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The Labor Market Stopped Cracking, and That Made a Rate Increase More Likely
Nonfarm payrolls rose 162,000 in August, and the two prior months were revised up rather than down: June by 11,000 and July
Daniel Whitmore
The Muni Tax Break Survived the Tax Bill. The Yield Curve Never Fully Recovered.
During last year's tax negotiations, ending the federal tax exemption on municipal bond interest was seriously discussed as a way to raise
Daniel Whitmore
Household Debt Shrank Last Quarter. Cards and Car Loans Went the Other Way.
Total US household debt fell to $18.8 trillion in the second quarter, down about $13 billion from the prior quarter, according to the
Daniel Whitmore
The AI Buildout Became an Electricity Story, and the Bill Is Being Split in Public
Washington State's utility regulator held a workshop last month on what to do about large power users, and it is drafting rules
Daniel Whitmore
Gold Is Far Below Its Record While Every Reason to Own It Got Louder
Spot gold traded near $4,380 an ounce at the start of September, down about 1.4% on the day and roughly a fifth
Daniel Whitmore
Tariffs Moved From Emergency Powers to the Statute Book, and That Changes Who Carries the Risk
On February 20 the Supreme Court held that the International Emergency Economic Powers Act does not authorize the president to impose tariffs, striking down
Daniel Whitmore
Payrolls Are Already Shrinking and the Fed May Still Hike Into It
The July employment report showed nonfarm payrolls falling by 23,000, and it revised the two prior months down by a combined 103,000.
Daniel Whitmore
Crude Rebuilt Its War Premium in a Week, and the Fed Has to Price It
Brent settled around $89 and West Texas Intermediate around $84 on August 31, after US forces struck Iranian launchers on Larak Island in the
Daniel Whitmore
The Long End Stopped Taking Orders From the Treasury Department
On August 17 the 30-year Treasury yield topped 5.31%, the highest level in 19 years and the highest since 2007. Two days
Daniel Whitmore
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