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Watch: President Biden Explain (Again) That The US Economy Is Not In Recession, 'No Way Man!'Jul 28, 2022 - 11:55:57 PDT
President Biden, having already explained that the US economy is not in recession, will reiterate that the US economy is not in recession during a roundtable with a number of the nation's CEOs.
Watch: Treasury Secretary Janet Yellen Explain How We're Absolutely, Definitely, No Way In 'Recession'Jul 28, 2022 - 11:53:36 PDT
Will they be proved wrong again?
If you ever want to peer into the future, look at the names of the bills passed by Congress, and then assume the opposite results for their intended goals. The "Inflation Reduction Act" will be yet another example. You can expect much more inflation if such an act is ever implemented.
Is The Top In?: The Strong Dollar Is Wreaking Havoc Globally — And It’s Just Getting StartedJul 28, 2022 - 08:59:18 PDT
Some of the top dollar gauges reveal its capacity to rise further. While the Bloomberg Dollar Spot Index hit a record this month, it is only measured from the end of 2004. The narrower ICE US Dollar Index — its performance against developed peers — is still well below levels seen in the 1980s. It would take a 54% rally to get it back to its peak in 1985, the year of the Plaza Accord.
Jul 28, 2022 - 08:56:12 PDT
The dollar has rallied dramatically in 2022, piling pressure on countries that need to pay their debts or import bills using the greenback.
Jul 28, 2022 - 08:43:30 PDT
The window of opportunity to avert a war between the US and China over Taiwan island is closing. While there is still time, it is critical for Americans to understand the cost and futility of the US China containment strategy. This could enable citizens to push back on the irresponsible war mongering of political and defense industry elites.
U.S. Carrier Strike Group Returns to South China Sea Amid Taiwan TensionsJul 28, 2022 - 08:35:18 PDT
A U.S. aircraft carrier and its strike group have returned to the South China Sea after a port call in Singapore, deploying in the disputed region as tensions with China rise over a possible visit to Taiwan by congressional leader Nancy Pelosi. Officials with the U.S. Navy's Seventh Fleet confirmed the deployment of the USS Ronald Reagan to the vital trade route but did not comment on questions about tensions over the trip by Pelosi, speaker of the U.S. House of Representatives.
Pelosi 'Appears To Have Taken Advantage' Of Inside Information: Former Dallas Fed Chief FisherJul 28, 2022 - 07:56:02 PDT
On Thursday, former Dallas fed president Richard Fisher slammed House Speaker Nancy Pelosi and her husband Paul over allegations of insider trading.
Elizabeth Warren Warns the US Will Suffer a Devastating Recession if the Fed Doesn’t Ease Rate HikesJul 28, 2022 - 07:51:48 PDT
The fast pace of big rate hikes could "pitch this economy into a recession," Warren told CNBC on Wednesday before the Fed raised rates again.
The U.S. government bond market is sending a fresh batch of signals that investors are increasingly convinced the Federal Reserve's aggressive actions to tame inflation will result in recession.
The Fed Just Got Rid of Forward Guidance Because It's Making It Up as It GoesJul 28, 2022 - 07:20:42 PDT
Ultimately, it's all just more tinkering, and what the Fed should be doing is stepping way back from monetary policy. It should stop "setting" the interest rate altogether. The Fed should cease open market operations, allowing the marketplace to discover what the real market interest rates actually are. That, unfortunately, is not on the Fed's list of options.
Gold, Silver Stage Biggest One Day Rally in Months Due to Fed-Inspired ‘Short Squeeze’Jul 28, 2022 - 06:02:40 PDT
Gold and silver rise sharply on Thursday, with gold on track for its biggest one-day gain since mid-June and silver headed for its best day since March 1.
Dollar Hits Three-Week Low to Yen As Fed’s Powell Less Hawkish Than FearedJul 28, 2022 - 05:57:05 PDT
The dollar dropped to a three-week low versus the yen on Thursday after Federal Reserve Chair Jerome Powell assuaged investors' worries about continued aggressive monetary tightening. The U.S. currency sank as low as 135.105 yen, its weakest since July 6 after the Fed raised the benchmark rate by an as-expected 75 basis points to bring it closer to neutral, while noting that,,,
Starting in May, retail sales floundered and housing fell though the floor. The RFS component of GDP fell from 3.7 percent to 1.1 percent. That means -2.6 percent on RFS in May and June. That's a pretty steep contraction. Strength in April negates a recession starting in the first quarter regardless of two quarters of negative GDP.
Welcome To The Biden Recession: Q2 GDP "Unexpectedly" Shrinks 0.9%, 2nd Consecutive DeclineJul 28, 2022 - 05:51:42 PDT
The Biden economy is now in a technical recession: the first estimate of Q2 GDP came in at -0.9%, far below the 0.5% consensus forecast (but right on top of the Atlanta Fed -1.2% tracker), and while an improvement from Q1's -1.6%, this was still the second consecutive quarter of declining GDP which as far as the markets are concerned at least, is the definition of a recession.
While we keep being told that the labor market is 'too strong to be in recession', anyone who cares to look at the higher frequency data will see that narrative coll;apsing fast as initial jobless claims rose to 256k last week (worse than the 250k expected)...
Manchin And Dems Reach Deal On Reconciliation Package, Call It "Inflation Reduction Act"Jul 28, 2022 - 05:38:48 PDT
Sen. Joe Manchin (D-WV) on Wednesday announced that he's reached a deal with Sen. Chuck Schumer (D-NY) to advance legislation aimed at combating inflation by lowering healthcare costs and paying down the national debt.
The bank’s laser focus on fighting inflation will come at the cost of economic growth, which will force the 19 countries in the currency area to step up fiscal consolidation efforts.
The EU Commission's measure of consumer sentiment has plunged to all-time lows, leading economists to warn the area is now entering recession.
One of the Treasury market’s more widely watched yield-curve indicators extended its inversion after the Federal Reserve’s decision to lift its benchmark rate in line with expectations.