Good Morning on this Wednesday and best day of the week,
Markets hoping for a glimpse into what the Fed may think and do come next week. Report came in just about as expected. The core reading did tick up by .1 but he headline was right on target at .6 (a big piece was due to rising energy costs). Bond Market had a knee jerk reaction but has since calmed down and bonds are trading in the green (price which means lower yields). Tomorrow is PPI and unemployment claims data with the ECB rate decision sprinkled in. Tomorrow could be volatile, but I don’t know we will see much in either direction until a week from now when the Fed makes its decision. Of course, anything could trigger volatility.
U.S. Incomes Fall for Third Straight Year
Surging inflation gobbled up household income gains last year, making 2022 the third straight year in which Americans saw their living standards eroded by rising prices and pandemic disruptions. Americans’ inflation-adjusted median household income fell to $74,580 in 2022, declining 2.3% from the 2021 estimate of $76,330, the Census Bureau said Tuesday. The amount has dropped 4.7% since its peak in 2019. The figures add to the picture of the economic challenges facing households since Covid-19 hit in early 2020.
Please remain safe and healthy, make today great!