The financial markets are celebrating on Wednesday after the U.S. consumer price index (CPI) slowed to 5% in March, down from 6 percent in February. This also came in below the market estimate of 5.2% percent Inflation has not been this low since May 2021. The bad news? Core inflation, which strips the volatile food […]
Ouch: IMF lowers U.S. economic growth forecasts for 2023, 2024; warns of ‘stickier’ inflation
The International Monetary Fund (IMF) released its latest World Economic Outlook (WEO). The numbers pointed to slower global growth and revised lower from the previous WEO. In the U.S. economy, there is a threat of stagflation, with the real GDP growth rate slowing to 1.6 percent in 2023 and 1.1 percent in 2024, the IMF […]
The start of a credit crunch? Record percentage of U.S. households finding it harder to access credit
Has the credit crunch begun? According to the Federal Reserve Bank of New York’s (FRBNY) Survey of Consumer Expectations (SCE), the share of households reporting difficulty accessing credit surged to an all-time high. The outlook for credit access, with 58 percent of households anticipating it to be much or somewhat harder to obtain credit than […]
BNY Mellon, State Street Bank top list of uninsured deposits after SVB failure
It has been a month since Silicon Valley Bank, the home to tech bros, executives, and businesses, collapsed. Ditto for Signature Bank. The volume of uninsured deposits made these two financial institutions prone to failure. But what other banks maintain enormous amounts of uninsured deposits? Visual Capitalist’s Dorothy Neufeld and Sabrina Lam assessed the 30 […]
Federal Reserve money supply contracts for third straight month, falls 2.35% in February
The Federal Reserve’s money supply keeps contracting. Last month, the U.S. central bank’s M2 money supply contracted 2.35 percent, the third consecutive monthly decline. Here is the chart: For the first time it started sharing this data in the 1960s, the Fed witnessed its first contraction ever in December. Of course, this is a lagging […]