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German Finance Ministry Expects Interest Burden To Nearly Double in 2023Jun 22, 2022 - 12:23:11 PDT
Rising interest rates and high inflation will cause the German government's interest burden to nearly double for 2023, according to an internal assessment from the finance ministry.
Here are five ways that an environment of increasing interest rates will affect Americans’ wallets and the economy:
Here in Part 2 of our interview with money manager Peter Boockvar, Peter explains how bear markets are actually favorable for the prudent investor because they can offer extremely attractive valuation entry points for high-quality assets.
ECB Balance Sheet Hit Another ATH As Lagarde Keeps Printing Press On Despite Record-High InflationJun 22, 2022 - 11:54:05 PDT
Total assets rose by €7bn to €8,827.9bn. ECB balance sheet now equal to 82.4% of #Eurozone's GDP vs Fed's 36.6%, BoE's 39.6%, BoJ's 136.3%.
Federal Reserve Chair Jerome Powell gave his most explicit acknowledgment to date that steep rate hikes could tip the US economy into recession, saying one is possible and calling a soft landing “very challenging.
It's time to reprogram the conditions of the economy to serve the many rather than the few.
Biden Blames Putin, Refiners, & Gas Stations For Record Prices: 'Cost Of Saving Democracy'Jun 22, 2022 - 11:48:53 PDT
Having had the 'Putin Price Hike' narrative thoroughly dismissed by Fed Chair Powell earlier in the day, President Biden is set to keep repeating the 'big lie' until more people believe it.
President Biden is set to announce a temporary suspension of the federal gasoline tax in the face of record gas prices in the US. However, with gas prices around five dollars per gallon, the 18 cents per gallon savings equals about two dollars per tank savings. Is this a band-aid on a gushing wound? Also today, only 11 percent of Americans buy the "Putin price hike" rhetoric.
My visceral reaction to the video was to make the comment I posted in my tweet: how could it not be criminal to be this wrong, when so much hangs in the balance?
The US economy is strong but faces an "uncertain" global environment and could see further inflation "surprises," Federal Reserve Chair Jerome Powell said Wednesday.
Sen. Warren Warns Fed Chair Powell Not To ‘Drive This Economy off a Cliff’Jun 22, 2022 - 08:45:49 PDT
Warren told Fed Chairman Jerome Powell during a Senate Banking Committee hearing. "You could actually tip the economy into a recession," she said. The Fed has no control over global oil prices that are driving up gas prices, Warren said. "What's worse than high inflation and low unemployment?" Warren asked. "High inflation and recession with millions of people out of work," she answered. "I hope you consider that before you drive this economy off a cliff," she said.
Former president of the Federal Reserve Bank of New York, and vice-chair of The Fed Bill Dudley has not been shy to express his real thoughts since he left the hallowed halls of groupthink.
Jun 22, 2022 - 08:28:40 PDT
Thomas Hoenig, who served as president of the Federal Reserve Bank of Kansas City, explains what will create a 'great' reduction of liquidity and borrowing, which he argued will lead to uncertainty.
So, no, the economy is not strong and neither is the job market. The economy has too few workers to do the work that needs to be done to meet routine supply requirements, and the only way to entice workers back under the additional inflation yet to come will be by offering significant raises to offset that inflation, which creates a vicious circle, rather than a virtuous circle:
'Inflation Was High Before Ukraine': Powell Tosses Biden Back Under The BusJun 22, 2022 - 08:24:35 PDT
Fed Chair Powell's response - which we note was completely ignored by many mainstream media outlets who were writing real-time transcripts of the hearing - was shocking in its frankness: "No. Inflation was high, certainly before the war in Ukraine broke out.” Ouch! So 'Putinflation' is not real after all?
Here’s Where the Inventory Shortages Are, and Where Retailers Are Overstocked, by Retailer CategoryJun 22, 2022 - 08:06:07 PDT
It’s still supply-chain chaos for retailers, but different retailers face different kinds of chaos.
Jun 22, 2022 - 08:05:08 PDT
Majority blame the president.
Jun 22, 2022 - 06:16:03 PDT
The Senate Banking, Housing, and Urban Affairs Committee holds a hearing on the semiannual monetary policy report to Congress. Federal Reserve Chairman Jerome Powell testifies before the committee on fighting inflation and the state of the economy.