The Empire Strikes Out! NY’s Empire State Activity Survey Drops To -19.30 (Biden Hangover)

#bubble, #inflation, Banking, CMBS, CRE, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, Gold, Housing, Inflation, Mortgage, New Home Sales, Powell, REITs, Silver, Treasuries, Treasury, Uncategorized, Wages, Yellen, Yield Curve 1 Minute

The Imperial March from Star Wars should have been the theme for Bidenomics, the top-down government-directed economy (mainly to political donors). It will take a while for the economy to recover from its addiction to Federal government spending.

Speaking of The Empire, the New York Fed’s Empire State business activity survey declined to -19.30. Would Jerome Powell and The Fed have cut rates had they known about the Empire activity survey yesterday?

Emperor Palpatine. Aka, 10% Joe.

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Published by confoundedinterest17

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