Update 808 — Sprint: September and Beyond:FY25 Budget, Harris Tax Proposals, Jobs Report This week’s leading macroeconomic news: the August jobs report, which showed that the American labor market has solidly shifted into lower gear, with job gains, 142,000 for the month, notably cooling. Also, Democratic presidential nominee Kamala Harris debuted a new set of …
Update 801 – Job Gains Slow to 114KAs Congress Heads for August Recess This morning’s weaker-than-expected jobs report showing just a net 114,000 positions added in July suggests that the Fed’s decision earlier this week to hold interest rates steady instead of initiating cuts may have been too hawk-ish. With the labor market still strong, …
Update 799 — GDP Surges 2.8% in 2d Qtr.,PCE Eases Again, Leading Weekly Roundup The American economy grew by an unexpectedly strong 2.8 percent last quarter — double the growth rate of the prior quarter— and prices continued to come down last month, with inflation falling to 2.5 percent in June, according to new macroeconomic …
Update 795 — June CPI Down by 0.1%First Monthly Price Drop Since May 2020 The Consumer Price Index (CPI) turned a corner last month, with the report for June released yesterday showing that the cost of goods and services declined nationally on a monthly basis for the first time in over four years. Year-on-year, prices …
Update 795 — CPI: First Monthly Price Drop in Four Years Read More »
Update 792 – Biden’s Debate PerformanceRaises Questions, Leading Week’s Roundup President Biden’s halting performance in last night’s debate, including several gaffes and his inability to counter Donald Trump’s relentless lying and present a clear vision of where he seeks to lead the nation, has raised questions from agonized Democrats about his candidacy for re-election. Trump …
Update 792: Debate Postscript and Weekly Roundup Read More »
Update 790 – SCOTUS Rules Less in Moore,CBO’s Deficit Score, Lead Weekly Round-Up A split Supreme Court ruling on Moore v. U.S. leaves intact the repatriation provision of TCJA, the 2017 Trump tax cut, saving the nation hundreds of billions of dollars and disallowing a means by which wealthy individuals could game the tax code, …
Update 786 — 272,000 Jobs Added in May;Robust Report to Give Fed (Another) Pause? The labor market remains remarkably strong in the lead up to the Fed’s June interest rate decision next week. Before we can see long-awaited interest rate cuts from the Fed, Chair Powell has said that it must either see inflation approach …
Update 784 — Do We Find the Felon Fit?Macro Stats; Direct File Status; Roundup “We the Jury of the United States in general election assembled, find…” Yesterday’s gratifying verdict — issued by the New York Supreme Court jury finding Donald Trump guilty on all 34 counts of falsifying business records in his porn star hush-money …
Update 784: Verdict, Prices, Direct File in Roundup Read More »
Update 783 — Crypto Spring in Congress,Student Loans, Live Nation, Week in Review With the litany of crypto-related scandals and bank failures long-forgotten, both houses of Congress have recently adopted measures friendly to the cryptocurrency industry for the first time. The FIT bill that cleared the House on Wednesday would redefine securities and commodities for …
Update 781 — SCOTUS Affirms CFPB Funding,Biden Hikes China Tariffs, to Lead Econ. Week The U.S. Supreme Court upheld the constitutionality of the Consumer Financial Protection Bureau’s independent funding mechanism in a 7-2 ruling handed down yesterday. Justice Clarence Thomas joining and indeed writing the majority opinion may have been the biggest surprise. Consumer advocates …
