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The inflation-adjusted income thresholds for the seven tax brackets jumped by more than 7% from 2022.
European Central Bank policymakers laid out diverging views on future interest rate hikes on Monday, suggesting that moves beyond next week's half a percentage point increase remain contentious.
We’ve all heard about how the dollar’s days as the world’s leading reserve currency are numbered. Much of the world wants a new monetary system that isn’t based on the dollar.
Markets have recovered massively in January, boosted by lower inflation and optimistic estimates of growth. The Chinese recovery is a key factor for this optimism, as well as the relief in European sentiment as the euro area may escape recession.
Optimism is increasing on Wall Street, with investors hoping for a “soft landing” in the economy.
Jan 23, 2023 - 11:02:29 PST
The Conference Board’s Leading Indicator should be called The Bleeding Indicator given that the leading index has declined to 10 straight months. This is happening as The Fed tightens monetary policy to combat inflation.
Jan 23, 2023 - 10:59:00 PST
As the Federal Reserve continues its fastest rate hike cycle since the stagflation crisis of 1980, a couple vital questions linger in the minds of economists everywhere – When is recession going to strike and when will the Fed reverse course on tightening? The answers to these queries are at the same time simple and complex: First, the recession has already arrived. Second...
The problem with speculation is that there’s usually a gap between the underlying risk and the inevitable outcome. The gap is most dangerous when there are potential rewards for pushing your luck.
A short, shallow recession may already be baked into stock prices, experts say. A deeper recession likely isn't.
Days after he warned NATO of the likelihood of nuclear war if Russia is defeated in Ukraine, former Russian president and current deputy chairman of the security council Dmitry Medvedev on Monday said the world stands on the brink of World War III due to US and Western aggression against Russia.
The Pentagon has decided to extend a troop deployment in southeast Romania, which is part of the US military buildup in Eastern Europe that was ordered around the time Russia invaded Ukraine. The US currently has about 4,000 members of the US Army’s 101st Airborne Division based out of the Mihail Kogalniceanu Air Base near …
Russia Warns Countries Supplying Ukraine With More Powerful Weapons Risk Their Own DestructionJan 23, 2023 - 07:50:22 PST
The speaker of Russia's parliament warned Sunday that countries supplying Ukraine with more powerful weapons risked their own destruction, a message that followed new pledges of armored vehicles, air defense systems and other equipment but not the battle tanks Kyiv requested.
The Wolf Street Report: What’s Behind the Mass Layoffs in Tech & Social MediaJan 23, 2023 - 07:48:21 PST
Drunk with Easy Money, companies were hogging office space and workers for a future that did not come.
Jan 23, 2023 - 07:46:34 PST
Milton Friedman postulated that MV = PT, where M is money supply, V is velocity, an PT is Price multiplied by Transactions (or GDP)...
The market says it's odd-on for the Fed to cut rates later this year. So is it one and done then one cut? Not quite.
Jan 23, 2023 - 07:43:25 PST
Real Final Sales is the true bottom line performance for the quarter. The difference between the baseline report and RFS is inventories which net to zero over time.
Jan 23, 2023 - 07:41:38 PST
Ah, the start of a new week with Treasury Secretary Janet Yellen arguing (with a straight face) that there is no room in the Federal budget for cuts. Apparenly, Yellen never read any of the massive, pork-laden spending bills signed by Biden (no one else did in Congress either, nor did Biden).
Jan 23, 2023 - 07:39:38 PST
The first headline I saw when I turned on Bloomberg.com was “DOJ Officials Find More Classified Documents at President Biden’s Home.” This is an improvement! So far, the task has been handled by Biden’s private attorneys who don’t have proper security clearance; at least the Justice Department is finally getting involved!
Jan 23, 2023 - 07:36:41 PST
I must admit, Joe Biden has a horribly misleading nickname “Middle Class Joe.” Between Biden’s horrible energy policies and Pelosi’s/Schumer’s spending binges, the US middle class and low wage workers have suffered mightely with the inflation tax. Throw in Jerome Powell and The Federal Reserve’s manic money printing and the American middle class has a problem.
"Widespread Weakness" Across US Leading Economic Indicators "Signal Recession In The Near-Term"Jan 23, 2023 - 07:30:08 PST
The Conference Board's Leading Economic Indicators (LEI) suffered a significantly worse than expected drop in December, tumbling 1.0% MoM (vs -0.7% exp), and the 1.0% decline in November was revised down to a 1.1% drop.