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They’re still at it! Every month the balance shrinks by many billions of dollars. In conjunction with the support of the mainstream media, the Federal Reserve continues spinning its tale of employment, (price) inflation, and Quantitative Tightening (QT). The current balance sheet level of $8.4 trillion has not been seen since 2021. the_balance_sheet...
After raising rates as expected, Federal Reserve Chair Jerome Powell addressed the nation this week without referencing Ukraine nor the Pandemic as the cause of (price) inflation. Perhaps the start of a new year gave a reason for the change, or maybe he’s looking to start a new narrative soon. It’s difficult to determine as he continued in Fedspeak, avoiding real answers during the Q &...
Will the Fed be successful with its "Immaculate Disinflation"? Or, will we still have to "pay an even higher price" for their use of Weapons of Massive Monetary Destruction in 2020-21?
Used-Vehicle Auction Prices Rise Again, after 2022 Plunge, on Strong Retail Sales. Buyers’ Strike Over? “Core” Inflation at ...Feb 7, 2023 - 11:26:34 PST
These price increases “were not typical” for January: Manheim auction house.
The conclusion then is that food prices in Brazil have probably risen much faster than wages leading to food insecurity.
After Jerome Powell raved about the strong US labor market and oddly ignored the staggering crowding-out of US interest payments on its massive debt, the US Treasury’s 3-year debt auction was…
Feb 7, 2023 - 11:21:08 PST
As banks tighten, we are seeing a slow down in the growth rate for C&I lending and 1-4 unit mortgage lending.
That's the initial message the market heard from Fed Chair Powell. He confirmed his message from the post-FOMC presser message that disinflation has barely begun and there’s still a long way to go.and that “financial conditions have tightened.” "Financial conditions are more well-aligned with that than they were before." He also reiterated that more rate hikes are likely to be needed.
Watch Live: Will Fed Chair Powell Pull The Dovish Rug Out From Under The Market?Feb 7, 2023 - 09:02:33 PST
Since Fed Chair Powell went full dove-tard during last week's FOMC press conference - driving asset prices vertically higher - a considerably stronger than expected payrolls print stole the jam out of the 'Fed pause/pivot'-party's donut, with stocks sinking back and bond yields exploding higher.
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Is the global consumer starting to capitulate?
Feb 7, 2023 - 07:19:12 PST
When QE ended, the Fed reinvested any maturing securities to maintain the size of its balance sheet. With QT, the Fed stopped reinvesting up to $30 billion in maturing Treasuries and $17.5 billion in maturing MBS every month, passively shrinking its assets as those securities "roll off" without being replaced. Those caps rose to $60 billion and $35 billion, respectively, in September.
World Is Walking Into WW3 With "Eyes Wide Open" - UN Chief Tells General AssemblyFeb 7, 2023 - 07:18:08 PST
United Nations Secretary General Antonio Guterres warned on Monday in a speech delivered before the 193-member UN General Assembly that the world is headed toward a "wider war" in Ukraine due to the ever-increasing risk of escalation.
The US trade deficit for all of 2022 rose 12.2% to $948.1 billion, the widest gap on record, as the US continued to depend heavily on imports from other countries to meet domestic demand.
A group of House Republicans is supporting legislation that would replace federal income, payroll, estate, and gift taxes with a 30 percent national sales tax. The bill also eliminates the Internal Revenue Service, giving states the responsibility to collect the sales tax and send the revenue to DC.
Fed Loan Officers Paints Dire Picture: Loan Standards Approaching Record Tightness As Loan Demand Plummets Feb 7, 2023 - 07:08:07 PST
Late last week, when looking at the most recent Senior Loan Officer Opinion Survey held by the Fed, we noted that the surge in revolving credit has not gone unnoticed by lenders: the on bank lending practices showed banks tightening lending standards for commercial, mortgage, and credit card loans.
Swiss citizens will get the chance to try to ensure that their economy never becomes cashless, a pressure group said, after collecting enough signatures to trigger a popular vote on the issue.
Monetary Metals gives a preview into its Seventh Annual Gold Outlook report, including a review of last year’s call, and the key price drivers for gold and silver in 2023.
“Quite frankly, I think there’s so much momentum right now — I’m very confident gold’s going to blow through its previous high and sail into new territory, probably this year,” said mining sector entrepreneur Ross Beaty at the Vancouver Resource Investment Conference (VRIC).
China's gold reserves rose to 65.12 million ounces at the end of January, up 480,000 ounces from the end of December 2022, data from the State Administration of Foreign Exchange showed Tuesday.