Stronger than Expected Housing Report in August, Especially Completions
Tyler Mitchell Housing starts, permits, and completions jumped in August, especially completions. Here are the details. Building Permits Privately-owned housing…
Rate Cut Cycle Begins, Fed Cuts its Key Interest Rate by a Half-Point
The market expectation ahead of the meeting were roughly a coin toss but the Fed pulled the trigger…
Dot Plot of Fed Projections Suggests 1-2 More Quarter-Point Cuts This Year
Two Fed members project no more cuts this year. The median projection is a Fed Funds Rate of…
Retail Sales Rise a Feeble 0.1 Percent, Yet Generally Better than Expected
Retail sales were better and worse than expected depending on category breakdowns. Advance nominal and real (Inflation-Adjusted) and…
Industrial Production Rises Strongly from Steep Negative Revisions
After a steep decline, then negative revisions, Industrial Production is about where it was in June. This action…
It’s Rate Cut Wednesday, This is What the Fed Will Say Today
Let’s see if we can predict what the Fed will say today whether the decision is to cut…
Real Median Household Income Increased in 2023 for First Time Since 2019
Last week the Census Department released real median household income for 2023. Let’s investigate. The Census Department reports…
Claudia Sahm’s Recession Denial Theory Flunks a Simple Data Test
Claudia Sahm claims to have invented a recession indicator created by Ed McKelvey. Now she says the indicator…
Elizabeth Warren Asks the Fed for a Three-Quarter Point Interest Rate Cut
A trio of Democrat Senators wrote Jerome Powell begging for a three-quarter point cut. Letter to Powell Here…
The WSJ on Mario Draghi’s Plan to Save Europe’s Economy
This will be short and bittersweet. The WSJ editorial board fails to address the heart of the matter.…