By Robert Romano The U.S. economy shed 328,000 jobs in October, raising the national unemployment rate to 3.7 percent as inflation cooled to 7.7 percent annualized, the latest employment and price data from the Bureau of Labor Statistics (BLS) shows. This is what usually happens at the end of economic […]
By Robert Romano The Federal Reserve hiked its core interest rate for banks up once again another 0.75 percent to 3.75 percent to 4 percent on Nov. 2 as high consumer inflation persists in the U.S. economy, and prepared markets for more rate hikes to come until […]
30-year mortgage interest rates continued skyrocketing to an average 6.94 percent on a national basis the week of Oct. 10, according to the latest data by Freddie Mac , nearing the consumer inflation rate reported by the Bureau of Labor Statistics. As the U.S. economy continues overheating, existing home sales have also collapsed […]
By Robert Romano Inflation continued to run hot into September, with consumer inflation still up 8.2 percent annualized and producer inflation at 8.5 percent annualized, according to the latest data by the Bureau of Labor Statistics, as the post-Covid supply crunch continues and the economy overheats, now with demand on the […]
By Robert Romano Job openings fell another 1.1 million in August to 10.1 million according to the latest data from the Bureau of Labor Statistics. Generally, in a recession once jobs openings in the household survey collapse, the unemployment rate will tend to rise as well over […]
By Robert Romano Consumer price inflation and the sagging U.S. economy are weighing heavily on the minds of voters ahead of the U.S. Congressional midterm elections, the latest results of the Economist/YouGov poll show, with 24 percent rating inflation as the top issue and another 11 percent saying jobs and […]
By Robert Romano “Our expectation has been we would begin to see inflation come down, largely because of supply side healing. We haven’t. We have seen some supply side healing but inflation has not really come down.” That was Federal Reserve Chairman Jerome Powell on Sept. 21, […]
By Rick Manning Social Security has long been called the third rail of politics, so any mention of reforming the program in the halls of Congress often sends elected members scurrying for cover. However, right now our nation has a labor crisis. A crisis that is at […]
