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Manufacturing and trade inventories and sales, August 2023
The U.S. Census Bureau announced the following new manufacturing and trade statistics for August 2023. Sales The combined value of distributive trade sales and manufacturers’ shipments for August, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,857.2 billion, up 1.3 percent (±0.2 percent) from July 2023 and was up 0.2 percent (±0.3 percent)* from August 2022. Inventories Manufacturers’ and trade inventories for August, adjusted for seasonal and trading day differences but not for price changes, were estimated at an end-of-month level of $2,548.7 billion, up 0.4 ... (full story)
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Industrial Production in the United States (US) grew 0.3% on a monthly basis in September, the Federal Reserve reported on Tuesday. This reading following the 0.4% expansion ...
Thank you for the opportunity to speak with you today on the important topic of innovations in money and payments. These issues continue to be of primary importance to the Federal Reserve.1 As part of its key functions, the Federal Reserve carries out a number of different responsibilities that include fostering a safe and efficient payment system and providing services that support U.S. financial markets and private-sector payment, clearing, and settlement arrangements; promoting the safety and soundness of individual financial institutions and monitoring their impact on the financial system as a whole; setting U.S. monetary policy; and helping to maintain the overall stability of the U.S. financial system and the economy. As a policymaker, I view responsible innovation through the lens of accomplishing these policy goals. Innovation in money and payments can take many forms. We have continued to see interest in digital assets, such as crypto-assets, stablecoins, central bank digital currency (CBDC), and programm post: FED'S BOWMAN DOESN'T COMMENT ON MONETARY POLICY.
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post: *Barkin Favored Rate Hold, Have Time to See if More Hikes Needed *Fed’s Barkin: Fed Making Progress on Inflation, ‘Aren’t There Yet’ *Fed’s Barkin: Fed Walking Fine Line on Over- and Undercorrection *Fed’s Barkin: if Recession Comes, Economy Should Be Less VulnerableBarkin: Looking Beyond Recent Data Thank you for that kind introduction and for having me with you. You may know that the last time the Fed tackled high inflation, in the ’80s, homebuilders sent Paul Volcker two-by-fours inscribed with the message: Lower interest rates. I look forward to hearing from you today but am hoping you checked your lumber at the door. To set up our discussion, I thought I might share how I am seeing the economy. Let me caution these are my thoughts alone and not necessarily those of anyone else in the Federal Reserve System. As you well know, the Fed has moved aggressively against inflation that was way too high. We have raised rates 525 basis points in just a year and a half. Hopefully you agree we needed to take action because, if there is one thing we have relearned over the past two years, it is that everyone hates inflation. High inflation creates uncertainty. As prices rise unevenly, it becomes unclear when to spend, when to save or where to invest. Inflation is exhausting. It takes effort to shop around for better prices or to handle complaints from unhappy customers. And inflation feels unfair — the wage increase you earned feels arbitrarily taken away at the gas pump. We are the folks mandated to tackle inflation, but we only have one prima
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- Posted: Oct 17, 2023 10:01am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,116
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