Economic News

[superrific]

And I assume Cali will not change State requirements-and if carmakers need to meet their requirements.........

Eh, about that. State standards are preempted by federal law in this area, but the Clean Air Act has a complex carveout specially for California, because CA needed stronger rules than the rest of the country because of LA smog. Except the carveout itself is sort of a carveout. Technically, it's a provision allowing a waiver, but the waiver must issue unless certain findings are made -- and that is a conceptual thicket. It's under attack in the law and I do not expect CA's position to win. Just because of who has the last word and how they decide cases.

 

[BillOfRights]

“… But the Cabinet secretary assured that those figures will “rebalance and they’ll regrow,” claiming “this is just a near-term event” and that “next year, the numbers are going to be fantastic.”

He also reiterated his prior prediction that U.S. GDP will rise above 4% in 2026.…”

"Next year" is the new "in two weeks".

 

[heelinhell]

I think the delayed September PCE numbers come out this morning along with the Michigan consumer sentiment report.

That could provide a window into what we will see once the data finally catch up to October and November.

 

[nycfan]

 

[nycfan]