Dismal's Smacks

🌙 ☀️

Sign in Subscribe

📈 Macroeconomics

Inflation Alert! NY Fed president John C. Williams in speech: "With inflation expectations well anchored, I expect inflation to decline to around 3%-3.25% this year, before moving to our longer-run goal over the next two years."

"Unemployment gradually rising to about 4%-4.5% over the next year" Source: https://www.newyorkfed.org/newsevents/speeches/2023/wil230419 Highlights: * "Inflation is far too high, and high inflation is hardest on those who can least afford essentials like food, shelter, and transportation." * "The

From the Fed's Beige Book: "Outlooks were largely negative, and contacts voiced concern about weakening demand, a potential recession, and the spillover effects of the recent bank failures on the broader economy."

"Many expressed concerns about the potential for a recession in the coming year." Summary of Commentary on Current Economic Conditions by Federal Reserve District Commonly known as the Beige Book, this report is published eight times per year. Each Federal Reserve Bank gathers anecdotal information on current economic

Federal Reserve Alert! Governor Michelle W. Bowman speaking on the potential politicization of CBDC policy objectives:

"potential to allow the government to limit certain types of private spending or limit access to banking accounts, it could also threaten the Federal Reserve's independence." Source: https://www.federalreserve.gov/newsevents/speech/bowman20230418a.htm Highlights: * While the Federal Reserve plays an important role in these

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

Today, a CLOSED meeting of the Board of Governors of the Federal Reserve System was held under expedited procedures as it was determined that the public interest did not require opening the meeting. Matter Considered: Discussion of the Semiannual Financial Stability Report. Source: https://www.federalreserve.gov/aboutthefed/boardmeetings/20230417closed.

Inflation Alert! March SCE Labor Market Survey: The average full-time offer wage received in the past four months increased to $62,088 from $59,834 in November 2022.

The average reservation wage—the lowest wage respondents would be willing to accept for a new job—rose to a new series high of $75,811 Source: https://www.newyorkfed.org/microeconomics/sce/labor#/ * The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the March

+$60.6769 billion deposited in commercial banks in the last week (Mar 29th-April 4th). Since 2/22/2023, $439.48 billion in deposits have been pulled. $906.85 billion in deposits has been pulled in the last year.

https://fred.stlouisfed.org/series/DPSACBW027SBOG Domestically chartered commercial banks divested $87 billion in assets to nonbank institutions in the week ending March 29, 2023. The major asset item affected was the following: securities, $87 billion. Domestically chartered commercial banks divested $87 billion in assets to nonbank institutions in the

Federal Reserve Alert! Federal Reserve Board announces its approval for UBS Group AG to acquire the U.S. subsidiaries of Credit Suisse Group AG

Federal Reserve Board announces its approval for UBS Group AG to acquire the U.S. subsidiaries of Credit Suisse Group AG Press Release: The Federal Reserve Board on Friday announced its approval for UBS Group AG, of Zürich, Switzerland, to acquire the U.S. subsidiaries of Credit Suisse Group AG,