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Waller: If rate hikes cause instability, Fed has other tools
*WALLER: IF RATE HIKES CAUSE INSTABILITY, FED HAS OTHER TOOLS
— zerohedge (@zerohedge) November 7, 2023
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WALLER: 'WE DON'T GET ANY DATA' IF GOVERNMENT SHUTS DOWN
— *Walter Bloomberg (@DeItaone) November 7, 2023
WALLER: INCREASING DEMAND FOR REAL-TIME ECONOMIC DATA
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WALLER: WHAT PEOPLE HAVE IN MIND NOW IS FOR PRICES TO RETURN TO EARLIER LEVELS, AND "THAT IS NOT GOING TO HAPPEN"
— *Walter Bloomberg (@DeItaone) November 7, 2023
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Thank you, Katrina, for inviting me here today.1 As I hope you all know, the Federal Reserve uses monetary policy to achieve its dual mandate of maximum employment and price stability. One of my key roles as a policymaker is to help determine what stance of policy will move the economy closer to that reality. To do that, I need to try to understand where the economy stands and where it is headed. And to do that, I look at a variety of economic and financial data. I have a team of advisers who help me compile and analyze data. But you don't need your own team of economists to get a good idea of what's happening in the U.S. economy. The staff here at the Federal Reserve Bank of St. Louis has created an easy-to-use interactive tool that brings economic data to your fingertips. FRED (Federal Reserve Economic Data) allows the public to access, plot, and analyze thousands of economic data series. I often use FRED myself when I want to look up current and historical data. In fact, I thought for today's talk, I could use FRED to show some of the data series I consult when thinking about the economy. I'll start with some slides on economic activity and then move on to the labor market and inflation. I'll tell you how I am interpreting these data, what they have meant for policy to date, and offer a few caveats we should all keep in mind when using data. I will not be discussing my expectations for future monetary policy. post: FED'S WALLER DOES NOT COMMENT ON MONETARY POLICY OUTLOOK IN PREPARED REMARKS ON ECONOMIC DATA #News #Markets #ECONOMIC #live
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The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The Report shows total household debt increased by $228 billion (1.3%) in the third quarter of 2023, to $17.29 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel. Mortgage balances rose by $126 billion from the previous quarter and stood at $12.14 trillion at the end of September. Credit card balances increased by $48 billion to $1.08 trillion in Q3 2023, representing a 4.7% quarterly increase. Auto loan balances rose by $13 billion, consistent with the upward trajectory seen since 2011, and now stand at $1.6 trillion. Student loan balances increased by $30 billion and now stand at $1.6 trillion. Other balances, which include retail cards and other consumer loans, increased by $2 billion. Mortgage originations modestly declined to $386 billion in Q3 2023 and are well below the robust quarterly origination volumes observed between 2020 and 2021. The volume of newly originated auto loans, which includes leases, slightly increased and now stands at $179.3 billion. Aggregate limits on credit card accounts increased by $113 billion, a 2.46% increase from the previous quarter. Aggregate delinquency rates increased in Q3 2023, with 3% of outstanding debt in some stage of delinquency at the end of September. Delinquency transition rates increased for most debt types except student loans and home equity lines of credit. The increases in credit card delinquency were the sharpest among borrower post: NY FED: TOTAL US HOUSEHOLD DEBT CLIMBS 1.3% TO $17.29 TRILLION IN THIRD QUARTER NY FED: TOTAL MORTGAGE BALANCES CLIMB $126B TO $12.14 TRILLION IN THIRD QUARTER post: NY FED: THIRD-QUARTER AGGREGATE DELINQUENCY RATES CLIMB BY 3% NY FED: CREDIT CARD DELINQUENCY RATE CLIMB ELEVATED AMONG YOUNGER AMERICANS post: NY FED: THIRD-QUARTER AUTO LOANS UP BY $13B TO $1.6 TRILLION NY FED: THIRD-QUARTER MORTGAGE ORIGINATION LEVELS EBB TO $386B
Today We’re going to talk about the Average True Range, and why it might be a good idea to start using it. To use indicators or not to use indicators? This question refers to the ...
Pity anybody who ever had to work for Ray Dalio. That's the main message of "The Fund," Rob Copeland's definitive history of Bridgewater, the hedge fund that was founded by Dalio ...
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- Posted: Nov 7, 2023 10:49am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,987
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