Image source: Pixabay

Elon almost blowing up Twitter, the continuation of the SBF-FTX trainwreck, the housing market continues to get weirder with negative prints in NAHB home builders and single family starts, bond market flashing recession, and Target cratering. However, food deflation is coming, the job market is hanging in there, retail sales were okay, rents are slowing, freight rates have tumbled, and PPI came in soft.

Disinflationary data is coming through, but inflation is still a bright spot of worry.

The Fed brought out the hammer again this week, making sure everyone understands that They Are Serious This Time.

Bullard is absolutely waving his hands and saying “everyone CALM DOWN” and is subscribing to “do more now to do less later” which probably works in some cases, but maybe not in an economic environment where turning the oven up to 400 degrees won’t cook the cake any faster? And they are Exceptionally Serious about controlling the market, which is sort of funny because that is not part of their dual mandate! Powell will be speaking at the end of November, and that certainly will be another mallet to the stone.

Some more on Elon, SBF-FTX, and some Moo!

Video Length: 00:11:46

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