Dismal's Smacks

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📈 Macroeconomics

Federal Reserve Alert! Today, a CLOSED meeting of the Board of Governors was held under expedited procedures as it was determined that the public interest did not require opening the meeting.

Federal Reserve Alert! Today, a CLOSED meeting of the Board of Governors was held under expedited procedures as it was determined that the public interest did not require opening the meeting.

https://www.federalreserve.gov/aboutthefed/boardmeetings/20230712closed.htm Interesting they are talking Financial Markets, Institutions, and Infrastructure behind CLOSED doors when the SEC has THIS going on tomorrow now in their CLOSED door Sunshine meeting: https://public-inspection.federalregister.gov/2023-14986.pdf 'Consideration of amici participation' added to the

Inflation Alert! Despite a 3.0% increase in the overall index, excluding food and energy, inflation remains persistent as it rose by 4.8% over the past 12 months. While Corporate Media celebrates the headline, inflation is still growing.

Source: https://www.bls.gov/news.release/cpi.nr0.htm All items less food and energy: * Inflation and Housing: * The overall index for items excluding food and energy increased by 0.2% in June. * The cost of housing, represented by the shelter index, rose by 0.4% in June. * Rent

Inflation Alert! The Reserve Bank of New Zealand's Monetary Policy Review July: The Official Cash Rate (OCR) held at 5.5%. Employment above sustainable level, Consumer spending slows.

https://www.rbnz.govt.nz/hub/news/2023/07/official-cash-rate-remains-on-hold Highlights: * The RBNZ has decided to keep the Official Cash Rate (OCR) at 5.50%. Remember, this is the rate of interest which the RBNZ charges on overnight loans to commercial banks. * The RBNZ expects the OCR to remain at

In May, consumer credit (AKA DEBT) increased at a seasonally adjusted annual rate of 1.8%. Revolving credit (credit cards) increased at an annual rate of 8.2%, nonrevolving credit (student loans, mortgages) decreased at an annual rate of 0.4 percent.

Total outstanding hit new all time high $4,864.9B https://www.federalreserve.gov/releases/g19/current/default.htm https://fred.stlouisfed.org/series/TOTALSL https://fred.stlouisfed.org/series/REVOLSL https://fred.stlouisfed.org/series/NONREVNS Wut mean? * Total consumer credit increased at an annual rate of 1.8%

Liabilities and Capital Liabilities: Earnings Remittances Due to the U.S. Treasury -76.292 billion as of 7/5/2023.

Let's talk about the Fed's cumulative losses, in fewer than 9 months, are GREATER (-76.292 billion, so far vs $76 billion) than what was remitted to the U.S. Treasury for ALL of 2022... https://fred.stlouisfed.org/series/RESPPLLOPNWW Remember, the Fed is playing

As the job market levels up, the Fed readies rate hikes. To fix one end of their mandate (price stability) from the inflation problem they created, the Fed will continue sacrificing employment (the other end of their mandate) to bolster price stability...

by continuing to raise interest rates. Source: https://adp-ri-nrip-static.adp.com/artifacts/us_ner/20230706/ADP_NATIONAL_EMPLOYMENT_REPORT_Press_Release_2023_06%20FINAL.pdf Wut mean? * 497,000 jobs popped up in June (Economists polled by the Wall Street Journal had forecast a gain of 240,000 private-sector jobs)

Federal Reserve Alert! Minutes of the Federal Open Market Committee, June 13-14, 2023. The staff continue to project a mild recession to start later this year due to the expected further tightening of bank credit conditions amid already tight financial

Good afternoon Superstonk, let's dig into the minutes of the Federal Open Market Committee, June 13-14, 2023. This is a huge post so it will run into the comments but I am including a tldr to go with each section. The post itself has the main 'TLDRS&