Month: August 2026

Weekly first-time claims for unemployment fell 22,000, the biggest decline in three months, to a seasonally adjusted 187,000, the lowest level of new applications since September 1969. While the drop was probably due to some quirks, the consistently low level…

New central bankers tend to make mistakes; Warsh made his first on Wednesday. His decision not to raise rates, after steadily talking tough about inflation and price stability, pushed long-term Treasury yields to multidecade highs. This is because bond markets…