Fed hikes core interest rate to 4.25 to 4.5 percent and downgrades 2023 GDP forecast, foresees higher unemployment

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. […]


Inflation keeps cooling as global economic slowdown takes hold, but how bad will the recession be?

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 […]


Cartoon: Cleaning House


Another 139,000 jobs lost in the household survey for second straight month as 186,000 leave the U.S. labor force amid hiring slowdown

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 , […]


Apple’s threat to Elon Musk that it will cancel Twitter from the App Store confirms anticompetitive corporate censorship regime strangling U.S. economy

By Robert Romano “Apple has also threatened to withhold Twitter from its App Store, but won’t tell us why.” That was Twitter CEO Elon Musk on Nov. 28 in a tweet , warning Twitter’s more than 250 million daily active users that their favorite app may be removed from Apple’s App Store available exclusively on iPhones after Musk purchased Twitter for $44 billion. And […]


From Privation to Private Property: The True Story of Thanksgiving

By  Rick Manning November of 1621 marked one-year in the New World for a band of what began as 35 English religious separatists and 67 entrepreneurs who had landed on the shores of New England. In their first winter, harsh conditions and diseases like pneumonia and scurvy […]


Unemployment ticks up as 328,000 jobs lost in October and inflation cools with 2024 looming

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 […]


The Fed hikes its core interest rate up to 3.75 percent to 4 percent. But is it enough to destroy the $6 trillion printed for Covid and cool inflation?

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 […]


Mortgage interest rates continue skyrocketing, nearing the consumer inflation rate as home sales collapse

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 […]


Cartoon: Driven To Drink

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