Huge Hiring Binge Is Over by Wolf Richter • Feb 1, 2024 • 47 Comments As Powell said, the labor market is rebalancing; it’s still tight, but it’s not out of whack anymore.
Here’s my Powell Cocktail, Not Quite in his Own Words by Wolf Richter • Jan 31, 2024 • 147 Comments It’s premature to think rate cuts are right around the corner, we haven’t decided anything yet, it’s meeting by meeting, but in March no way Jose, I mean, that’s not my base case.
Wow, Fed’s Statement Pushes Back against Rate-Cut Mania and End-of-QT Mania. Holds Rates at 5.50% Top of Range, QT to Continue as Planned by Wolf Richter • Jan 31, 2024 • 134 Comments Ok, so that push-back in the statement was unexpected.
The Most Splendid Housing Bubbles in America, January 2024 Update. Biggest Price Drops from 2022 Peak: San Francisco, Seattle, Portland, Denver, Las Vegas, even San Diego by Wolf Richter • Jan 30, 2024 • 150 Comments The 20-City Index dips off a beautiful double-top. Some metros saw new highs.
Tesla Closes in on Toyota in California: The Battle for #1. Total EV Sales +46% in 2023, EV Share Hits 21% by Wolf Richter • Jan 30, 2024 • 151 Comments Tesla +24.6%, Toyota +2%. Model Y +52%, #1 bestseller by far; Model 3 is #2 bestseller. Toyota loses it, Camry sales -16%, RAV4 +1%.
Treasury Department Trying Very Hard to Push Down Yields with its Quarterly Refunding Announcements. So We Take a Look by Wolf Richter • Jan 29, 2024 • 118 Comments Here come the “Marketable Borrowing Estimates,” showing by how much the pile of outstanding marketable Treasury securities will increase.
US Debt-to-GDP Ratio Worsens Further, Despite Solid Economic Growth, as Government Debt Balloons at a Scary Pace by Wolf Richter • Jan 27, 2024 • 301 Comments The economy grew solidly. The debt spiked.
