Consumers’ income growth and spending levels have slowed in the early days of 2023. Inflation, meanwhile, maintains its downward trajectory. Personal income rose 0.3 percent in February, down from 0.6 percent in January. This was slightly higher than the market estimate of 0.2 percent. Personal spending edged up 0.2 percent, down from two percent in […]
Archives for March 2023
Federal Reserve’s balance sheet eases as bank emergency lending slows
The Federal Reserve’s emergency lending to banks appears to have slowed. For the week ending March 30, the U.S. central bank’s balance sheet eased by nearly $30 billion to $8.706 trillion, down from $8.734 trillion. In the aftermath of the Silicon Valley Bank and Signature Bank failures, the Fed employed emergency lending tools, prompting the […]
China settles first LNG trade in yuan
Is it us, or is the de-dollarization campaign kicking into overdrive? Whether it’s because China sees weakness in the current administration or they just want to ditch the buck as quickly as possible, it is evident that the world is shunning the buck. According to Reuters, Chinese national oil company CNOOC and France’s TotalEnergies completed […]
Fed Dallas Bank Survey: ‘Collapsed Silicon Valley Bank could be the beginning of more challenges ahead’
The Federal Reserve Bank of Dallas’ General Business Activity Index for Manufacturing in Texas remained in contraction territory for the 12th straight month in March. The regional central bank’s index clocked in at -15.7 this month, down from 13.5 in February, with the results suggesting broader business conditions are poised to deteriorate. Here is a […]
U.S. small banks suffer record deposit drop after SVB, Signature failures: Fed data
Are Americans waving goodbye to small banks? In the aftermath of the Silicon Valley Bank and Signature Bank failures and the U.S. government signaling that it would only come to the rescue of the big banks and well-connected institutions, depositors are right to be concerned. According to new data from the Federal Reserve, bank customers […]