(WO) – The Independent Petroleum Association of America (IPAA) issued the following statement in response to President Biden’s FY 2025 Budget that would repeal many long-standing oil and natural gas tax provisions. IPAA President & […]
In 2024, some banks will fail. In 2023, five banks failed. In 1989, over 500 banks failed. Since 1936, there were only 5 years without bank failures. By Wolf Richter for WOLF STREET. The rate-cut-mania-inspired plunge in longer-term yields […]
Gold prices rose by nearly 1.5% to a two-month high on Friday as disappointing US factory data and a drop in consumer sentiment reinforced bets on the possibility of interest rate cuts later in […]
Core services inflation dished up bad head fakes last time we had this mess in 1966-1982. Mention of a rate hike crops up in a Fed speech. By Wolf Richter for WOLF STREET. Over the past year or […]
This year’s Berkshire Hathaway investor letter should be sobering for US electric utility investors. Mr. Buffett discusses two reasons why he appears to have soured on the business prospects for US-regulated electric utilities. Buffett recognizes […]
Goldman Sachs Group Inc. Chief Executive Officer David Solomon said softer spending by consumers calls into question expectations that the US economy will avoid a recession. “The world is set up for a soft landing,” Solomon said at […]
Election year in the US with hysteria growing by the day about a more strident China has seen the White House take action over a perceived threat at its ports. President Joe Biden yesterday signed […]
Reheating services inflation isn’t a surprise. But the PPI for finished core goods saps hopes for goods “deflation” to continue to hold down overall inflation. By Wolf Richter for WOLF STREET. The Producer Price Index for final demand […]
By Wolf Richter for WOLF STREET. We’ll start with the “core services” CPI (services minus energy services) because this is so crucial, and because Powell keeps talking about it. We have been concerned here for months about the refusal […]
Liabilities held by the public could exceed the country’s annual output as early as next year, according to the Congressional Budget Office US debt held by the public is expected to hit an all-time high […]
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