Growth in Jobs Slows to 2017-2019 Pace, Unemployment Rate Rises as Massive Wave of Immigrants Is Absorbed More Slowly by Wolf Richter • Aug 2, 2024 • 131 Comments Wage growth slows to normal-ish rate.
Eyepopping Factory Construction Boom in the US Reaches New Highs amid Big Corporate & Strategic Rethink by Wolf Richter • Aug 1, 2024 • 70 Comments One of the big changes that came out of the chaos of the pandemic. And robots cost nearly the same anywhere.
How Powell Kept a September Rate Cut up in the Air: It Will All Depend on the Data till Then by Wolf Richter • Jul 31, 2024 • 93 Comments “We’re balancing the risk of going too soon versus too late. There’s no guarantee in this. It’s a very difficult judgment call.”
Fed Statement Silent about September Rate Cut, Still Waiting for “Greater Confidence” about Inflation, Keeps Rates Unchanged by Wolf Richter • Jul 31, 2024 • 115 Comments Powell has some explaining to do. Only slight concessions about strength of the labor market and improvements in inflation.
Bank of Japan Hikes by 25 Basis Points and Starts QT: Too Little Too Late but in Right Direction to Prop Up the Plunging Yen by Wolf Richter • Jul 31, 2024 • 26 Comments The “real” policy rate is massively negative, with the new policy rate of 0.25% far below Core CPI of 2.6%.
Magnificent 7 Down by $2.09 Trillion from Peak, then Microsoft Comes Out and Makes Further Mess Afterhours by Wolf Richter • Jul 30, 2024 • 86 Comments Nvidia -7% today, -23% since July 10. But afterhours, it rose when Microsoft outlined what it’s spending on AI infrastructure.
The Most Splendid Housing Bubbles in America, July 2024 Update. Below 2022 Peak: San Francisco, Seattle, Phoenix, Portland, Denver, Dallas, Las Vegas. New Highs: Miami, Los Angeles, San Diego… by Wolf Richter • Jul 30, 2024 • 103 Comments New Highs: Boston, New York, Miami, Tampa, Los Angeles, San Diego, Washington DC, and Chicago.
Without Share Buybacks, Subprime-Focused Retailer-Lender Conn’s Wouldn’t Have Had to File for Bankruptcy by Wolf Richter • Jul 29, 2024 • 70 Comments A basket case for years. Acquiring W.S. Badcock was another great idea; 7 months later, both are bankrupt and liquidating.
US National Debt Hits $35 Trillion. Debt-to-GDP Ratio, at Scary Levels, Dips a Tad. And T-Bills’ Share of this Debt by Wolf Richter • Jul 27, 2024 • 171 Comments We don’t even want to know what debt-to-GDP looks like in the next recession when it’ll get hit by a double-whammy.
Large Upward Revisions of “Core Services” PCE Inflation Pushed Six-Month “Core” PCE Inflation to 3.4%, Worst in a Year by Wolf Richter • Jul 26, 2024 • 142 Comments Fed’s Wait-and-See on rate cuts makes sense amid heavily revised whiplashy data and still too high inflation.
