Is the U.S. in the middle of a credit crunch? The latest Federal Reserve G.19 data certainly suggests so. In May, total consumer credit rose by just $7.24 billion, down from a downwardly revised $20.32 billion. This was also way below the market estimate of $20.25 billion. Interestingly enough, this was the smallest monthly gain […]
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U.S. economy posts worst jobs report of Biden’s presidency
The U.S. economy just recorded the worst jobs report of President Joe Biden’s time in the White House. In June, the labor market added 209,000 new jobs, down from a downwardly revised 303,000 in May. This was below the consensus estimate of 225,000. The unemployment rate dipped to 3.6 percent, down from 3.7 percent. A […]
Wow! U.S. private sector added 497,000 new jobs in June, ADP data show
It is safe to say that the June non-farm payrolls report is going to be, as the kids say, lit. Why? A few employment reports were released on Thursday and they were astounding. The first was the ADP National Employment Report. It highlighted that the U.S. private sector created 497,000 new jobs in June, up […]
Bidenomics: Fourth of July cookout 15% more expensive under Biden than Trump
Ouch. As you enjoy your Fourth of July barbecue, it is hard to forget that this probably was one of the more expensive ones. According to a new analysis from the American Farm Bureau Federation (AFBF), families are paying 15 percent more for their Independence Day cookout under President Joe Biden than they did under […]
Tit for tat? US retaliates to Chinese export ban by proposing restricted access to Amazon, Microsoft cloud services
Is the U.S. government retaliating against China’s export ban on rare earth metals? According to The Wall Street Journal, the White House is considering a plan to restrict China’s access to cloud-computing services offered by Amazon and Microsoft. The newspaper reported that U.S. firms would need to obtain government permission before letting Chinese customers access […]