PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Fact of the Week

September 9th, 2022 by

by Raymond J. Keating – Consumer credit continued to grow strongly in July, according to the latest data from the Federal Reserve. Total consumer credit grew at annual rate of 6.2 percent in July. That came after growth of 10.2 percent in June and 6.2 percent in May. Nonrevolving credit (e.g., “motor vehicle loans and […]

August 26th, 2022 by

by Raymond J. Keating – Given that the Consumer Price Index report had shown that CPI inflation was flat in July, it was expected that the July personal income report would offer a breather from bad news related to inflation going back to early last year. In July 2022, the personal consumption expenditures (PCE) index […]

August 22nd, 2022 by

by Raymond J. Keating – Just how “good” is the jobs market? It’s noted in the latest U.S. Bureau of Labor Statistics report on “State Employment and Unemployment” that in July 2022 compared to the previous month, “Nonfarm payroll employment increased in 20 states, decreased in 2 states, and was essentially unchanged in 28 states […]

August 16th, 2022 by

by Raymond J. Keating – The Census Bureau has reported that housing starts took a dive in July, with permits not faring well either. In fact, after having a nice run during the pandemic economy, housing starts have now fallen back to below their pre-pandemic level: ● Housing starts (at a seasonally adjusted annual rate) […]

July 13th, 2022 by

by Raymond J. Keating – Perhaps you thought that inflation could not get any worse than the Consumer Price Index data we saw for May 2022? Well, if so, you were wrong. CPI inflation actually got worse in June, according to the latest report from the U.S. Bureau of Labor Statistics. After jumping by 1.0 […]

July 6th, 2022 by

The Best and Worst Performing States by Raymond J. Keating – It goes without saying that the pandemic has generated severe woes across the U.S. and around the world. Looking at real GDP numbers (annualized seasonally adjusted data), the U.S. economy in the first quarter of 2022 stood at only 2.7 percent higher than where […]

June 30th, 2022 by

by Raymond J. Keating – The latest personal income report from the U.S. Bureau of Economic Analysis provides another stark reminder of how brutal the inflation tax is. The headline says that personal income grew by 0.5 percent in May. That’s great until we take inflation into account. The personal income report’s inflation measure – […]

June 23rd, 2022 by

Once inflation is factored in, gains turned into declines. by Raymond J. Keating – The U.S. Bureau of Economic Analysis has served up its latest report on state personal income, with annualized percent changes in the first quarter ranging from 8.5 percent in South Dakota down to 1.3 percent in Hawaii. Unfortunately, these numbers are […]

June 10th, 2022 by

by Raymond J. Keating – Inflation spiked once again in May, according to the Bureau of Labor Statistics latest report on the Consumer Price Index. Inflation has been raging since the start of 2021. In April, CPI inflation had slowed some, rising by 0.3 percent. That, of course, is still too high, but compared to […]

June 2nd, 2022 by

 by Raymond J. Keating – The latest edition of the Federal Reserve’s Beige Book was released on June 1, offering clues on the economy from interviews with various Fed contacts. Based on information gathered on or before May 23, it was noted that “a majority” of Fed districts indicated “slight or modest growth,” with four […]

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