The Keynesian economists and the monetarists at the Fed are singing a happy tune today as retail sales bounced 0.6 percent vs the Econoday consensus estimate of 0.3%.
The revisions help explain 2nd quarter GDP numbers, but now economists will likely revise the second quarter up.auto consumer ex June quarter report Retail revision sales upward
Fed Chair Janet Yellen keeps citing consumer confidence and jobs as reasons consumer spending and inflation will pick up.
Curiously, the New York Fed Survey on Consumer Spending Expectations keeps trending lower and lower, despite survey-high expectations for wage growth.Chair consumer expectations Fed lower projections report spending survey trending
Here’s one that came my way earlier today although the report was from January: New York Fed Chief Dudley has an Idea — Homeowners Should Tap Into Equity.
New York Fed President William Dudley on Tuesday encouraged homeowners to find “prudent” ways to tap into the equity that has built up in the homes, saying the boost in consumption would be a welcome shot-in-the-arm to the economy.Dudley economy equity Fed home homeowners housing President tap York
Ian Narev, the CEO of Commonwealth Bank of Australia (CBA), the nation’s largest bank is set to step down amid money laundering charges.
Commonwealth Bank of Australia Chief Executive Officer Ian Narev will step down by the end of June 2018 as the nation’s largest lender seeks to mitigate the fallout from a money-laundering scandal.allegations Australia bank CBA CEO Commonwealth Bank money laundering Narev nation scandal
Dear President Trump, forgive my harsh language, but since you and your staff can use harsh language, why can’t anyone else?
Dear President Trump, here are some additional questions that I am sure are on the minds of nearly everyone familiar with the story.answer building business Dear harsh language nation President Trump Venezuela
The CPI rose 0.1% in July vs an Econoday consensus estimate of 0.2%. On the plus side, apparel prices, which had been on a long negative streak, rose 0.3 percent though the year-on-year rate remains in the negative camp at minus 0.4 percent.Econoday estimate falling July negative On rate remain report year
New York Fed President, William Dudley, says 2% inflation target will remain elusive even if price pressures pick up.
Inflation is not likely to reach the Federal Reserve’s 2% annual target this year even if monthly data begins to pick up as expected, said William Dudley, president of the New York Fed, on Thursday.Dudley elusive factors Fed hit inflation President transitory William York
The BLS report on preliminary Productivity and Costs, Second Quarter 2017 shows nonfarm business productivity increased 0.9 percent during the second quarter of 2017. Rather, the BLS uses Owners Equivalent Rent (OER) as a substitute for home prices.data home hours hours worked inflation measurement productivity quarter report Understated