SCARCE CONSUMER SPENDING AND THE POSSIBLE U.S. DOOMSDAY
Since early last year, the federal funds rate has increased to 5%. Last week, on May 3rd, the Feds raised it an additional 25bps bringing the total rate hike to 5.25%. This is the highest it has been since 2007. The aggressive rate hikes are due to the Fed’s attempt to combat inflation, which has been at…..
As the United States DOOMSDAY lurks – Ex Date – U.S. Default date – June 1st – investors are on the edge. Over the past few weeks, President Biden and Speaker McCarthy have been in negotiations and seemed to be making headway. However, mid this past week McCarthy walked out of negotiations stating, “I still think we’re far apart.”……
U.S. DEFAULT + RISING RATES – OUR ECONOMY AT A GLANCE
Since early last year, the federal funds rate has increased to 5%. Last week, on May 3rd, the Feds raised it an additional 25bps bringing the total rate hike to 5.25%. This is the highest it has been since 2007. The aggressive rate hikes are due to the Fed’s attempt to combat inflation, which has been at…..
Since early last year, the federal funds rate has increased to 5%. Last week, on May 3rd, the Feds raised it an additional 25bps bringing the total rate hike to 5.25%. This is the highest it has been since 2007. The aggressive rate hikes are due to the Fed’s attempt to combat inflation, which has been at…….
SECOND LARGEST U.S. BANK FAILURE – 2008 CRISIS STILL HOLDS THE RECORD
SECOND LARGEST U.S. BANK FAILURE
This week, the markets took investors on an interesting run. To start the week, the collapse of First Republic Bank (FRC) – the second largest bank failure in U.S. history, was announced Monday, May 1st. As we are entering just the fifth month of 2023, this marks the third bank failure this year. On May 1st, the FDIC seized First Republic and sold about $173 billion of loans and $30 billion in securities to…….