Public Uncle Sam Isn’t Santa Claus Jun 12, 2022 1 min read Following Friday’s CPI shocker, the financial media seem to have concluded that the Fed will have no choice but to raise the federal funds rate faster than planned to bring inflation down—causing a recession. The Fed is now expected to raise the federal funds rate on Wednesday by 75bps rather than 50bps. The two-year Treasury note soared 23bps on Friday to 3.06%, implying investor expectations that the Ed Yardeni
Paid Mortgage Applications Falling, Consumer Credit Balances Rising Jun 8, 2022 1 min read paid The housing market may be falling into a recession, but consumers continue to spend—though they have needed to borrow more to do so. The seasonally adjusted purchase Index for mortgage applications, compiled by the Mortgage Bankers Association, decreased 7% w/w and 21% y/y during the week ended June 3. Record-high home prices combined with this year’s spike in the mortgage rate to 5.40% have clobbered Ed Yardeni
Paid Don't Bet Against American Consumers May 17, 2022 1 min read paid How much pain at the pump can consumers take? The national retail price of a gallon of gasoline soared to $4.59 during the May 16 week. Ed Yardeni
