Posted on 02/15/2024 6:04:57 AM PST by Eccl 10:2
KEY POINTS
Advance retail sales declined 0.8% for January, down from a 0.4% gain in December and worse than the estimate for a 0.3% drop.
Sales at building materials and garden stores were especially weak, sliding 4.1%. Miscellaneous store sales fell 3% and motor vehicle parts and retailers saw a 1.7% decrease.
Also, initial claims for unemployment insurance totaled 212,000 for the week ended Feb. 10, a decline of 8,000 from the previous week’s upwardly revised total and below the estimate for 220,000.
(Excerpt) Read more at cnbc.com ...
“Futures market pricing is indicating the first rate cut will happen in June, with the Fed moving a total of four times, or a full percentage point, by the end of 2024.”
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Amazing, just in time for the election in November.
The “experts” have been forecasting rate cuts for many months—totally wrong.
Powell has been very clear on this point—he is not going to cut rates unless/until economic indicators crash and burn.
The “experts” are going to get 2024 wrong.
*DRINK*
Who is expecting better numbers?
Expected never fails to disappoint. Wins every time.
Media exist to guess what’s going to happen and then report on successful or unsuccessful guessing. There is actually no real news involved in the speculation process
“Powell has been very clear on this point—he is not going to cut rates unless/until economic indicators crash and burn.”
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I would like to believe that, but IMHO, the Fed and the Globalist Deep State are one. So ultimately the Fed will do what they are told.
I think the stock market will do very well between now and November.
Wont matter. By then things will begin to erode. This is the first salvo. The markets are meaningless when people are in debt up to their eyeballs and are using credit cards to buy groceries and pay bills…. And cant afford to pay it back.
The markets ever price that in? Of course not. The markets are just big companies moving money around amongst each other.
The rich are getting richer, and they are the ones propping up the economy, when they stop spending, Katy Bar The Door.
Translastion:
“Retails sales COLLAPSED 0.8% in January... so for the love of G! you must lower interest rates - what more do you want? The polling data is horrible for Ds”
Powell has almost certainly already been told to cut rates—and so far he has held firm and explained why.
I take him at his word at this point.
If rates were lowered inflation would re-ignite and explode.
But how can that be? The jobs numbers were huge last month. More people should be spending, right? They can’t keep rigging the numbers because the reality of a weakening economy is getting harder to hide.
Bad numbers, job losses, horrible economy, yet Democrats keep winning elections. We are a third world country——soon, Democrats will be winning with 99.9% of the vote.
LOTS of people putting their groceries on plastic the last few months...
The Plunge Protection Team just needs to stall until November.
The economy is acting exactly like a third world country.
The top 10% are doing great.
The lower 50% are in big trouble.
With Republicans, who needs Democrats?
Democrats have always been The Party Of The Rich.
Their rhetoric about the “little guy” has always been BS.
I’m considering putting groceries on my AmEx.
I pay it off every month and the reward points build up nicely.
Until AmEx alters or rescinds the point program.
Maybe I’ll get a new putter?
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