As Signs of Recession Mount, the Fed Reiterates its Hawkish Path (Even Volcker Relented as the Recession Approached!)
The chart shows the continued downtrend in same store sales and, while the Seasonally Adjusted (SA) rise in April’s Retail Sales of +0.4% over the
More Proof: Deflation Is The Future
Consumer Prices The Consumer Price Index (CPI) rose +0.4% in April (4.95% Y/Y). Core services (ex-housing), an important sub-index for the Fed, came in a
The Seeds of Deflation – Sewn by the Fed
Despite the many announced layoffs these past few months, the unemployment rate decreased to 3.4%. That’s tied for the lowest level since 1953. Of course,
March Inflation: In Like a Lion; Out Like a Lamb
The CPI came out on Wednesday – it only rose +0.1% in March – that’s down from +0.4% in February and +0.5% in January. On
Deflation is the Future
Most of the panic from the mid-March bank runs seems to have dissipated. But, we caution, most of the real fallout lies ahead as banks
If You Think the Banking Issues Are One and Done, Think Again!
The banking chaos appears to have calmed somewhat this week, with no new banks targeted for deposit outflows. The chart shows that as of the
