2023-09-13 Economy
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Big Economic News This Week - Starts off bad
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[Axios] Americans' real incomes fell in 2022 from the previous year, new Census data show, as record-high inflation took a bite out of our paychecks.
Why it matters: The decline explains why Americans have felt so meh about the strong economy over the past couple years.
- To be clear: It's hard to be amped up about the economy when you're making less money (and prices are soaring.)
- It's another reason why the White House's Bidenomics pitch, an attempt to tell a feel-good story about the economy, seems to have fallen flat so far.
By the numbers: Real median household income fell by 2.3% to $74,580.
Later this week, CPI, then PPI, then maybe an auto worker strike.
Based on Cleveland Federal Reserve Nowcasts, CPI and PPI will be higher than last month which could bum the stock market. But the biggie is whether the auto workers strike which could also come this week.
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Posted by lord garth 2023-09-13 00:00||
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Posted by Skidmark 2023-09-13 05:39||
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Posted by Skidmark 2023-09-13 06:37||
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Posted by DarthVader 2023-09-13 08:13||
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Posted by Besoeker 2023-09-13 08:17||
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Posted by lord garth 2023-09-13 08:38||
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Posted by lord garth 2023-09-13 08:43||
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Posted by M. Murcek 2023-09-13 10:27||
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Posted by NoMoreBS 2023-09-13 12:56||
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Posted by Besoeker 2023-09-13 13:41||
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Posted by NoMoreBS 2023-09-13 14:28||
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