Dismal's Smacks

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🌡️ Inflation

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,

Liquidity Fairy Alert! Up and up it goes! Bank Term Funding Program usage above $100B for the 13th consecutive week ($107.527B vs $107.386B 8/17).

Liquidity Fairy Alert! Up and up it goes! Bank Term Funding Program usage above $100B for the 13th consecutive week ($107.527B vs $107.386B 8/17).

TLDRS: * Borrowing from the liquidity fairy via BTFP continues to make up for a shrinking M2 and dwindling commercial deposits. * Bank Term Funding Program over $100B for the 13th week in a row ($107.527B) . * Notice how use of the Discount Window has PLUMMETED as BTFP has come in to