Why the Fed’s present rate hike campaign is almost unprecedented – by New Deal democrat Just how unprecedented is the Fed’s current rate hike policy? Since the Fed started actively managing the Fed Funds rate in the late 1950s, only two other occasions are similar. The reason the Fed is hiking rates is to combat […]
The important trend in retail sales that Redbook’s weekly report is telling us about – by New Deal democrat This is the first of hopefully two posts I will put up today. Tomorrow retail sales for December will be reported. In advance of that, I wanted to discuss their comparison with the weekly high-frequency data […]
Weekly Indicators for January 9 – 13 at Seeking Alpha – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. One thing that comes with the territory of high frequency indicators is that they can be noisy. And at no time of the year can they be noisier as during and right after […]
“Peter Drucker Sets Us Straight,” January 12, 2004 (cnn.com), Peter Drucker and Brent Schlender This is an oldie from 2004 which still has relevance to what has occurred and is occurring in the world today. Any number of times I have found myself fixing supply chain operations globally for various companies of different countries. Ninety-Four […]
Real average wages and real aggregate payrolls for December 2022 – by New Deal democrat Now that we know December consumer inflation, we can see how the American working/middle class is “really” doing. Nominally, average wages for nonsupervisory workers increased 0.2%, while prices deflated by -0.1%, meaning that “real” average wages increased 0.3% for the […]
Jobless claims start out 2023 where they left off in 2022 – as positive – by New Deal democrat It took a little while for FRED to post this data today, but with that reason for a delay . . . Initial jobless claims started off 2023 where they left off in 2022, with another […]
Consumer inflation remains dominated by gas prices (good) and shelter (bad) – by New Deal democrat Declining gas prices continue to do wondrous things for the economy. In December they declined from roughly $3.50 to $3.10/gallon. Meanwhile the phantom menace of Owners’ Equivalent Rent continues to drag “core” inflation higher. Details below. Total inflation: -0.1%m/m […]
An in-depth look at production and sales: evidence of peaking in both – by New Deal democrat Yesterday I took an in-depth look at employment. Today let’s take a look at two other important coincident indicators that are looked at by the NBER for guidance as to whether or not the economy is expanding or […]
‘Right-to-repair’ advocates skeptical of John Deere agreement, NPR, Joe Hernandez Pulling from NPR’s Joe Hernandez’s article and adding some of my automotive background. to explain. Like automobiles, tractors have gone high-tech using on-board computers and semi-conductors to run various systems within cars and also farm tractors. This includes systems such as fuel injection to oxygen […]
Scenes from the December jobs report: more deceleration – by New Deal democrat The only significant economic data this week will be released on Thursday, with both CPI and jobless claims. In the meantime, let’s take a closer look at the jobs data we got last Friday. As indicated in the title of this post, […]