House prices continued to surge through April; expect no meaningful moderation in the CPI anytime soon House price increases continued to go through the roof as of April, as reported this morning in both the Case Shiller and FHFA house price indexes. The Case Shiller national index rose another 2.1% for the month and 20.4% […]
by Joseph Joyce The Global Financial Cycle and Emerging Market Economies The Federal Reserve’s latest increase in its policy rate is a signal of its desire to reestablish its credibility after U.S. inflation rose to 8.6% in May, and a precursor of more hikes. Similar increases have been implemented by the Bank of England and […]
A comment on housing, inflation, and Fed policy (and a side comment on spending) No big economic news today, and as usual little State reporting on COVID over the weekend, so let me make a couple of points. As an initial note, the big report I will be paying attention to this week is personal […]
Robert Haveman, RIP, Econospeak, Barkley Rosser Robert (Bob) Haveman died on June 18, aged 85. He had been at the University of Wisconsin-Madison since 1970, when I first met him, where he served as Chair of the econ dept., director of the Institute for Research on Poverty, and also Director of the LaFollette Institute for […]
People in Democrat majority Michigan are Angry . . . Michigan Legislative Black Caucus offers scathing response (audacy.com) LANSING (WWJ) — The Michigan Legislative Black Caucus, spearheaded by Sen. Marshall Bullock, slammed the U.S. Supreme Court’s decision in the Dobbs v. Jackson Women’s Health case which effectively ended the constitutional right to abortion in the United […]
New home sales rebound, but downtrend in sales intact; prices continue to climb In response to April’s dismal report, I wrote that “new home sales are heavily revised after the first report. It is not unusual at all for big monthly moves like this to suddenly look much less severe when the number gets revised […]
“Chaos Theory and The End of Roe V Wade,” Econospeak, Barkley Rosser Probably the most famous characteristic of chaotic dynamics is the phenomenon known formally as sensitive dependence on initial conditions, which is more popularly known as the “butterfly effect.” In such dynamics a small change in a starting value or a parameter value can […]
Resurrecting the metric: initial claims lead the unemployment rate; no recession signal so far Initial jobless claims declined -2,000 to 229,000 last week, vs. the 50+ year low of 166,000 set in March. The 4 week average rose from 4,500 to 223,500, compared with the all-time low of 170,500 eleven weeks ago. Continuing claims rose […]
It has been a while since I have listed news articles. Healthcare, Oil, and SCOTUS topics are dominating news today. Colorado is kicking of a Public Option. If successful, it will greatly benefit citizens there. Oil and gasoline are big issues. When taking into consideration inflation, the price today of a gallon of gasoline is […]
RJS, MarketWatch 666 ~~~~~~~ Summary: Producer Prices Rose 0.8% in May; Record Annual Increase of 16.6% for Final Demand Goods The seasonally adjusted Producer Price Index (PPI) for final demand rose 0.8% in May, as average prices for finished wholesale goods rose by 1.4% while final demand for services was 0.4% higher. The increase followed a revised […]