Economic News

  • Thread starter Thread starter nycfan
  • Start date Start date
  • Replies: 3K
  • Views: 157K
  • Politics 
I had an egg Biscuit at the Root Cellar in CH today 14 bucks
 
CFordUNC said:
Man, this Trump economy is absolutely terrible.
Click to expand...
I paid 50 cents more yesterday for the Slow Roasted Chicken Cheesy Dipping Burritos from Taco Bell than I did last week. Price jumped from $4.99 to $5.49 and I swear that they downsized them also.

Thanks Trump
 


U.S. inflation ticked higher last month, in latest sign of persistent price pressures​


“… Friday’s report from the Commerce Department showed that consumer prices rose 2.6% in December from a year earlier, up from a 2.4% annual pace in November and the third straight increase. Excluding the volatile food and energy categories, prices increased 2.8% compared with a year ago, the same as in November and October.

The figures arrive just two days after Federal Reserve officials, led by Chair Jerome Powell, decided to pause their interest rate cuts in part because inflation has largely been stuck at about 2.5%, above their 2% target, for the past six months.

There were some positive signs in Wednesday’s report, however. When measured in shorter time frames, inflation is slowing: In December, core prices ticked up 0.2% from the previous month, a pace that is nearly consistent with the Fed’s annual target. Economists — and Fed officials — pay close attention to core prices because they provide a better read on where inflation is headed. …”
 


“… At issue is a strategy pursued by the Treasury Department since late 2023 to lean more on short-term Treasurys to fund the government. Many on Wall Street credit that approach with calming markets buffeted by sticky inflation and a swollen federal budget deficit.

Key members of the Trump administration, however, have expressed hostility to the strategy, characterizing it as a risky effort to juice the economy. Those include freshly confirmed Treasury Secretary Scott Bessent and Stephen Miran, the president’s choice to chair his Council of Economic Advisers.

Investors have generally welcomed Bessent’s appointment, seeing the former hedge-fund manager as a potential moderating influence on President Trump on issues such as deficit spending and tariffs.

Still, some worry that he might ramp up issuance of longer-term debt, or “duration” in Wall Street parlance, putting upward pressure on already elevated U.S. Treasury yields—a key benchmark for borrowing costs throughout the economy. That has raised the stakes for Wednesday’s release of the Treasury’s quarterly borrowing plans. …”
 
“…
Investors care about the federal deficit because filling a larger budget shortfall requires selling more Treasurys. That can drive down the prices of existing bonds, pushing yields higher.

Details matter, however. Borrowing in T-bills—debt that matures in a year or less—typically has little impact on the 10-year Treasury yield, which is what moves things like mortgage rates.

Investors don’t expect Treasury to change the size of its note and bond auctions this week. The agency typically telegraphs such adjustments well in advance and said in October that it didn’t expect changes to longer-term debt auctions “for at least the next several quarters.” …”
 


Will be interesting to see if China retaliates like during Trump 1 when they stopped buying US agricultural products. US had to spend $60 billion to subsidize the farmers and still many small and mid-suzed farmers went out of business. Also wonder if they will use rare earth metal denials this go-round.
 
heelslegup said:


Will be interesting to see if China retaliates like during Trump 1 when they stopped buying US agricultural products. US had to spend $60 billion to subsidize the farmers and still many small and mid-suzed farmers went out of business. Also wonder if they will use rare earth metal denials this go-round.
Click to expand...
From another thread
The Ministry of Commerce and China’s customs administration also announced new export controls effective immediately on more than two dozen metal products and related technologies. Those include tungsten, a critical mineral typically used in industrial and defense applications, as well as tellurium, which can be used to make solar cells.
 

Americans Kiss Job Hopping Goodbye​

The number of workers who left their jobs last year hit the lowest level since 2020​



"
  • The U.S. job market remains solid, but job hopping has declined as the chance to trade up to a better job has become rarer.

  • Hiring has also slowed, with the share of workers hired into new jobs falling to an average of 3.5% in 2024, down from a recent peak of about 4.4% in 2021.
  • Companies are more focused on controlling salary costs, with some planning layoffs and investing in automation to reduce the need for additional head count. ..."
 
Sheeesh. Not only is the Trump economy a complete train wreck, now the Trump job market is a total disaster. So much winning.
 
CFordUNC said:
Sheeesh. Not only is the Trump economy a complete train wreck, now the Trump job market is a total disaster. So much winning.
Click to expand...
Well, by historical comparison during recessions, the job market is healthy. But by comparison to the job hunter salad days of the last 4 years, the power balance is certainly reverting to employers and many of the employee rights and flex gains are being whittled back.
 
nycfan said:


👀

IMG_4905.jpeg
Click to expand...

U.S. economy added just 143,000 jobs in January but unemployment rate fell to 4%​

  • Nonfarm payrolls in January rose by a seasonally adjusted 143,000 for the month, down from 307,000 in December and below the 169,000 forecast. The unemployment rate nudged lower to 4%.
  • Job growth was concentrated in health care (44,000), retail (34,000) and government (32,000).
  • Wages rose more than expected: Average hourly earnings increased 0.5% for the month and 4.1% from a year ago, compared with respective estimates for 0.3% and 3.7%.
  • The report also featured significant benchmark revisions to the 2024 totals.
 
"... The report also featured significant benchmark revisions to the 2024 totals that saw substantial downward changes to the previous payrolls level though upward revisions to those who reported holding jobs.

The revisions, which the BLS does each year, reduced the jobs count by 589,000 in the 12 months through March 2024. A preliminary adjustment back in August 2024 had indicated 818,000 fewer jobs.

The level of those reporting at work, as computed in the household survey, soared by 2.23 million, the product of annual adjustments for population and immigration in the country. The household survey happens separately from the establishment survey used to tally total jobs. ...

“A lower-than-expected January payrolls number was more than offset by upward revisions to November and December’s totals and a downtick in the unemployment rate,” said Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management. “Those who’d hoped for a soft report that would nudge the Fed back into rate-cutting mode didn’t get it.” ..."
 


Consumer sentiment drops sharply in February as inflation worries jump​


"The University of Michigan’s gauge of consumer sentiment fell to 67.8 in a preliminary February reading from 71.1 in the prior month. That’s the lowest reading since July.

Economists polled by the Wall Street Journal had expected sentiment to rise to a reading of 74 in February.

The decline in sentiment was widespread with Republicans, Independents and Democrats all posting lower readings.

Another key part of the report is the UMich measure of inflation expectations.

According to the report, Americans’ expectations for overall inflation over the next year jumped to 4.3% in February from 3.3% in the prior month. That’s highest since November 2023 and only the fifth time in 14 years there was such a large one-month gain. ..."
 
You must log in or register to reply here.
Back
Top