John Carney - Page 31

Expectations for retail sales are still high this year. Will declining consumer sentiment throw a monkey wrench into the works?

The more we learn about FTX, the worse it looks.

Manufacturers reported raising prices even more in November than in October or September.

It remains to be seen if Bob Iger has the strength of character to push back against the economically destructive wokeward tilt at Disney.

Here we go again. The Commerce Department on Wednesday said that consumer spending grew by 1.3 percent compared with September, when spending was unchanged with the prior month. Compared with a year ago, retail sales were up 8.9 percent. Total

Biden’s America is increasingly a criminogenic society.

The founder of FTX is reportedly spent the weekend trying to raise a new round of financing to plug the $8 billion hole in his firm’s balance sheet.

The new call for a crypto super fund sounds a lot like a similar proposal launched in 2007 before the ensuing global financial crisis.

Economic confidence slumped in October, partially undoing the climb in confidence seen in the previous three months, the most recent Gallup poll shows. Gallup’s economic confidence index fell to a reading of minus 45, the lowest since July. A month

The best that Sam Bankman-Fried could hope for at the start of this week was that his crypto exchange FTX would turn out to be the equivalent of Bear Stearns. Instead, it turned out to be Lehman Brothers.

Excluding this summer, this is the lowest level for Consumer Sentiment in more than forty years.

“It’s only when the tide goes out that you learn who has been swimming naked,” Warren Buffet famously said.

This will likely be the most expensive Thanksgiving ever for most American families.

Economists had expected prices to be up 7.9% compared with a year ago.

We’re headed for a recession next year and there will be little chance for fiscal policy or monetary policy to provide relief.

A key component of GDP grew by less than expected in the final month of the third quarter.

The prospects for Democrats to hold their majorities in Congress are exceedingly slim.

Most Americans expect Republican majorities in the House and Senate.

Inflation is hands down the most important issue on the minds of Americans on the eve of the midterm elections.

68% of Americans say they will be thinking about inflation a lot when voting this year.

Friday’s jobs numbers raise the risk that inflation may stick around a lot longer than almost anyone expects.

The labor market is still tight enough to support high inflation.

If you want to figure out where monetary policy is heading next, watch the labor market.

Productivity—the measure of how much output in goods and services workers produce in an hour—rose in the third quarter for the first time this year.

The poet and essayist Ralph Waldo Emerson is often credited with advising that “life is a journey not a destination.” Federal Reserve Chairman Jerome Powell on Wednesday told us that for the Federal Reserve, it is the destination that matters more than the journey.

Fed officials agreed Wednesday to lift the benchmark federal-funds rate by three-quarters of a percentage point to a range between 3.75 and four percent.

Leisure and hospitality payrolls drove private sector hiring to a much faster pace than expected.

Seventy-two percent of voters say the economy is “poor” or “not so good.”

A big and unexpected reversal for the Federal Reserve in a closely watched measure of the labor market. The job vacancy ratio is back up to 1.9.

Team transitory is gone. Meet team “overcorrection.”

Measures of new orders and general business activity show demand declining in Texas.

“Weak economic outlooks are dragging on demand. The indicator last fell below 40 in the initial pandemic shock of 2020,” the Chicago ISM said.

Yesterday’s report on third-quarter gross domestic product included a seemingly hopeful bit of data on business investment. Unfortunately, it was probably just another head fake.

No sign of inflation cooling in the latest Personal Consumption Expenditure price index.

Interest rate hikes have not tamed inflation expectations.

The specter of a coming economic slump haunts the return to growth shown in U.S. economic data for the third quarter.