Dismal's Smacks

🌙 ☀️

Sign in Subscribe

📈 Macroeconomics

Seasonally adjusted, retail sales up 1.0% in July from June, the biggest increase since January 2023.

U.S. Census Bureau: Seasonally adjusted, retail sales up 1.0% in July from June, the biggest month-to-month increase since January 2023. More cold water on corporate media's 'easing inflation' and September rate cut story.

Pouring gasoline on the inflation conflagration, U.S. retail and food services sales jumped by 1.0% in July 2024 from June, according to the U.S. Census Bureau's latest advance estimates. This marks the biggest month-to-month increase since January 2023. Regardless of the narrative put forth by

Month-to-month CPI and Core CPI accelerated. Inflation is not easing!

While corporate media celebrates 'inflation easing', month-to-month CPI and Core CPI accelerated. Inflation is not easing!

The Consumer Price Index (CPI) and Core CPI both picked up pace in July on a month-to-month basis. Remember, inflation in core services make up over 60% of the total CPI, jumped from what now looks like a previous anomaly (+0.31% up from +0.13% in June.). Meanwhile, food

Consumer credit increased at a seasonally adjusted annual rate of 2.4% during Q2.

Consumer credit increased at a seasonally adjusted annual rate of 2.4% during Q2. Revolving credit (credit cards) up 1.2%, while nonrevolving credit up 2.9%.

Consumer credit increased at a seasonally adjusted annual rate of 2.4% during the second quarter. Revolving credit (credit cards) increased at an annual rate of 1.2%, while nonrevolving credit increased at an annual rate of 2.9%. In June, consumer credit increased at an annual rate of 2.

Total household debt rose by $109 billion to reach $17.80 trillion.

NY Fed Q2 Report on Household Debt & Credit: Total household debt rose by $109 billion to reach $17.80 trillion. Auto & credit card delinquency rates remain elevated.

The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit for Q2, revealing a $109 billion (0.6%) increase in total household debt in Q2 2024, reaching $17.80 trillion. Key Findings: * Mortgage balances rose by $77 billion to

"Current economic conditions at home and abroad appear to be reaching an inflection point"

FSC Chairman holds meeting and emphasizes importance of comprehensive efforts to manage debt risks: "Current economic conditions at home and abroad appear to be reaching an inflection point"

Today, Financial Services Commission (FSC) Chairman Kim Byoung Hwan held a meeting with macroeconomic and financial market experts to review and manage financial risks. key takeaways from the meeting include: * Evaluating financial risks in four areas: household debt, real estate project finance, small business debt, and the soundness of the

Banks at the 90th percentile in securities losses replaced 26 cents of every dollar of outflows with BTFP borrowing

Fed Paper: Banks at the 90th percentile in securities losses replaced 26 cents of every dollar of outflows with BTFP borrowing, compared to only 7 cents on average.

Fed report highlights BTFP's role in March 2023 crisis, with banks in the 90th percentile for securities losses replacing 26 cents per dollar.

IMF: Services price inflation is holding up progress on disinflation

IMF: "Services price inflation is holding up progress on disinflation, which is complicating monetary policy normalization. Upside risks to inflation have thus increased, raising the prospect of higher-for-even-longer interest rates"

The International Monetary Fund said Tuesday in its World Economic Outlook Update that global growth remains on track with the April 2024 World Economic Outlook (WEO) forecast, projected at 3.2% in 2024 and 3.3% in 2025. However, persistent services price inflation is complicating disinflation efforts and in turn,