Incomes and outlays improved to start the second quarter of this year according to the Bureau of Economic Analysis. Personal income rose 0.3 percent in April 2018, and spending jumped 0.6 percent. Disposable personal income (DPI), aka after-tax pay, rose 0.4 percent or $60.9 billion, leading to some decay in the nation’s savings rate.
Long ago I was told the tale of an ancient shaman who, approached by a woman who seemed incapable of bearing a child, suggested she sleep with her husband on a lion’s hide. Lo and behold she gave birth shortly thereafter to a son. A curious friend who also was barren asked her what caused the miracle. Thereupon she too visited the shaman, was given a tiger’s hide,
America’s output of physically made goods improved in February 2018 according to the Federal Reserve. Rising 1.1 percent, Industrial Production made up for all the downwardly revised decline of 0.3 percent (originally minus 0.1 percent) in January. Year-over-year, this cyclically sensitive indicator increased 4.4 percent.
America’s central bank increased the overnight interest rate (called the Fed Funds Rate) on Wednesday. This is the Federal Reserve’s sixth hike since they began raising rates in December 2015. At the time, Janet Yellen led the institution; four subsequent increases happened under her watch. On February 5, 2018, Jerome Powell assumed the office, and he now has his f
Hints of inflation are wafting through the economy per data from the Bureau of Labor Statistics. Their widely-watched Consumer Price Index (CPI) jumped 0.5 percent to start this year. January’s year-over-year statistic posted 2.1 percent, matching December’s tally. Core-CPI (excluding food and energy) managed an uptick of 0.3 percent to start 2018, and its year-ove