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🌡️ Inflation

Multivariate Core Trend (MCT) inflation increased to 2.5% in July from 2.2% in June.

Multivariate Core Trend (MCT) inflation increased to 2.5% in July from 2.2% in June. The MCT gauges inflation’s persistence across 17 core sectors of the personal consumption expenditures (PCE) price index.

Inflation measured by the Multivariate Core Trend (MCT) model increased to 2.5% in July, up from a revised 2.2% in June, signaling growing inflationary pressure. The MCT, which gauges inflation’s persistence across 17 core sectors of the personal consumption expenditures (PCE) price index, indicated that the probability

Reserve Bank of Australia Statement on Monetary Policy

Reserve Bank of Australia Statement on Monetary Policy: "forecasts for both headline and underlying inflation over the year ahead have been revised higher" "The inflation forecasts out to 2025 have also been revised higher."

There are both upside and downside risks to the outlook for inflation. Domestic demand pressures on inflation could be more persistent than anticipated – for example, if growth in consumer spending or investment were stronger than forecast – and cost pressures on inflation could be accentuated by supply-side shocks from the conflicts

Consumer Credit September

U.S. Revolving credit (credit cards) grew From August to September by $3.1 billion and increased at an annual rate of 8.6%.

Consumer credit increased at a seasonally adjusted annual rate of 0.4% during the third quarter. Revolving credit increased at an annual rate of 8.6%, while nonrevolving credit decreased at an annual rate of 2.4%. In September, consumer credit increased at an annual rate of 2.2 percent.

THE EMPLOYMENT SITUATION — OCTOBER 2023

BLS: Unemployment holds at 3.9% with a minimal shift in jobless figures. Hourly earnings climb to $34.00, more fuel for the inflation fire!

Highlights: * Total nonfarm payroll employment increased by 150,000 in October. * The unemployment rate remained stable at 3.9%. * Job gains were seen in health care, government, and social assistance. * Employment declined in manufacturing due to strike activity. * The household survey showed little change in the unemployment rate (3.9%

FOMC Statement

Federal Reserve issues FOMC statement: the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.

TLDRS: * The Fed decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. * They will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. * "The Committee is strongly committed

ADP National Employment Report

Inflation Alert! ADP National Employment Report: Private Sector Employment Increased by 113,000 Jobs in October; Annual Pay was Up 5.7% for stayers, 8.4% for job changers.

Wut Mean?: * Private sector employment increased by 113,000 jobs in October. * The jobs report provides a high-frequency, near real-time measure of U.S. employment based on actual payroll data from over 25 million U.S. employees. * No single industry dominated hiring; education and health care took the lead from

EMPLOYMENT COST INDEX – SEPTEMBER 2023

Inflation Alert! Bureau of Labor Statistics: Seasonally Adjusted, Employment Costs Jump Fastest & Highest Recorded in Data Series. More Fuel For Rate Hikes & For Rates to be Held Higher For Longer. South Park Called It!

Wut Mean? Total compensation costs for civilian workers (includes wages, salaries, and benefits of workers in the private sector and in state & local governments—increased 1.1% 3-month seasonally adjusted and 4.9% seasonally adjusted, over the past 12 months the Bureau of Labor Statistics reported this morning. This