By Robert Romano After accommodating the greatest monetary expansion in American history during Covid production slowdowns, lockdowns and temporary pandemic unemployment the American people found themselves in 2020, in which the Federal Reserve set interest rates to near-zero and the M2 money supply increased by about $6 trillion, the past year, […]

By Robert Romano Last week, U.S. Treasury Secretary Janet Yellen warned Congress that the $31.4 trillion debt ceiling was coming due on Jan. 19 and that Congress had better act to increase or else, boy, would there be hell to pay. The sun rose on Jan. 19. […]

By Robert Romano President Joe Biden is insisting on a rubber stamp for increasing the debt ceiling from its current level of $31.4 trillion, which U.S. Treasury Secretary Janet Yellen is warning Congress will come due on Jan. 19 as so-called “extraordinary measures” to refinance the debt […]

By Robert Romano U.S. Treasury Secretary Janet Yellen has warned that the U.S. debt ceiling will come due on Jan. 19, as so-called “extraordinary measures” of refinancing the debt up to the current limit $31.4 trillion are reached, setting up a showdown in Congress as the newly elected […]

By Robert Romano Consumer inflation has fallen to 6.5 percent over the past 12 months as petroleum and gasoline prices continue declining according to the latest data published by the Bureau of Labor Statistics . In December, prices for all items actually declined 0.1 percent. Which is what usually happens in recessions after peak employment is reached. Consumers max […]

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By Robert Romano The U.S. Federal Reserve once again hiked its core interest rate , the Federal Funds Rate, by another 0.5 percent to 4.25 percent to 4.5 percent amid continued high prices even as inflation has cooled somewhat the past five months, as the central bank downgraded its 2023 economic forecast on both growth and labor markets. […]

By Robert Romano Consumer inflation in the U.S. fell to 7.1 percent for the past 12 months in November, down from 7.7 percent in October and 8.2 percent in September , according to the latest data from the Bureau of Labor Statistics (BLS), as the global economy continues cooling. That makes the fifth straight month that prices have kept on falling after inflation peaked […]

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By Robert Romano 139,000 fewer Americans said they had jobs in November in the latest household survey by the U.S. Bureau of Labor Statistics (BLS) as another 186,000 Americans left the U.S. labor force — the second month in a row both decrease — that came after a slowdown of hiring with 353,000 fewer jobs openings in October . This is what usually happens in recessions.   In every one of the 12 recessions since 1948 , […]