Philly Fed Business Outlook Plunges -10% In September As Fed Tightens Rates (It’s NOT Always Sunny In Philadelphia)

It’s NOT always sunny in Philadelphia.

The Philadelphia Fed Business Outlook fell almost -10% in September as The Federal Reserve tightens monetary policy.

On a related note, the share of total net worth held by the bottom 50% in the US (red line) was always higher than the share of total net worth held by the top 1% (blue line) … until The Federal Reserve began QE in late 2008. Under Obama, the top 1% surpassed the bottom 50% in terms of share of total net worth. it equalized under Trump and before Covid. Then the massive QE (and surge in Federal spending) to battle Covid seemingly made the rich even richer and the bottom 50% even poorer. This is Biden’s America … massive Federal subsidies to the wealthy, crumbs for the bottom 50%.

Green energy anyone??

13 thoughts on “Philly Fed Business Outlook Plunges -10% In September As Fed Tightens Rates (It’s NOT Always Sunny In Philadelphia)

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.