Daily Brief: GDP Surges 3.4% But Inflation Holds Firm — The Fed’s Boxed In
Q3 GDP blew past expectations at 3.4%, but September PCE inflation accelerated to 3.6%. A day after the Fed held rates, the data confirms: no cuts...
Daily Brief: GDP Revised to 2.2% — Q2 Economy Was Stronger Than Anyone Thought
GDP revised up 0.7pp to 2.2% as PCE inflation cools to 3.4% YoY. Consumer spending surges 0.6% but monthly inflation ticks higher. The soft landing...
Daily Brief: Corporate Profits Surge $400.9B as GDP Holds at a Tepid 1.5%
Q2 GDP held at 1.5%, but corporate profits surged $400.9B and inflation was revised up to 5.3% — a tricky setup for Warsh at Jackson Hole.
Daily Brief: GDP Slides to 1.5% as PCE Inflation Cools — Hawkish Fed Dissenters Are Running Out of Arguments
Q2 GDP missed expectations at 1.5%, but PCE prices fell for the first time in months and equipment investment held strong. Plus: the 9-3 FOMC vote that...
Daily Brief: Trade Deficit Widens to $105.8B as AI Imports Surge, Services Employment Rebounds
The U.S. goods trade deficit surged 27% to $105.8B on AI-related imports. ISM Services employment rebounds from contraction. Dow tops 53,000. Inflation...
BEA: PCE Price Index
The BEA released the PCE Price Index this morning and is shows improvement and disappointment. While overall PCE year-over-year has declined, core PCE has come in hotter than expected. The…
BEA: CPE May 2024
The BEA released the Fed’s preferred inflation measure today CPE and it shows no improvement month over month. From the BEA: Personal income income increased $114.1 billion (0.5 percent at…
BEA: PCE April 2024
The BEA released the Personal Income & Outlays for April 2024 and it shows PCE, the Fed’s preferred inflation measure, as still elevated. From the BEA: The PCE price index…
BEA: PCE March 2024
The BEA released the March 2024 PCE report today and it shows core inflation higher than last year. From the BEA: Personal income increased $122.0 billion (0.5 percent at a…
BEA: Core PCE January 2024
The BEA released the Fed’s preferred measure of inflation today, the Core PCE. Let’s take a gander: Personal income increased $233.7 billion (1.0 percent at a monthly rate) in January,…