Larry Fink sees elevated inflation for years due to supply shocks
Bloomberg/Silla Brush and Annie Massa/6-2-2022 “‘It’s been aggravated by Covid and lockdowns in different parts of the world,’ Fink, 69, said Thursday in a wide-ranging...
Investors may be in for a rude surprise: History shows inflation can take years to return to normal even when the Fed hikes interest rates above 10%
MarketWatch/Vivien Lou Chen/6-4-2022 “History can be a powerful tool, particularly in a high-inflation environment like this one in which no suitable economic model seems to...
Yellen says the administration is fighting inflation, admits she was wrong that it was ‘transitory’
Treasury Secretary Janet Yellen emphasized that the White House has several strategies ready to go that will reduce an inflation burden she conceded is too...
Fed Starts Experiment of Letting $8.9 Trillion Portfolio Shrink
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg The Federal Reserve...
Stagflation Threat Soars As Manufacturing Surveys Show Soaring Costs, Weaker Jobs
With US Macro Surprise data in freefall throughout May, expectations were for Manufacturing sentiment surveys to slide (ISM extending its weakness and PMI confirming its...
Heartaches By The Number! Under Biden, Mortgage Refi Applications Down -82.4%, Purchase Applications Down -7.5% And Mortgage Rates Up+80.7% (Fed FINALLY Begins Removing Stimulus!) – Confounded Interest – Anthony B. Sanders
Heartaches By The Number … for American households and mortgage lenders as The Federal Reserve begins FINALLY removing monetary stimulus. Mortgage applications decreased 2.3 percent...
US Gasoline And Food Prices Soar To All-time Highs As Fed Begins Removing Monetary Stimulus (10-year US Treasury Yield Jumps 8.7 BPS) – Confounded Interest – Anthony B. Sanders
US gasoline prices just rose to an all-time high. Yes, even higher than the Dubya-era gasoline price surge of 2008. Rising gasoline and diesel prices...
1/3 of Consumers Earning a Quarter of a Million Dollars are Living Paycheck to Paycheck
SAN FRANCISCO, June 1, 2022 /PRNewswire/ — LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, today released findings from...
Job Openings Plunge By Most Since Covid Crash But Remain Stubbornly Elevated With Quits Near Record High
After recent reports that the US labor market had suddenly hit a brick wall, with mass layoffs surging… … and job openings according to third-party...
ADP Employment Data Signals Weakest Labor Market Since COVID Collapse
With various sentiment measures of employment sagging notably, and ISM Manufacturing employment dropping into contraction, it was perhaps surprising that analysts expected ADP to show...