Outstanding credit card debt has declined from pre-pandemic levels. This was likely due to a lack of spending options during quarantines. The most recent quarter's decline is probably due to consumers being more cautious as the markets turned south.
Mortgage originations slowed markedly in the first quarter.
Some interesting charts from our recent posts.
Last week we raised concerns that declining liquidity across markets could be a sign that the Fed is already close to breaking something. Ahead of the Fed's planned balance sheet runoff, they have warned that liquidity is indeed an issue.
Today's topics include how fast will inflation fall?, potential GDP, return-to-office rebellion, the credit market's rout, renting vs. buying, home equity hotspots, the retail trader is no longer buying the dip, doubting tech, Hong Kong defends its currency, and down goes crypto
CPI came in higher than expectations again. Car prices did not fall as much as expected. Wage growth is not keeping pace with inflation.
Today's topics include Dudley on the neutral rate, analysts cutting price targets, utility bills on the rise, global inflation, chances of a soft landing, household debt ballooning, Waller comments, arguing against bond bulls, trouble in China, Terra breaks the peg, and on bitcoin
Former Fed officials are criticizing current Fed policy to a degree and veracity not seen since the 1970s. Are they quietly saying what current Fed officials cannot?
Car prices account for 9.2% of CPI. A peak in car prices is being heralded by many as a sign that inflation is peaking. While inflation may be heading lower this month, real-time measures of car prices show the market is not slowing to the degree many believe.
Today's topics include financial stability, the yield curve as a recession signal, Williams makes the case for a soft landing, Cathie Wood back to square one, tech valuations, the real funds rate, record gas prices, China's lockdowns, and yesterday's wild ride in cryptoland