Breitbart Business Digest: The Philly Fed’s Patrick Harker Thinks Interest Rates Are High Enough
Philadelphia Federal Reserve President Patrick Harker said on Monday that he believes it is time for the Fed to stop raising rates.
Philadelphia Federal Reserve President Patrick Harker said on Monday that he believes it is time for the Fed to stop raising rates.
Another sign that the economy is not cooling off despite Federal Reserve rate hikes.
The eighth straight month in negative territory.
Manufacturing activity in the Philadelphia area declined again in March, the Federal Reserve Bank of Philadelphia said on Thursday.
A very stagflationary report from the Federal Reserve Bank of Philadelphia.
A bit of relief after the shocking crash in the Empire State manufacturing index.
The Philly Fed’s manufacturing index plunges even deeper into negative territory as high prices destroy demand and interest rates rise.
The Richmond Fed index unexpectedly fell even further into negative territory even as inflation pressures remain extremely high.
The outlook turned negative for the first time since December 2008, when the national economy was deep in the financial crisis.
The survey confirms that the slowdown in the manufacturing sector indicated this week in the New York Fed’s Empire State survey is widespread.
Pricing pressures just keep going up and up and up even as demand shows signs of slowing.
Inflation is heating up even as the Fed gets ready to hike rates.
The forward-looking measure of prices paid by manufacturers jumped to its highest level in decades.
White House economists told America inflation would fade in the later months of 2021. Instead, prices are surging again.
The latest Philly Fed manufacturing survey showed widespread inflation amid softening demand growth.
The latest survey suggests that a slowdown in growth has not slowed down price increases.
The Philly Fed said the prices-paid component of its monthly manufacturing index rose 7.7 points to 76.8 in May, a big jump for the index and the highest level since March 1980.