So, are U.S. consumers getting any relief from the price of eggs? Not yet. The average price of eggs is approaching $5 nationwide, according to the Bureau of Labor Statistics (BLS). Here is a chart of egg prices over the last year: Geez. Can consumers catch a break from anything in the national economy? Not […]
Money
Peak inflation or disinflation? Cleveland Fed Nowcast points to elevated inflation
The latest narrative on Wall Street is that inflation might not have peaked yet. Or, at the very least, the disinflation trend may be put on ice for the time being. With a couple of weeks until the much-anticipated February consumer price index (CPI) and personal consumption expenditures (PCE) price index, there is a look […]
Is ESG dying? Vanguard the latest company to ditch woke investing
Is ESG dying? From state governments to financial institutions, the list of entities abandoning the woke measurement is increasing. You can add Vanguard to the chorus of banks ditching the environmental, social and governance (ESG) initiative. Tim Buckley, the CEO of Vanguard, told the Financial Times: “Our research indicates that ESG investing does not have […]
U.S. consumers losing confidence again in the Biden economy: CB
Americans are losing confidence in President Joe Biden’s economy as inflation continues to outpace wages. The Conference Board Consumer Confidence Index (CCI) fell for the second consecutive month, coming in at 102.9 in February, down from a downwardly revision of 106.0 in January. The Present Situation Index edged up to 152.8, while the Expectations Index […]
Iraq ditching U.S. dollars for Chinese yuan in trade with Beijing
You can add Iraq to the list of countries at least considering dumping the U.S. dollar for the Chinese yuan. Iraq’s central bank is poised to permit trade with China to be settled in yuan rather than dollars, Reuters reported. The Iraqi central bank announced last week that it intends to allow transactions in the […]