Our Drunken Sailors Go Splurging Online, at Auto Dealers, and Massively at Bars & Restaurants (YOLO) by Wolf Richter • Dec 14, 2023 • 133 Comments The three account for 50% of retail sales. People blowing their disposable income that outran inflation by a wide margin this year.
What Powell Said About Continuing QT amid Rate Cuts, RRPs Going to Zero, Reserves Dropping to Magic Line in the Sand by Wolf Richter • Dec 13, 2023 • 237 Comments How far can QT go? Quite a bit further.
Fed Holds Rates at 5.50% Top of Range, Sees Three Rate Cuts in 2024, QT to Continue by Wolf Richter • Dec 13, 2023 • 314 Comments Lowers GDP growth projections and PCE inflation projections for 2024.
Beneath the Skin of CPI Inflation, November: Core Services Inflation Accelerates on Rents, Insurance, Healthcare by Wolf Richter • Dec 12, 2023 • 150 Comments But gasoline plunged and durable goods dropped. Food rose further from already painfully high levels.
It’s Like Ford, GM, FCA Got Run Over by a Tesla on Autopilot by Wolf Richter • Dec 12, 2023 • 286 Comments The infinite wisdom of the US legacy automakers never ceases to astound.
PE Firms & Distressed Debt Funds to Get Mall Landlord PREIT in Prepackaged Bankruptcy Filing #2 by Wolf Richter • Dec 11, 2023 • 53 Comments Now they get to deal with the brick-and-mortar meltdown.
Which Industries Gained Jobs, Which Lost Jobs: Longer-Term Employment Trends in Charts by Wolf Richter • Dec 10, 2023 • 83 Comments New all-time highs: Construction, Wholesale trade, Arts & Entertainment, and State government.
The Question is Not “When” but “Why” the Fed Would Cut Rates with a Labor Market this Strong and Wage Growth Accelerating by Wolf Richter • Dec 8, 2023 • 276 Comments The amazing labor market that just keeps plugging along despite the high interest rates.
Wage Growth Not Cooperating with Rosy Scenario of a Normalizing Labor Market by Wolf Richter • Dec 8, 2023 • 63 Comments Wages of production and non-supervisory employees accelerate for third month to 5% annualized. Turns out, the big drop in August was a head fake.
Fed Balance Sheet QT: -$1.23 Trillion from Peak, -$129 billion in November, to $7.74 Trillion, Lowest since April 2021 by Wolf Richter • Dec 7, 2023 • 129 Comments The Fed has now shed 29% of Treasuries it had added during pandemic QE.
