The Bureau of Economic Analysis (BEA) published its final estimate of the third-quarter gross domestic product (GDP). In the July-to-October period, the U.S. economy grew 4.9 percent, down from the second estimate of 5.2 percent, and matching the advance estimate. What makes the BEA data interesting is that personal consumption was revised lower, contributing 2.11 […]
Archives for December 2023
China continues dumping U.S. debt, new Treasury data show
China is still reducing its holdings of U.S. government debt. According to new data from the Treasury Department, China trimmed its holdings of U.S. Treasury securities by $8.6 billion, totaling $769.6 billion. In total, foreign holdings fell by about $16 billion to $7.565 trillion. Here is a breakdown of what happened in October:
Department of Education: Only 60% of student loan borrowers have made payments
Well, this is not good. According to new data from the Department of Education, only 60 percent of borrowers made a payment by the middle of November after the pandemic-era pause was ended, and 22 million people were required to care for their responsibilities. In a blog post, the Education Department blamed it on former […]
MSNBC: Donald Trump will shut off the internet (uh, net neutrality?)
Not only will former President Donald Trump start shooting visitors to the White House, but he will also shut off the internet! This is the latest message from MSNBC, which has been on a tirade as of late warning about the worst things imaginable happening if Trump wins in 2024. But the latest message doesn’t […]
Watch: Federal Reserve Jerome Powell’s post-FOMC press conference
It should be fun to see how Federal Reserve Chair Jerome Powell skirts around the issue of cutting interest rates. Anyway, here is Powell’s post-FOMC press conference: