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Monthly Archives: May 2023
ECRI: Fed not cutting despite bad things happening
The Fed’s inflation outlook is “totally disconnected from what the market wants,” @businesscycle Co-Founder Lakshman Achuthan, alongside @SPGlobal’s Paul Gruenwald. “The market is looking for a [rate] pause or a cut, and that is just not in the cards.” (Too … Continue reading
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Outlook sours on tight credit and fewer loans
The May 2023 Dallas Fed bank credit survey results were just released, and the data is recessionary. It’s not just consumer credit that’s in decline. Commercial and industrial loans have contracted at a 14% annualized pace since mid-March and loans … Continue reading
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Stressed consumers pulling back
The segment below offers a good big-picture overview of the interplay between incomes, consumer spending, economic growth and home prices. Canadian data looks worse than the US, but, so far, Canadian banks have allowed negative amortization to compound principal higher … Continue reading
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