Econ70
The Friday file: Hanukkah starts Sunday night, last year it began on Christmas day. It starts on different days on the Gregorian calendar but always starts on the 25th of Kislev in the Hebrew calendar. The reason it varies is…
Netflix or Paramount, who should get Warner? Money is no object for either bidder. If Netflix, the #1 streaming service buys the #4 streaming service, that’s somewhat troubling. But so is the fact that Paramount’s bid, which would combine the…
Unsurprisingly, the Fed lowered rates by 25bps because ongoing labor market deterioration concerns more members of the Fed than the elevated inflation levels. Despite heated rhetoric about strong reluctance to cut more, like what was said in October, they’ll cut…
On 11/12/25, the last US penny was minted. The Mint reported $85.3 million lost on the nearly 3.2 billion pennies it produced at a cost of 3.69 cents each. The present value of the savings to taxpayers is $2.1 billion.…
Core PCE, the Fed’s favorite inflation measure, was 2.8% Y-o-Y in September (yes September), down from August’s 2.9%. Better yet, core PCE came in at 0.2% M-o-M for the fourth time in five months. The three-month trend is running at…
The Friday File: I’m sure you will be thrilled to know that the number of global billionaires now totals 2,900, a rise of 287 from last year, the second biggest jump ever. Their collective wealth is now $15.8 trillion, up…
Don’t be fooled by the initial jobless claims data, because companies are reducing employment without layoffs. Businesses are closing positions that become vacant. So, while there may not be a “firing cycle,” there is indeed an “attrition cycle” amongst us.…
Import prices are where at least some tariff impacts would manifest themselves. Yet M-o-M September import inflation was 0.0%, August was a miniscule 0.1%, and July was 0.3%, it appears to be declining. Additionally, Y-o-Y import inflation is a benign…
October existing home sales were 4.1 million annualized units, essentially unchanged from September’s 4.05 million units. For some perspective, this is the same activity level that prevailed in 10/08, during the middle of the Housing Bust and a month after…
With the government now operating, we are getting waves of data. Weekly first-time claims for unemployment insurance are now in and the news is excellent. Initial jobless claims fell to 216,000 for the week of 11/22/25, their lowest since the…