Calls heat up for the Fed to back off quest for 2% inflation

For at least the past decade, the Fed has determined that 2% annual inflation is where the economy functions best. But the Fed may be about to back off of that goal as criticism on the Fed heats up. Barry Sternlicht, the head of Starwood Capital, claimed in an interview on CNBC’s “Squawk box” that […]

Housing market to fall off a cliff by January according to top Homebuilders

Homebuilders expect 2023 to be much worse for the housing market and are now warning that we are on the edge of a cliff. “There’s this cliff that’s happening in January,” said Gene Myers, CEO of Thrive Homebuilders in the Denver area, which was one of the hottest markets in the years leading up to […]

 US annual Core PCE inflation continues to rise

Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 6.2% on a yearly basis in September, the US Bureau of Economic Analysis announced on Friday.  The Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, rose by .2% in September to 5.1% on a yearly basis, from […]

GDP grows faster than expected for Q3. Why that is likely to become a bad thing

On Thursday the latest GDP numbers were released and it showed the first positive growth for 2022. This comes after two consecutive quarters of negative GDP growth, which historically means we are in a recession. GDP, a sum of all the goods and services produced from July through September, increased at a 2.6% annualized pace […]

US could be heading for energy crisis this winter as diesel reserves drop to 25 days

Diesel demand is surging in the US while supplies remain at the lowest seasonal level since 1951, according to government data released Wednesday. National Economic Council Director Brian Deese told Bloomberg TV last week that diesel inventories are “unacceptably low” and “all options are on the table” to build supplies and reduce retail prices. The […]

Homebuilder sentiment drops to half of what it was six months ago

Homebuilder sentiment for single-family homes has fallen to half what it was just six months ago. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), which gauges market conditions, fell 8 points to 38 in October from the previous month. That is down from 84 in December 2021 and 67 in June […]