There’s a New Sheriff in Town The Federal Reserve surprised no one by holding its key rate, the fed funds rate, at 3.50–3.75%. But given the Fed’s full-throated rhetorical assault on inflation under newly installed Kevin Warsh, who took the helm from Jay Powell after...
The Latest on Inflation The latest Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics (BLS) provided investors with a modest sense of relief when it was released last Wednesday. According to the BLS, headline CPI rose 0.5% in May and is up 4.2%...
Hiring Ramps Up Well, that was a pleasant surprise. The US Bureau of Labor Statistics (BLS) reported that nonfarm payrolls rose by 172,000 in May, more than double the 80,000 economists had expected, according to a Wall Street Journal survey. On top of that, the most...
An AI Boost to Jobs “AI Is Erasing Entry-Level Jobs—and the Training That Comes with Them,” according to a January story from Forbes. That, at least, is the conventional wisdom. But does the conventional wisdom collide with reality? There may be some good news brewing...
A Profits Gusher S&P 500 corporate profits are surging in the first quarter, helping to push both the S&P 500 Index and the tech-heavy Nasdaq Composite to new highs this month. Let’s quickly run through the numbers. With 90% of S&P 500 companies having...
April Flowers: A Brighter Jobs Picture Following concerns early in the year, the job market appears to be re-awakening after April’s closely followed labor report. On Friday, the US Bureau of Labor Statistics (BLS) reported that nonfarm payroll rose by 115,000, more...
