Commentary There was much rejoicing last week as June’s headline CPI (Consumer Price Index) came in at 3 percent, the lowest level of overall price level growth since March 2021. Financial media declared that the United States has entered “disinflation mode” and that the season of post-pandemic inflation was nearing an end. The previously scorned…
Is Inflation Over? Ask Your Pocketbook
July 17, 2023
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EPA Proposals Could Lead to Multibillion-Dollar Economic Losses for US: Study
The U.S. Environmental Protection Agency’s (EPA) proposed regulations on air quality could end up costing the American economy billions of dollars and hundreds of thousands of jobs, said a report prepared by Oxford Economics for the National Association of Manufacturers (NAM). In January, the EPA proposed new standards seeking to lower fine particulate matter known…
A Boom in US Manufacturing?
Commentary As American firms rethink their sourcing in China, some, it seems, have decided to bring their operations home. In 2022 and so far this year, investment in domestic U.S. manufacturing has risen smartly. Some of this spending aims to take advantage of federal largess, subsidies, and tax advantages for domestic chip making, electric vehicles…
Don’t Confuse Cycle With Trend
April 20, 2023
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Commentary Since the fadeout of the first round of the banking crisis, the market has calmed down as if nothing had happened. Recession probability edged up, but most believe advanced economies would be in more trouble than emerging economies. This has also been the standard tone of international organizations like the International Monetary Fund (IMF)….
US Annual Inflation Rate Slows to Lowest Level Since May 2021
The U.S. annual inflation rate eased to 5.0 percent in March, down from 6.0 percent in February, according to the Bureau of Labor Statistics (BLS). This came in below economists’ expectations of 5.2 percent. On a month-over-month basis, the Consumer Price Index (CPI) rose 0.1 percent, down from 0.4 percent. The core inflation rate, which…
Bank Failures and Recession Ahead
Commentary While the market was surprised by the stronger-than-expected U.S. economic data like jobs, the Purchasing Managers’ Index (PMI), and CPI, a run on the Silicon Valley Bank occurred resulted in its collapse. Ironically, some analysts were recommending banking stocks based on their interest rate hike argument. It turns out that the prices of these…
Congress Hits the Road to Listen to Americans’ Concerns
March 7, 2023
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YUKON, Okla.—Finding dependable workers, dealing with a disrupted supply chain, and coping with inflation are some of the biggest challenges in today’s economy, said witnesses in a hearing before the House Ways and Means Committee in this central Oklahoma city of 22,000. According to a press release, the March 7 “Hearing on the State of…
US Venture Capital Investment Drops 65 Percent in 2022, Lowest Level Since 2013
Commentary Venture capital investment is down in the United States. The fundraising environment has become not only tougher for people in venture capital funds but also for entrepreneurs looking to raise capital to build a business. Prequin is a service that tracks all kinds of data in venture capital. According to its numbers, venture capitalists…
Economy Slowing, Debt Rising, CBO Says
A stagnant economy, rising unemployment, higher interest rates, and burgeoning federal debt add up to a problem that must be addressed, according to Phillip Swagel, director of the Congressional Budget Office (CBO). Swagel provided his assessment at the release of two reports, “The Budget and Economic Outlook: 2023 to 2033” and “Federal Debt and the…
Without ‘Seasonal Adjustment,’ US Economy Actually Lost 2.5 Million Jobs, Not Gained 517,000
The U.S. Bureau of Labor Statistics (BLS) reported on Feb. 3 that the U.S. economy added 517,000 new jobs in January, surpassing the upwardly revised figure of 260,000 in December and exceeding economist predictions of 185,000. Without seasonal adjustment, however, the U.S. economy lost over 2.5 million jobs. According to the BLS, seasonal adjustment is…
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