By Robert Romano Don’t look now, but labor markets might be much weaker than previously thought — and that could be bad news for Vice President Kamala Harris’ 2024 election bid against former President Donald Trump. The Bureau of Labor Statistics (BLS) published its preliminary annual revision […]

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By Robert Romano “Wages up, inflation down, way down and continuing to go down.” That was President Joe Biden in his political farewell address to Democrats assembled in Chicago, Ill. for the Democratic National Convention on Aug. 20 that is nominating Vice President Kamala Harris as the party’s nominee, touting in part his administration’s economic record since […]

By Robert Romano Vice President Kamala Harris’ campaign has unveiled a new scheme to facilitate home building and home purchases with hundreds of billions of dollars of subsidies, including a $25,000 first-time homebuyer subsidy, said by the campaign to cost $100 billion to facilitate 1 million first-time home purchases a year over the next […]

By Robert Romano The economy remains the top concern of the American people in the 2024 election by more than 20 points according the latest poll from Fox News taken Aug. 9 to Aug. 12 , with 38 percent saying the economy was the most important issue and former President Donald Trump leading Vice President Kamala Harris on it 52 percent to 46 percent . […]

By Robert Romano Consumer inflation ticked up another 0.2 percent in July, and cooled slightly on the 12-month average to 2.9 percent, amid drops in energy prices as demand continues to fall, according to the latest data from the Bureau of Labor Statistics . This is what usually happens after peak employment and peak inflation, whereby the economy […]

By Robert Romano Former President Donald Trump made a triumphant return to the X (formerly Twitter) platform on Aug. 12 by joining a two-hour X space with X owner Elon Musk that so far 24 million people all over the world have directly tuned into as of this writing, discussing among other issues, the drivers and potential solutions to the sticky […]

By Robert Romano Non-seasonally adjusted unemployment continued claims increased almost 116,000 in July to 1.91 million according to the latest data compiled by the Department of Labor. That’s up 711,000 from its Oct. 2022 low. But overall unemployment has increased by 1.47 million from its Dec. 2022 low of 5.69 million to July’s level […]

By Robert Romano The spread between 10-year treasuries and 2-year treasuries briefly uninverted above 0 this morning on Aug. 5 for the first time since July 2022, when it fully inverted in the wake of the sticky inflation which peaked at 9.1 percent in June 2022 . It quickly reinverted itself and stands at just -0.1 percent as of this writing.  […]

By Robert Romano The U.S. unemployment rate once again ticked up in the month of June to 4.3 percent as another 352,000 Americans said they were unemployed, according to the latest data from the Bureau of Labor Statistics . Markets are crashing in response. Overall, 1.47 million more Americans say they’re unemployed since Dec. 2022 , with the number of unemployed now up to 7.16 million, the highest […]