ENB Pub Note
Is the U.S. Facing a Debt Crisis?
ENB Pub Note: Yes, the US is in a debt crisis caused by the Republicans and Democrats. It will be tough to unwind the deliberate take down of the United States, and I believe we […]
U.S Market
Crypto
Trump Goes All in on Crypto
The U.S. president has embraced digital currencies after years of skepticism. By Rishi Iyengar, a reporter at Foreign Policy. David Sacks, U.S. President Donald Trump’s AI and crypto czar, speaks to Trump as he signs […]
Finance
Federal Government Layoffs & Quits Begin to Show up in the Jobs Data, Barely Dent Solid Labor Market
Civilian employment at the federal government accounts for less than 1.9% of total payrolls. By Wolf Richter for WOLF STREET. Because it has been the topic in the news for weeks, we’ll talk about civilian employment at the […]
Finance
Is This the Beginning of the Second Wave of Inflation?
Companies can’t pass on those higher prices? What a bummer. But if they can without losing sales, it’s off to the races. See 2021/2022. By Wolf Richter for WOLF STREET. Nearly every subindex of today’s ISM Services PMI […]
International News
Trump Can Make a Deal to Save America’s Auto Industry
Beijing’s capture of global markets offers a U.S. road map. By Charles Yang, the executive director of the Center for Industrial Strategy. The U.S. auto manufacturing industry is facing a crisis. A flood of high-quality, […]
Finance
Trump’s trade war steps up a gear
US president Donald Trump’s new round of tariffs against his country’s top three trading partners has sparked retaliatory action, launching new trade conflicts. On Tuesday, Trump imposed 25% tariffs on Mexican and Canadian imports, as […]
Bankruptcy
FDIC Ends Disclosing Total Assets of Banks on “Problem Bank List,” as Disclosure Might Suddenly Trigger a “Disorderly Run”
Are disclosures of “unrealized losses” on bank balance sheets next? By Wolf Richter for WOLF STREET. Acting Chairman of the FDIC Board of Directors, Travis Hill, who was sworn in as FDIC Vice Chairman on January 5, released […]
Finance
Musk’s DOGE claims multi-trillion gap in US government spending
Some $4.7 trillion in federal payments remained untraceable, as the Treasury did not enforce a tracking code Elon Musk’s Department of Government Efficiency (DOGE) claims has uncovered a massive gap of nearly $5 trillion in […]
Finance
Huge Upward Adjustment to Employment and Labor Force as Wave of Immigrants is Finally Included, Unemployment Drops, Wage Growth Accelerates: The Annual Revisions Are Here
The Fed, after complaining about missing immigrants in labor market data, now has further support for its pivot to wait-and-see. By Wolf Richter for WOLF STREET. We’ve been discussing this issue – and its impact on employment data […]
Finance
Why Is the President, Not Congress, in Charge of Tariffs?
U.S. President Donald Trump, who once called himself a “tariff man,” is making clear that his love of import duties is more than words on a social media post. The announcement last week that […]