John Carney - Page 36

We regret to inform you that the recession is back on.

Year ahead inflation expectations came down but longer term expectations ticked up.

Also: here’s why food inflation matters more than headline or core prices.

It sure doesn’t look like “zero inflation” at the grocery store.

Measures of underlying inflation got worse, not better, in July.

Wage gains still lag inflation but real wages did actually rise for the first time this year in July.

Nearly everywhere you look in the grocery store, food prices are still soaring.

The American public appears to be underestimating how big of a toll on employment the war on inflation is going to take.

The biggest decline in records that go back to 1948.

The public may be underestimating how hard it will be to bring down inflation.

Less than three percent of American households expect to be much better off 12 months from now, the N.Y. Fed’s consumer survey showed.

Claim: The decline in the labor force participation rate fell in July because fewer teenagers were working. On Friday, after the Department of Labor’s jobs numbers showed that the labor force participation rate declined from 62.2 percent to 62.1 percent

U.S. employers added a jaw-dropping 528,000 jobs in July, far more than expected, and wages jumped higher than expected—and yet the number of people working or looking for work declined. Where is everyone?

A jobs report that would be wonderful in a low-inflation, high-growth environment is terrible in a high-inflation, low-growth economy.

Economists had expected 258,000 jobs for July.

The Manchin-Schumer bill should now be renamed Build Back China.

Manchin’s bill would prohibit subsidies from going to electric vehicles powered by batteries with materials from China. Michigan’s Democrat Senator Debbie Stabenow is working to undermine that rule.

Men and women. Suburbs and cities. Young and old. Richer and poorer. More educated and less. All agree we’re in a recession.

Like the famous cartoon character Wimpy who promises to pay on Tuesday for a hamburger today, Sen. Joe Manchin’s inflation bill promises to pay for all its extra spending today with savings sometime in the future.

So no anti-inflation pressure until 2028.

The S&P Global survey of services sector businesses showed activity declining at the fastest pace since May of 2020.

The tiny increase is being described as an insult to President Biden.

Amazon is not sweating the corporate tax hike in the Joe Manchin-approved climate spending bill.

Prices are rising faster than wages, forcing households to increasingly turn to credit cards.

Retail and construction openings crashed in June as the Fed raised interest rates at the fastest pace in decades.

July was the best month for stocks since 2020 and the best July for the S&P since 1939. It was also the month in which forecasts of recessions went mainstream.

“The rising cost of living is the most commonly cited cause of lower sales, as well as the worsening economic outlook,” said economist Chris Williamson.

Private spending on single-family homes crashed 3.1 percent in June.

Here’s how much the Inflation Reduction Act will reduce inflation by: zero.

The provision would put taxpayers on the hook for massive energy loans to Indian tribes.

The high cost of living and deteriorating purchasing power continue to be a big drag on consumers.

Spending and prices are rising faster than incomes.

Wages and salaries are up by a record amount. Unfortunately, the cost of living is rising even faster.

More bad news on inflation.

Gross domestic product shrank again last quarter, confirming the widespread impression that the economy is lousy.

A second consecutive quarter of contraction.