Dismal's Smacks

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📈 Macroeconomics

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

August 2023 Money Stock Measures: M1 shrinks $126.6B (-.69%), M2 shrinks $40B (-.19%).

August 2023 Money Stock Measures: M1 shrinks $126.6B (-.69%), M2 shrinks $40B (-.19%).

Look at how M1 and M2 are shrinking! Money Stock Measures. Billions of dollars unless otherwise noted. 1. M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions,

Treasury: "We believe buybacks can play an important role in helping to make the Treasury market more liquid and resilient by providing liquidity support. The buyback program will also help Treasury to better achieve our debt management objectives."

Treasury: "We believe buybacks can play an important role in helping to make the Treasury market more liquid and resilient by providing liquidity support. The buyback program will also help Treasury to better achieve our debt management objectives."

Remarks by Assistant Secretary for Financial Markets Josh Frost Source: https://home.treasury.gov/news/press-releases/jy1757 Highlights: * "We believe buybacks can play an important role in helping to make the Treasury market more liquid and resilient by providing liquidity support." * "The buyback program will also help

Liquidity Fairy Alert! It just keeps going up! Bank Term Funding Program usage above $100B for the 15th consecutive week! ($107.993B vs $107.855B 9/6)

Liquidity Fairy Alert! It just keeps going up! Bank Term Funding Program usage above $100B for the 15th consecutive week! ($107.993B vs $107.855B 9/6)

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 15th week in a row ($107.993B) . * As of 8/31/23 $2,173,066,000 in interest to survive another day.

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