Tag: US economy

April 17, 2024

The battle against inflation is being won by the Fed — even if it doesn’t appear that way to Mr. Market right now. “The reality is that they [the Fed] have got to win the war on inflation, and they […]

November 15, 2023

Despite prominent ECB officials emphatically stating the conversation around rate cuts is premature, the futures market anticipates nearly 100 basis points of cuts in 2024 which paces alongside US expectations. Therefore, the euro no longer holds a notable advantage as […]

November 15, 2023

US retail sales broke its run of six consecutive positive prints in October, dropping 0.1% in the month of October compared to September. In addition, September’s number was revised higher from +0.7% to +0.9%. Retail sales has contributed to the […]

October 26, 2023

Real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023, this according to an advanced estimate by the Bureau of Economic Analysis. This is the most since the last quarter of […]

August 2, 2023

The US Dollar, Dow Jones, S&P 500 and Nasdaq 100 fell after reports crossed the wires that Fitch, a key credit rating agency, downgraded the US score to AA+ from AAA. This partly reflected the “expected fiscal deterioration over the […]

April 27, 2023

The US economy expanded by 1.1% in Q1, according to the latest US Bureau of Economic Analysis (BEA) data, missing expectations of 2%. The US economy grew by 2.6% in Q4 2022. According to the BEA, ‘Compared to the fourth […]

April 18, 2023

Federal Reserve Chair Jerome Powell recently testified before Congress on the current state of the US economy. In addition to monetary policy, Powell was questioned about the Fed’s regulatory proposals regarding cryptocurrencies and climate-related financial risks. Barely mentioned, however, was […]

April 13, 2023

As the Biden White House sticks to its demand for a “clean” bill raising the nation’s debt limit, House Republicans have differing opinions on how to resolve the looming deadline, sometime in June, when the Treasury will not be able […]

April 7, 2023

After setting three straight monthly records, the number of employed Americans leaped again last month, reaching another all-time high in March. The Labor Department’s Bureau of Labor Statistics says 160,892,000 Americans were employed last month, an increase of 577,000 over […]

April 3, 2023

With the collapse of several banks in the last few weeks, many fear that their deposits aren’t safe and another financial crisis is looming. Worse, the fight in Washington over raising the debt ceiling threatens to strain the system still […]

March 28, 2023

As federal spending continues to rise, accumulated federal debt will soon reach all‐​time highs relative to the size of the economy. Federal debt held by the public will hit 107 percent of gross domestic product (GDP) in 2028, surpassing the […]

March 20, 2023

President Biden’s massive government spending caused inflation that led to the collapse of a big bank, by shrinking the value of its long-term loans and bonds. Silicon Valley Bank collapsed last week, in the second-biggest bank failure in American history. […]

March 3, 2023

Republicans on the Senate Banking Committee are keeping a watchful eye on the Federal Reserve’s ongoing review of bank capital requirements. Sen. Tim Scott, R-S.C., the ranking member on the committee, sent a letter to Fed Chair Jerome Powell on […]

February 6, 2023

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 […]

January 23, 2023

This week the US government reached its 31.4 trillion dollars borrowing limit, better known as the “debt ceiling.” This led to a showdown among House Republicans, President Biden, and congressional Democrats. House Republicans are demanding that President Biden and Senate […]

January 9, 2023

The $1.7-trillion, 4,155-page omnibus bill passed during the last week of the 117th Congress to fund the government through Sept. 30, 2023 includes over $47 billion for Ukraine, and increases the president’s drawdown capabilities by 291.9% since October 2022. The […]

December 22, 2022

Ukraine President Volodymyr Zelenskyy “is an inspiring leader, but the most basic reasons for continuing to help Ukraine degrade and defeat the Russian invaders are cold, hard, practical American interests,” Sen. Mitch McConnell (R-Ky.) said on the Senate floor Wednesday. […]

December 2, 2022

The Labor Department’s Bureau of Labor Statistics said the economy added 263,000 jobs in November, higher than the anticipated 200,000; and the unemployment rate held steady at 3.7 percent. But there are troubling trends in Friday’s employment report: Despite the […]

October 24, 2022

Sen. Bernie Sanders (I-Vt.) said Sunday that it’s “hard to say” whether there is a recession coming, and he doesn’t want to see the Federal Reserve raise interest rates, because that will lead to more unemployment and lower wages. When […]

October 6, 2022

THE STATE OF THE ECONOMY After a record resurgence out of the depths of the coronavirus pandemic, the US economy has been struggling in recent months. The 2Q’22 US GDP report showed the economy contracted by -0.9% annualized, marking the […]