Fed Still Sees 3 Rate Cuts in 2024, But 2-Cut Scenario only 1 Participant Short, Holds Rates at 5.50% Top of Range, QT Continues as Planned by Wolf Richter • Mar 20, 2024 • 208 Comments Raises longer-run rate projection (higher for longer), and projections for inflation and GDP in 2024.
Intel to Get $23 Billion in Government Grants & Loans Plus $25 Billion Investment Tax Credits, to Invest $100 Billion in the US, after Wasting $94 Billion on Share Buybacks in 15 Years by Wolf Richter • Mar 20, 2024 • 91 Comments Sure, good industrial and security policy to put semiconductor production on US soil. But these massive government handouts to the richest companies?
Bank of Japan Keeps Making its Loosest-Ever Monetary Policy Slightly Less Loose in Tiny Steps at Slowest-Ever Snail’s Pace by Wolf Richter • Mar 19, 2024 • 85 Comments Which devalued the yen by a Third-Worldish 30% against the USD in two years as other central banks hiked in big increments and started QT.
The Most Splendid Housing Bubbles in Canada: National House Prices Flat in Feb., -16% from Peak, Condos Drop Further, on Bank of Canada’s 5% & Massive QT by Wolf Richter • Mar 18, 2024 • 65 Comments Toronto condos drop to 28-month low, Vancouver houses -4% from peak in 2022 but condos near high. Calgary houses set new highs.
Brick-and-Mortar Meltdown Fells another Retailer: Joann Inc. Files for Bankruptcy 3 Years after IPO by Wolf Richter • Mar 18, 2024 • 96 Comments The IPO allowed the PE firm that had acquired Joann via an LBO in 2010 to dump the shares into the lap of the public.
Who’s on the Hook for Multifamily CRE Mortgages? #1 Taxpayers, far ahead of #2 Banks by Wolf Richter • Mar 18, 2024 • 94 Comments Another reason why the Fed can let the CRE swoon rip.
Short-Term Treasury Market Walks Away from Rate-Cut Mania, Inflation Has Upper Hand by Wolf Richter • Mar 15, 2024 • 231 Comments One-year yield rose to 5.05% today, highest since December 12.
What the PPI is Telling us: Disinflation in “Core Goods,” a Hefty Counterweight to Hot Services Inflation, May be Over by Wolf Richter • Mar 14, 2024 • 186 Comments And that’s very disconcerting.
Higher Forever? Even Yellen Starts to Get it: Higher Inflation & Higher Yields Are Here to Stay by Wolf Richter • Mar 13, 2024 • 201 Comments “It seems unlikely that yields are going to go back to being as low as they were before the pandemic”: Yellen.
Why I Started a Finance Website and other Stuff about Banks, Bailouts, the Fed, and Being Pissed Off by Wolf Richter • Mar 13, 2024 • 50 Comments Wolf Richter with Nick Halaris.