The U.S. annual inflation rate slowed to 4.9 percent in April, down from 5 percent in March, according to the Bureau of Labor Statistics (BLS). This is slightly lower than the consensus estimate of 5 percent. This represented the 10th consecutive monthly drop in the annual inflation rate. The consumer price index (CPI) rose 0.4 percent…
US Annual Inflation Rate Dips Below 5 Percent for First Time in 2 Years
Fed Warns of Credit-Crunch Risk Leading to ‘Marked Slowdown’ in Economic Activity
The recent banking sector turmoil has caused lenders to tighten borrowing standards, squeezing the supply of credit to households and businesses, potentially threatening economic growth, according to a report from the Federal Reserve. The Fed’s quarterly Senior Loan Officer Opinion (SLOOS) survey, released Monday, showed that U.S. credit conditions continued tightening in the first months…
Public Confidence in Fed Chair Jerome Powell Is at Record Low, Gallup Reports
The American people are losing confidence in Federal Reserve Chair Jerome Powell’s leadership as the U.S. economy grapples with crushing inflation and a slowing economic landscape, a new survey revealed. According to new polling data from Gallup, 36 percent of U.S. adults say they have a “great deal” or a “fair amount” of confidence that…
Public Confidence in Fed Chair Jerome Powell Is at Record Low
The American people are losing confidence in Federal Reserve Chair Jerome Powell’s leadership as the U.S. economy grapples with crushing inflation and a slowing economic landscape, a new survey revealed. According to new polling data from Gallup, 36 percent of U.S. adults say they have a “great deal” or a “fair amount” of confidence that…
ANALYSIS: Is the Fed’s Inflation Fight Yielding Results?
All eyes this week will be on the April inflation report. Will it continue its downward trend, or will the consumer price index (CPI) continue to be stubborn and sticky? The Federal Reserve Bank of Cleveland’s Inflation Nowcasting is penciling in an annual inflation rate of 5.2 percent, which would be up from 5 percent…
European Banks Are Not Immune to the Turmoil in US Banking
Commentary Deposits at U.S. commercial banks have fallen to the lowest figure in nearly two years, according to the Federal Reserve. This figure has fallen by $500 billion since the Silicon Valley Bank collapse. However, total banking credit has risen to a new record high of $17 trillion, according to the U.S. central bank. Less…
‘One of the Greatest Decisions in My Life’: Short Seller Closed Fund Before Fed’s Monetary ‘Bazooka’
May 5, 2023
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Ben BernankeBill FleckensteinBusiness & MarketsFederal ReserveInvestmentjerome powellMarketsPaul VolckerUSUS News
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After a decade in the securities business, Bill Fleckenstein began to see the writing on the wall at 2051 Constitution Avenue in the mid-1990s. Around that time, the Marriner S. Eccles Federal Reserve Board Building—at the time occupied by chairman Alan Greenspan—had a stark shift in philosophy and governance style. Once a student of the…
April Jobs Prints at 253,000, but With 149,000 Downward Revisions
May 5, 2023
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Business & MarketsBusiness Columnistseconomic policieseconomyemploymentFederal ReserveGDPrecessionUncategorizedUSUS News
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New jobs created printed at 253,000 on May 5, according to the Establishment Survey, well above market expectations of 180,000 jobs. Net revisions were down 149,000 jobs from February and March. That makes the average three-month creation of 222,000 jobs. The Household Survey, which is compiled from different data, showed 139,000 people were newly employed. Both…
Is the Fed Done Messing Up Everything?
May 4, 2023
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AnalysisBusiness & MarketsBusiness ColumnistsFederal Reserveinflationinterest ratesOpinionrecessionU.S. economy
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Commentary There is a scene in a Fred Astaire and Ginger Rogers film in which the boss of a law firm leaves for vacation and puts his intellectually limited Cousin Egbert in charge. The note adds “don’t do anything.” This is exactly the note that the Fed needs now. Just stop doing things. Its record-breaking…
Commercial Real Estate Could Trigger the Next Big Bank Shock
May 4, 2023
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american banksBusiness & MarketsBusiness Columnistscommercial real estateeconomic policieseconomyFederal ReserveInvestmentOpinionreal estateUSUS Real EstateViewpoints
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Commentary Charlie Munger, believed by some to be the real “brains” behind Berkshire-Hathaway, the multinational investment leviathon helmed by Warren Buffet, recently told The Financial Times, “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there” in real…
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