President Joe Biden is proclaiming to every media network that his 2024 budget reduces the deficit is a myth. This does not happen at all. In fact, he actually adds $3 trillion to the decade-long deficits. In the 2023 budget, Biden projected that there would be nearly $14 trillion worth of cumulative deficits by 2033. […]
Archives for March 2023
‘Head fake’: Don’t believe the three-month high initial jobless claims
The number of Americans filing for unemployment benefits climbed to 211,000 in the week ending March 4, up from 190,000. This was also higher than market estimates of 195,000. Does this mean the Federal Reserve’s tightening is working and finally slowing down the labor market? Not quite. In fact, market experts say not to buy […]
Watch: Federal Reserve Vice Chair to talk cryptocurrencies at PIIE event
How will the Federal Reserve crack down on cryptocurrencies? Fed Vice Chair Michael S. Barr will appear at a PIIE event to talk cryptos. Here is the link to the video:
Markets now expecting 50-basis-point rate hike at March FOMC meeting
What a difference a week can make. Following this week’s testimony on Capitol Hill from Federal Reserve Chair Jerome Powell, the financial market is now penciling in a larger-than-expected rate hike at this month’s Federal Open Market Committee (FOMC) policy meeting. Investors are expecting a 50-basis-point increase in the benchmark federal funds rate (FFR). Just […]
Yield curve – chief recession indicator – inverts 108 basis points following Jerome Powell hearing
One of the chief recession indicators plummeted to triple-digit negative territory in the middle of the trading week. The popular spread between the two- and ten-year Treasury yields declined to -108 basis points on Wednesday, the lowest level since September 1981. The two-year yield climbed above five percent, while the ten-year yield was below 3.97 […]