March 28, 2024

Breitbart Business Digest: Jerome Powell Plays Rate Cut Santa Claus

This Is What It Sounds Like When Doves Laugh “It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance, or to speculate on when policy might ease.” Fed Chairman Jerome Powell spoke those words on December 1 at a fireside chat at Spelman College. The markets rejected that idea

Breitbart Business Digest: Is Improved Consumer Sentiment All About Democrats Hating Trump?

The Shaky Edifice of Improved Consumer Confidence Americans are feeling better about the economy than they have in years. Or at least Democrats are. Consumer confidence—as measured by the Conference Board’s monthly survey—surged to a two-year high in January, the third straight monthly increase. The assessment of current economic conditions soared to the best reading

Breitbart Business Digest: Wall Street Expects More Cuts Than the Fed Does

Wall Street Is a Haven for Doves Wall Street has not let go of its conviction that the Federal Reserve will cut interest rates next year. When Federal Reserve officials met last month, their Summary of Economic Projections showed a median expectation for the target rate to be 5.6 percent at the end of this

Breitbart Business Digest: What the Jobs Report Means for 2024

A Choose Your Own Adventure Jobs Report The conventional wisdom about Friday’s disappointing jobs data was that there was a little something for everyone. And, for once, the conventional wisdom is right. The headline jobs number fell below Wall Street’s expectations, suggesting a softening of the labor market. The average workweek slipped as well, which

Breitbart Business Digest: Declining Job Openings May Help Bring Down Inflation

A Soothing JOLTS The doves got everything they could have wished for out of the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. Job openings fell to 8.827 million in the August report, which estimates vacancies as of the last business day of July. This is the first time openings have fallen below 9

Breitbart Business Digest: Can Republicans Meet the UAW Strike Challenge?

A Choice Not an Echo on the UAW Strike Think of tonight’s debate as test of whether the GOP will offer the American people a choice for which party can defend workers best or an echo of a misremembered past. The Republican Party has talked a very good game in recent years about representing the

Breitbart Business Digest: Powell’s Jackson Hole Speech Gives a Whiff of a Clash with Biden White House

From J-Hole to the Fox Holes There’s a clash coming between the Federal Reserve and the Biden administration. President Joe Biden has been touting what he says are the accomplishments of “Bidenomics.” He has claimed credit for inflation coming down, the strength of the jobs market, and investment in domestic manufacturing and infrastructure. He celebrates

Breitbart Business Digest: The Recession Will Have to Wait Till Next Year

Wait Till Next Year The most heralded recession in American history will probably not arrive until next year. The U.S. economy is turning out to be far more resilient in the face of the Fed’s aggressive rate hikes than most analysts had projected. What’s more, several of the big risks that were threatening to drag

Breitbart Business Digest: The Case Against Recession Is Building

Some Constructive Criticism of the Recessionista Thesis “The house don’t fall when the bones are good,” we are instructed by that sage of Arlington, Texas, and Nashville, Tennessee, Marin Morris. The bones of the U.S. economy are looking good as we hurtle toward the warming months, which means the house of the U.S. economy is

Breitbart Business Digest: The Fed’s 2023 Map Is Not the Territory

iStock/Getty Images The Federal Reserve plotted a course for next year that includes sluggish growth, declining yet persistently high inflation, and at least a few more interest rate hikes. It’s a good idea to study this Fed map closely, but it is also prudent to remember that the map is not the territory. The Fed

Breitbart Business Digest: A Bad Day to Be a Billionaire Oligarch Savior of Humanity

Are you sitting down? The economy might be in a recession. It was not a great day to be a billionaire oligarch savior of humanity. FTX’s Sam Bankman-Fried’s humiliation continued. It was reported that he lent himself $1 billion through his hedge fund; he cashed out $3srcsrc million last year and told investors it was a partial reimbursement, and

Breitbart Business Digest: Woke Capitalism Is Alienating Republicans

President Joe Biden said on Monday that the American people should have confidence that “we’re on the right track” and that we are “seeing real progress” in the fight against inflation. The Federal Reserve Bank of New York’s latest survey indicates that Americans actually are pretty confident that we have seen the worst of inflation.

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