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With Fed speakers and their media proxies scrambling to walk-back St.Louis Fed's Jim Bullard's calls for an inter-meeting liftoff and uber-hawkish rate-hike trajectory, it is notable that all of a sudden, The Fed has called for an "Expedited, Closed" Board Meeting on Monday Feb 14th (at 1130amET).
Biden Warns Of "World War" While UK's Truss Says Rostov And Voronezh Are Not RussianFeb 11, 2022 - 08:32:48 PST
“It’s not like we’re dealing with a terrorist organization. We’re dealing with one of the largest armies in the world. It’s a very different situation, and things could go crazy quickly.”
Feb 11, 2022 - 08:24:03 PST
“This is a surveillance tool and it’s disguised as a payment mechanism. It’s going to allow the People’s Bank of China (PBOC), their central bank to look into, peer into everyone’s purchasing history,” said Erik Bethel, who once served as the U.S. representative to the World Bank.
Two U.S. senators said the Central Intelligence Agency has been secretly collecting “bulk” information on American citizens without congressional oversight.
'Homelessness Is Lethal': US Deaths Among Those Without Housing Are SurgingFeb 11, 2022 - 07:53:23 PST
The number of Americans dying while homeless has surged dramatically in the past five years, an exclusive analysis by the Guardian in conjunction with an academic expert at the University of Washington has shown.
Feb 11, 2022 - 07:48:38 PST
Nearly every Los Angeles resident encounters homelessness on a day-to-day basis. Encampments line neighborhoods, parks, and outside of businesses. The fire department said 54 percent of fires reported in Los Angeles were started in homeless encampments last summer. And residents are fed up, according to a new survey.
Shoplifting has gotten so bad nationally that chains like Rite Aid are closing hard-hit stores, sending terrified employees home in Ubers and locking up aisles of seemingly mundane items like deodorant and toothpaste.
The analysis contrasted data from the US Census Bureau, along with commercial datasets released this week by U-Haul and United Van Lines.
The federal government collected a record $1,516,952,000,000 in total taxes through the first four months of fiscal 2022 (October through January), according to the Monthly Treasury Statement released today.
A nation exhausted by a two-year pandemic, struggling against rising food and gas prices, driven to distraction by school closures and torn apart by a political schism that erupted into violence is far from at ease with itself.
UMich Consumer Sentiment Unexpectedly Crashes To 11-Year Lows, Democrat Confidence DumpsFeb 11, 2022 - 07:25:36 PST
Bad financial times over the next five years were anticipated by nearly two-thirds of all consumers, representing the weakest long-term outlook in the past decade, according to the university’s report.
The US Treasury realized a monthly surplus of $118.7 billion in January. It was the first budget surplus since September 2019 and the largest since it realized a $160 billion surplus in April of 2019.The surplus was driven by high revenue from a continued surge in Individual Taxes. This was combined with shrinking expenditures due to the expiration of the child tax credits that ended on December 31. The surplus for the month also was helped by $70 billion in proceeds from a wireless spectrum auction.
Feb 11, 2022 - 07:19:13 PST
Well, it has been a cringe-worthy year+ under President Biden. West Texas Intermediate Crude futures price is up 91% and the Commodity Research Bureau Foodstuffs index is up 47%. Talk about Biden’s energy folicies being passed through to American households in the form of higher food costs and energy prices!
Poverty warps the way we see the world: Every broken promise from a politician reinforces the feeling that we live in a system designed to thwart those who most need its help.
Feb 11, 2022 - 07:14:26 PST
The high-octane stimulus-fueled economic rebound combined with the "Great Resignation" labor crunch has forced U.S. employers to lift wages sharply to attract and retain staff, but while January's over-the-year wage gains are impressive in nominal terms, they disappoint in real terms as the red-hot pace of inflation means many American workers got an effective pay cut.
The Federal Reserve still seems to be hoping that inflation will just go away on its own or that it can jawbone it down by projecting a few little rate hikes. But the Consumer Price Index data keeps dashing its hopes. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the January CPI and the Fed's proposed "fight" against inflation. He also discusses the demand forecast for silver this year.
Peter Boockvar, chief investment officer at Bleakley Advisory Group. “I’ll use this as another opportunity to express my bullishness on gold and silver. Strategists are suggesting investments such as euro assets, gold and Asian resource company shares as alternatives.
Those are words usually uttered at the peak of bull markets throughout history for stock market investors. However, this time is likely different when it comes to the Fed and their current view of aggressively tightening monetary policy.
Letting inflation run hotter than planned is a better outcome than crushing economic growth with overly severe interest rate increases. The Fed is in a tight corner: Is it better to aggressively jack up interest rates to lower inflation, even if that risks throwing the economy into recession?
The CPI came in hot, hot, hot for January at 0.6 percent, exceeding expectations. Yet the Fed is still pumping, adding a total of $123 billion into the economy in 2022, which should end soon.