As we noted, we got it half wrong. Since “It’s the economy, stupid,” we had forecast that President Joe Biden would pressure the Federal Reserve not to raise interest rates 75 basis points last week to help boost the equity markets and voter sentiment prior the mid-term elections.
Tag: U.S. economy
IS THE FEDERAL RESERVE MERELY INCOMPETENT OR IS THERE A DARK AGENDA?
I have never known the Federal Reserve to make a good decision. Indeed, disastrous decisions are the Fed’s hallmark. There are many such disasters. Among them the Great Depression, the decade long consequence of the Federal Reserve Board’s failure to prevent the shrinkage of the U.S. money supply.
MORE THAN A THIRD OF SMALL BUSINESSES STRUGGLE TO PAY THEIR RENT
In October, 37 percent of U.S. small businesses were unable to pay all of their rent on time, according to an October survey of 4,789 businesses by Alignable, a small-business network with seven million members.
ECONOMIC UPDATE – MARKET OVERVIEW
Today is Election Day in America, the country that John Pilger, who wrote “SILENCING THE LAMBS,” said overthrew or attempted to overthrow 50 governments that were mostly democracies, in his lifetime.
MORTGAGE RATES HIGHEST IN 20 YEARS
The U.S. average interest rate on a fixed-rate, 30-year mortgage reached 7.08 percent during the week ended 28 October, according to the Federal Home Loan Mortgage Corporation (Freddie Mac).
HIGH RENTS CHILL APARTMENT DEMAND
Third-quarter demand for U.S. apartments sank to a 13-year low after rental rates rose 25 percent over the past two years, according to rental website Apartment List.
DISTRESSED CORPORATE DEBT RISES. WILL A DEFAULT WAVE FOLLOW?
The number of corporations with bonded debt regarded as “distressed”—a sign that the companies are moving toward default—is the largest since September 2020.
THIRD-QUARTER GROWTH FAILS TO EASE RECESSION FEARS
During the first six months of this year, Americans spent lavishly on imports, while U.S. exports remained modest.
U.S. ECONOMY GREW IN REAL TERMS IN THIRD QUARTER
Adjusted for inflation, the U.S. GDP grew 2.6 percent in this year’s third quarter, after shrinking during the year’s first half.
WAGES, PRICES CONTINUED TO SPIRAL UPWARD IN SEPTEMBER
In September, the Personal Consumption Expenditures Price Index—the U.S. Federal Reserve’s preferred gauge of inflation—rose at 6.2 percent, year on year.