The US government will “go de facto bankrupt” unless it reins in its rising debt, Elon Musk has warned. The billionaire is set to co-lead a new department tasked with curbing spending under President-elect Donald […]
A hot question for an iffy situation. So here are the holders as of Q3. By Wolf Richter for WOLF STREET: The US national debt keeps ballooning at an amazing rate and has now reached $36.16 trillion. These […]
Payrolls & wages jump, prior 2 months revised higher, solid bounce-back from Hurricanes and Boeing strike. 3-month average payrolls +173,000! By Wolf Richter for WOLF STREET. Payrolls jumped by 227,000 in November from October, and the prior two […]
Quantitative Tightening shed 43% of the assets the Fed had added during pandemic QE. Bank-panic facility BTFP is vanishing. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet dropped by $98 billion in November, […]
QE was a huge gravy train for taxpayers. But then came the hangover. By Wolf Richter for WOLF STREET. The Fed released its financial report for the third quarter on Friday afternoon. The two items we pay attention […]
Amid renewed inflation worries and above-average economic growth. By Wolf Richter for WOLF STREET. The Dollar Index [DXY] which tracks the USD against a basket of six currencies (euro, yen, Canadian dollar, British pound, Swedish krona, and Swiss […]
Americans far from “tapped out.” Credit card delinquency rate dips to 3.2% (Fed), “prime” delinquency rate 0.99% (Fitch), “subprime” gets over free-money hangover. By Wolf Richter for WOLF STREET: The Federal Reserve today released the delinquency rates for […]
By Wolf Richter for WOLF STREET. Another milestone in the Fed’s QT program: Total assets on the Fed’s balance sheet dropped to $6.99 trillion, according to the Fed’s weekly balance sheet today. The balance sheet first reached this […]
“The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance.” By Wolf Richter for WOLF STREET. FOMC members voted unanimously today to cut the Fed’s five policy rates by 25 basis […]
By Wolf Richter for WOLF STREET. When the Fed cut its policy rates on September 18, it looked at labor market data showing a sudden slowdown of job creation to weak levels, and it looked at decent consumer […]
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