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🌡️ Inflation

In June, the total amount of money owed to finance companies (Consumers, Real Estate, Business) increased 17.7%.

In June, the total amount of money owed to finance companies (Consumers, Real Estate, Business) increased 17.7%.

TLDRS: * In June, the total amount of money owed to finance companies (Consumers, Real Estate, Business) increased 17.7%. * In the first quarter, the interest rate for new car loans was 6.4% with a maturity of 66 months financing $39,066. For used cars, 15.7% with 66 months

Inflation Alert! The Fed's preferred inflation measure continues to rise! Excluding food and energy, the PCE price index increased 4.2 percent from one year ago--still more than DOUBLE the Fed's 2% target. More fuel for rate hikes...

Inflation Alert! The Fed's preferred inflation measure continues to rise! Excluding food and energy, the PCE price index increased 4.2 percent from one year ago--still more than DOUBLE the Fed's 2% target. More fuel for rate hikes...

TLDRS: * The Fed's preferred inflation gauge is still growing... * Reminder, while banks have the liquidity fairy, 'we' get the promise of 2 more rate hikes this year, Atlanta Fed President Raphael Bostic yet again enrichens himself inappropriately from his position. * To fix one end of their

Fed Chair Jerome Powell: "We have tightened policy significantly over the past year." "Inflation has moved down from its peak...it remains too high"

Fed Chair Jerome Powell: "We have tightened policy significantly over the past year." "Inflation has moved down from its peak...it remains too high"

"We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident" https://www.federalreserve.gov/newsevents/speech/powell20230825a.htm Highlights: * "It is the Fed's job to bring inflation down to our 2 percent goal,

NY Fed Survey: Expected likelihood of becoming unemployed rises. Meanwhile, conditional on expecting an offer, the average expected annual salary in the next 4 months increased sharply to $67,416 from $60,310 in July 2022, a new record.

NY Fed Survey: Expected likelihood of becoming unemployed rises. Meanwhile, conditional on expecting an offer, the average expected annual salary in the next 4 months increased sharply to $67,416 from $60,310 in July 2022, a new record.

Mean July 2022 $60,764 Wages on offers grew 14.3% year over year. The Fed is not going to like this for inflation! Mean wage July 2022:$60,310 Expectations of working longer rising... Wut Mean?: * The average full-time offer wage received rose sharply to $69,475. * The average

Inflation Alert! In July, the purchasing power of $100 in January 2000 dropped to $55.20 (-$.20 from June).

Inflation Alert! In July, the purchasing power of $100 in January 2000 dropped to $55.20 (-$.20 from June).

Recall, CPI tracks the loss of purchasing power of your dollars & thereby the purchasing power of your hard earned labor. Folks are 2.1% worse off in terms of real value over the past year! Zooming in: CPI tracks the loss of the purchasing power of your dollars, and

rate hike

Inflation Alert! Bank of England raises interest rates to highest level since the Great Financial Crisis.

Highlights: * The BoE decided to raise the Bank Rate by 0.25 percentage points to 5.25% with a 6-3 vote. * New projections assume the Bank Rate will peak at just over 6% and average just under 5.5% over the next three years. * Economic growth has been steady, but

In June, folks earned a bit more in, spent more, causing PCE, excluding food and energy (the Fed's barometer for if inflation is still growing) to jump up .2% for the month and 4.1% year-over-year. Still more than DOUBLE the Fed's target of 2%!

In June, folks earned a bit more in, spent more, causing PCE, excluding food and energy (the Fed's barometer for if inflation is still growing) to jump up .2% for the month and 4.1% year-over-year. Still more than DOUBLE the Fed's target of 2%!

https://www.bea.gov/news/2023/personal-income-and-outlays-june-2023 Wut mean?: * In June, people earned $69.5 billion more, which is a 0.3% monthly rise--more money earned more money to spend, adding to inflation... * Prices of things people bought (PCE price index) went up slightly by 0.2%. Even if we