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Fiscal 2020 started just like fiscal 2019 ended - with a massive federal budget deficit. And that has Federal Reserve Chairman Jerome Powell worried. In an ironic bit of political theater, Powell lectured Congress about the spending he helps facilitate.The budget shortfall last month was 34% higher than the October 2018 deficit, coming in at $134.5 billion, according to the latest Treasury Department report. That starts fiscal 2020 off on track to eclipse a $1 trillion deficit.
How does every bear market begin? Slowly at first, then all of a sudden.
Initial jobless claims rose 14,000 to a seasonally adjusted 225,000 in the seven days ended Nov. 9, the government said Thursday. That’s the highest level since late June.
Once again, Trump's tariffs have done nothing to drive prices higher as every establishment economist decried.
Federal Reserve chair Jerome Powell testified before the Joint Economic committee. Jamie Herra Beutler (R-Ark.) questions.
Ratings agency Moody's has issued a debt downgrade warning to the entire world on fears that political turmoil from Westminster to Hong Kong poses a threat to the economy.
The metals market is an extremely emotional one, and it looks like we're approaching another extreme...
Stocks struggled to levitate in a session that saw Germany narrowly avoid a recession, even as confusion over the fate of the US-China trade deal grew as did violence in Hong Kong
That matches the biggest decline in the New York-Newark-Jersey City area in five years. In the Boston region, rents declined 0.2% from the prior month.
Low interest rates have induced Americans to pick up their borrowing to a record...
The Holy Cow Moment for Subprime Auto Loans; Serious Delinquencies Blow OutNov 14, 2019 - 04:42:54 PST
But it’s Even Worse Than it Looks. And this time, there is no jobs crisis. This time, it’s the result of greed by subprime lenders.
Traders concerned increasing violent protests could eventually lead to capital flight.
Gold rose on Thursday, extending gains to
a third session, as weak Chinese data and doubts about whether
Beijing and Washington will reach a trade deal anytime soon
dented demand for riskier assets.
In Swaps We Trust? Disappearing Dollars Drive Currency Trading DependenceNov 14, 2019 - 04:11:14 PST
As dollars dry up, global finance is growing increasingly dependent on opaque cu...
And just like that, those worries about a U.S. recession that gripped Wall Street over the summer have all but vanished.
And its workers will likely bear the brunt of the next downturn...
"The disclosure of details of loans made under discount window programs are published on an approximately two-year lag."
Clarita: Lowering Inflation Created New Challenges for Central Banks: WSJNov 14, 2019 - 03:42:48 PST
The success of the Fed & other central banks in reducing inflation & holding it at low levels has limited the scope for monetary policy to combat future downturns, a top Fed official said in a prepared speech Tuesday.
Fed Chair Jerome Powell: “We’re looking hard at ways to make sure that we can use our tools even after rates go to zero.
The Fed won’t be able to fight the next recession all by itself — it’s going to need help from Congress.Powell is undoubtedly correct that fiscal policy...