A bit of recent history for the Consumer Financial Protection Bureau (CFPB) Each week we send more than 50,000 complaints about financial products and services to companies for response. If another agency would be better able to assist, we’ll send it to them and let you (the consumer) know. Most companies respond within 15 days. […]
I am not sure if people know what the Jolts Report is. So, I will offer up a descriptive definition; The Job Openings and Labor Turnover Survey (JOLTS) program of the Bureau of Labor Statistics (BLS) produces monthly and annual estimates of job openings, hires, and separations for the nation. The JOLTS program also produces monthly state estimates for […]
Late and brief thoughts on Trump’s assault on the independence of the Fed. It’s old news.now, but one way in which Trump assaulted norms, shocked investors, then flinched when asset prices moved was his discussion of firing the chairman of the Federal Reserve Board. To orthodox macroeconomists and also me this is an extreme heresy. […]
– by New Deal democrat Last week I noted that the deceleration in YoY prices in the existing home sales report was indicative of the ongoing rebalancing of the housing market, and I would be looking for confirmation in the repeat home sales reports this week. This morning, we got it. On a seasonally adjusted […]
– by New Deal democrat This month the economic surveys by the five regional Feds which conduct them – New York, Philly, Richmond, Kansas City, and Dallas – have assumed additional importance as among the likely first warnings of impacts from T—-p’s trade wars. This morning the last manufacturing survey for the month, from Dallas, was […]
I will simplify this to a manner in which I have worked in for almost 50 years. The big issues around manufacturing are the Infrastructure (bldg., machinery, etc.), Overhead, and Labor. All of which is a part of the cost of manufacturing. Typically, you will find the infrastructure to be a onetime price. Overhead has […]
Apparently, MAGA means empty shelves and fewer jobs: “Trump’s tariffs on goods from China have disrupted trans-Pacific supply chains. U.S. officials are alarmed by companies’ dwindling inventories of critical raw-earth metals necessary for a range of economic activity; Beijing restricted the metals this month. In the three weeks since the tariffs took effect, ocean-container bookings […]
As usual, Trump is doing what he accuses others of. In this case, bleating about “waste, fraud and abuse” while removing all the safeguards against waste, fraud and abuse. “The Trump White House this month announced two new executive orders radically changing procurement procedures, especially defense procurement procedures, in ways that will unleash waste, fraud […]
Republicans taking away healthcare from “poor” Americans to fund tax breaks for the 1% which would include billionaires (as if Musk and others are struggling). I believe it is time to put some of them back in the Labor Force. Republicans have decided which 21 million Americans should lose their healthcare, – Charles Gaba ACA […]
– by New Deal democrat Existing home sales are not that important for forecasting purposes, since they have much less economic impact than new home sales, because the main effect is simply a change in ownership. But there has been an ongoing shortage of housing for over a decade, which was only exacerbated by the […]