After a brief bounce in April, the Empire State Manufacturing index plunged deep into contraction territory in May.
Author: John Carney
Breitbart Business Digest: The Fed Fires a Warning Shot at Wall Street
The Federal Reserve fired a shot across the bow of market complacency on interest rates.
Fed Official Warns More Hikes May Be Needed Because Inflation Is Still Too High
Bowman says that “additional monetary policy tightening will likely be appropriate” if inflation continues to run high.
Stagflation Alarm: Consumer Sentiment Crashes, Hope Plunges, Long Run Inflation Fears Rise
Consumer sentiment unexpectedly plunged and long-run expectations for inflation jumped up.
Breitbart Business Digest: The Yield Curve Hints That a Debt Limit Accident Is Possible
The yield curve on very short-term debt issued by the U.S. government is deeply inverted. Could this signal concerns about the debt ceiling?
Producer Prices Rose Again in April
The index, which measures what domestic businesses are paid for goods and services, rose by 0.2 percent in April. In March, the index fell 0.5 percent.
Jobless Claims Jump to Highest Level Since 2021
The Department of Labor said initial jobless claims rose by 22,000 to a seasonally adjusted 264,000 last week.
Nearly Half of Americans Say We Should Not Raise the Debt Ceiling
Seventy-five percent of Republican voters say the debt limit should not be lifted.
Inflation Dips Below Five Percent for First Time in Nearly Two Years
Economists had forecast inflation to be up 5 percent from a year ago.
Breitbart Business Digest: Powell Wins the Fed Unpopularity Contest
Every unpopular Federal Reserve chairman is unpopular in his own way.