Dismal's Smacks

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🌡️ Inflation

Fed Governor Michelle Bowman

Fed Governor Michelle Bowman: "Inflation continues to be too high, and I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time"

Highlights: * "Inflation continues to be too high, and I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way." * "Most recently, the

Consumer Credit August 2023

U.S. Revolving credit (credit cards) grew by $14.7 billion (13.9%) in August, up from the $10.4 billion gain recorded in July.

In August, consumer credit decreased at a seasonally adjusted annual rate of 3.8 percent. Revolving credit increased at an annual rate of 13.9 percent, while nonrevolving credit decreased at an annual rate of 9.8 percent. Consumer spending is a major factor in the U.S. economy and

September Employment Situation Summary

Bureau of Labor Statistics: Employment rose by 336,000 in September. Average hourly earnings up .2% for the month and 4.2% for the year. More inflation fuel!

Highlights: * Total nonfarm payroll employment rose by 336,000 in September, and the unemployment rate was unchanged at 3.8 percent--analysts had been expecting 170,000 new workers and 3.7% unemployment... * The number of unemployed persons was essentially unchanged at 6.4 million. * The unemployment rates for adult men

Vice Chair for Supervision Michael S. Barr: "I expect that the full effects of past tightening are yet to come in the months ahead."

Vice Chair for Supervision Michael S. Barr: "I expect that the full effects of past tightening are yet to come in the months ahead."

Highlights: * "I am squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. I strongly agree with the point that Chair Powell has made often, which is that without price stability, the economy does not work for anyone. Price stability is crucial

Consumer Price Index for All Urban Consumers: Purchasing Power of the Consumer Dollar in U.S. City Average

Inflation Alert! In August, the purchasing power of $100 in January 2000 dropped to $55.10 (-$.10 from July).

Zooming in: CPI tracks the loss of the purchasing power of your dollars, and thereby the purchasing power of your hard earned labor! * August 2022 purchasing power of $100 in January 2000: 57.1 (down -3.5% in purchasing power in the last year!) * August 2021 purchasing power of $100

Inflation Alert! Wholesale inflation posts largest increase in 14 months as producer price index jumped .7% (economists predicted .4%) in August.

Inflation Alert! Wholesale inflation posts largest increase in 14 months as producer price index jumped .7% (economists predicted .4%) in August.

TLDRS: * Wholesale inflation posts largest increase in 14 months as producer price index jumped .7% (economists predicted .4%) in August. * The PPI report captures what companies pay for supplies such as fuel, packaging, shipping, etc. * These costs are usually passed on to the consumer, so is a good barometer for

Inflation Alert! In August, the Consumer Price Index for All Urban Consumers increased 0.6 percent, seasonally adjusted, and rose 3.7 percent over the last 12 months, not seasonally adjusted.

Inflation Alert! In August, the Consumer Price Index for All Urban Consumers increased 0.6 percent, seasonally adjusted, and rose 3.7 percent over the last 12 months, not seasonally adjusted.

TLDRS: * In August, the Consumer Price Index for All Urban Consumers increased 0.6 percent, seasonally adjusted, and rose 3.7 percent over the last 12 months, not seasonally adjusted. * Corporate media will try and say this is a last 'summer hoorah' of spending. Compared to August 2022,