Accelerating Inflation without Economic Growth: Bank of Canada Holds Rate at 5.0%, with Bias to Tighten Further. QT Continues by Wolf Richter • Sep 6, 2023 • 94 Comments The BoC already shed 50% of its QE assets, and the shedding continues.
Gasoline Prices Rise Year-over-Year for First Time since Feb 2022: CPI Inflation to Feel the Heat this Year by Wolf Richter • Sep 5, 2023 • 109 Comments “Disinflation” already ended.
Crude Oil WTI Jumps to Highest since November, as SPR Gets Refilled, Saudi Arabia & Russia Extend Production Cuts by Wolf Richter • Sep 5, 2023 • 113 Comments “Disinflation” honeymoon was nice, thank you, but it’s over.
Construction Spending for Factories Soars, after Decades in the Doldrums by Wolf Richter • Sep 3, 2023 • 131 Comments Driven by manufacturing plants for technologically advanced, high-value products. Automation is the great equalizer.
How Have Mortgage Rates Hit Home Sales & Inventory? Where Will Inflation & Long-Term Rates Go? Have Credit Cards Propped up Consumers Spending? by Wolf Richter • Sep 3, 2023 • 65 Comments Wolf Richter on HoweStreet.com Radio
Labor Force Spikes, Wage Pressures Stuck at High Levels, Job Market Sorts Out the Distortions from the Pandemic by Wolf Richter • Sep 1, 2023 • 88 Comments With the labor force surging, did they all get jobs? No. But many did.
Our Drunken Sailors Are Drinking Directly from the Punch Bowl: Powell, Did You See That? by Wolf Richter • Aug 31, 2023 • 253 Comments But they’re earning more than they’re spending, and despite spending like drunken sailors, they’re saving a lot.
“Core Services” Inflation Jumps to 2nd Worst since 1985, “Non-Housing Services” Are Red Hot. Fed’s Job Far from Done by Wolf Richter • Aug 31, 2023 • 172 Comments Durable goods prices fall. Fed favored “core” PCE price index re-accelerates.
Curse of Easy Money: US Government Interest Payments v. Tax Receipts, Average Interest on Treasury Debt, & Debt to GDP by Wolf Richter • Aug 30, 2023 • 119 Comments Spiking Interest payments will hopefully, knock on wood, force the drunken sailors in Washington to go through detox.
After some Wavering, Corporate Bond Market Adjusts to Tightest Monetary Policies in Decades and Returns to La-La-Land by Wolf Richter • Aug 30, 2023 • 67 Comments Record QT and big Rate Hikes no problem: Corporate Bond Market Distress Index drops to lowest level since before the Fed started tightening.
