The great deposit migration and emergency borrowing at the Fed discount window
In the past week alone, the Federal Reserve's loans outstanding to the financial system have ballooned to about $318 billion, up from $15 billion a week ago.
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Initial jobless claims spike to highest level since December
New claims for jobless benefits last week came in hotter than expected at 211,000, significantly higher than the 190,000 of the previous week.
January’s spending shows a hot economy despite rate hikes
The Fed’s key gauge of inflation—the personal consumption expenditures deflator—rose by 0.6% on the month for both the top-line and the core numbers, bringing the year-over-year inflation to 5.4% and 4.7% for the two series, respectively.
The debt ceiling stand-off: Frequently asked questions
What exactly is the debt ceiling, and other frequently asked questions.
What would happen if the government defaults on its debt?
Policy brinksmanship over lifting the debt ceiling and the threat of default it brings is increasing the cost of doing business and carries far more risk than is commonly acknowledged.
U.S. inventories are growing at twice the rate of sales
The surge in inventories raises the risk that firms will be caught with excess supplies just as demand begins to slow down this year.
Retail sales post strong gains in January, though it may not last
Sales increased by 3.0% on the month and by 2.3% if automobiles are excluded, according to the U.S. Census Bureau.
Rising interest payments, deficits and the debt ceiling crisis
The mounting stand-off over raising the federal government’s debt ceiling has put a renewed focus on the rising cost of financing the nation’s debt.
4 areas of focus for financial institutions in early 2023
Despite the lift in financial institutions" net interest margins from unprecedented rate hikes, the headwinds facing the industry through declining macroeconomic conditions are creating unique downside risks for the nation’s banking system.
Fed hikes rates by 25 basis points as it approaches peak
The central bank hiked its policy rate by 25 basis points to a range between 4.5% and 4.75%, its eighth straight increase, though lower than the recent hikes.
Job openings rise again in December, adding to pressure on the Fed
The number of job vacancies jumped to 11 million in December from 10.4 million.
Labor costs slow, setting the stage for smaller Fed rate hike
The index showed that labor cost growth fell to 1.0% on a quarterly basis, and to 5.1% on a year-ago basis for all workers, according to the Bureau of Labor Statistics’ Employment Cost Index released on Tuesday.
Shipping costs from China plunge, helping ease inflation
Shipping costs from Shanghai to American seaports reached a peak last January, decelerated during the first half of the year and have plunged since June.
U.S. retail sales and producer inflation fall as spending weakens
Retail sales and producer inflation data came in lower than expected in December, giving the Federal Reserve more reasons to begin to slow down its rate hikes.
U.S. inflation eases in December, supporting a moderation in Fed rate hikes
Top-line inflation declined by 0.1% on the month in December and increased by 6.5% on an annual basis.
Jobs report preview: Strong close to year as wages remain elevated
We expect the December U.S. jobs report on Friday to show an increase in total employment of 220,000 positions.