The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
By Charles Stampul
Nominal GDP doesn’t always decline during an inflationary recession (i.e., stagflation) because the figure reflects both economic activity and price levels.
Continue reading Nominal GDP Doesn’t Always Decline During an Inflationary Recession
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Trenton NJ, new unemployment claims decreased by 7.3% week-over-week on March 27 despite high inflation and the threat of a recession. To help add some context to these statistics, WalletHub just released updated rankings for the States Where Unemployment Claims Are Decreasing the Most.
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Washington DC, yesterday the Bureau of Labor Statistics reported ,total nonfarm payroll employment increased by 223,000 in December, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, construction, and social assistance.
file photo by Boyd Loving
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Washington NJ, The Federal Reserve’s latest interest rate hike Wednesday of 0.75 percent is expected to intensify pressure on the housing market while pushing up mortgage rates that already have reached nearly 20-year highs. Its also the fourth consecutive 0.75 percentage point increase and the sixth consecutive one this year for the Fed, a cycle not seen since the inflation-fighting days of the early 1980s.
Continue reading The Federal Reserve Hikes Rates For the Sixth Time
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Washington DC, (8:33am) total nonfarm payroll employment increased by 263,000 in September, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality and in health care.
Continue reading Unemployment rate edged down to 3.5 percent Job Growth Continues to Slow
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Ridgewood NJ, not sure why so many Wall Street economic geniuses predicted that the GDP report would show a positive number, given that inflation is running at 9%. “Stuck on Stupid” seems to be a growing pandemic.
Continue reading The “Inflation is Transitory” Crowd is Claiming We are Not in a Recession
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Washington DC, its official ,the U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday.
Continue reading It’s Official the US Economy Has Entered a Recession
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Washington Dc, the Federal Reserve announced another steep interest rate hike Wednesday, ramping up its efforts to bring inflation down from four-decade highs.
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Ridgewood NJ, a new poll conducted at Issues & Insights by the TIPP polling group asked 1,300 Americans who’s responsible for “causing the current inflation?”
A stunning 64% said Biden was “responsible,” choosing either “very” or “somewhat responsible” versus 25% answered “not very” or “not at all responsible.” Even 53% of Democrats say Biden is responsible for the surge in prices.
Continue reading Voters Not Buying White House Spin on Economy and Inflation
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Ridgewood NJ, with the economy still struggling, most Americans believe this year’s class of college graduates face a tough job market.
Continue reading Concerns Over Job Prospects for the Class of ’22
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Washington DC, on Wednesday the Federal Reserve raised its benchmark interest rate by half a percentage point, the most aggressive step yet in its fight against a 40-year high in inflation. In remarks after the Federal Open Market Committee voted to raise its key interest rate by 50-basis points for the first time since 2000, Powell rebuffed any suggestion that a mega-sized, 75-basis point increase is on the table at future meetings. The S&P 500 rose 3% following his comments, the biggest jump since May 2020.
Continue reading The Fed Wakes Up Raises its Benchmark Interest Rate by Half a Percentage Point
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Ridgewood NJ, as previously reported on the Ridgewood blog ,the Consumer Price Index surged 7.9% in February . Prices are going up on everything from the food you put on the table to the gas that powers your car.
Continue reading CNBC Poll : 81% of Respondents Believe a Recession is Likely to Happen this Year
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Ridgewood NJ, inflation is now at 7.9% – a 40-year high, according to government figures. Clearly the categories of gas, food, and housing, it’s considerably higher.
Continue reading Data Suggests Inflation Pressures Are Sending Recessionary Signals
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Trenton NJ, Treasurer Elizabeth Muoio is right about New Jersey needing a much bigger surplus than the one being proposed right now. But the same analyst she cited in support of her position also has suggested that raising the millionaires tax is the wrong way to go, the New Jersey Business & Industry Association said this morning.
“NJBIA agrees with the Treasurer that New Jersey should have a much bigger surplus than it has now, and the one being proposed by the Murphy administration is the largest we’ve had in a long time,” said Andrew Musick, NJBIA vice president for Government Affairs. “That’s to the governor’s credit. But the way to grow New Jersey’s surplus is through the structural spending reforms that were introduced by legislators last week, not raising taxes in an economy that’s been growing for years and remains strong.”
Continue reading Rating Agency Warns New Jersey Not Prepared for the Next Recession
A new study cast doubts on whether New Jersey can withstand another economic downturn. Samantha Marcus, NJ.com Read more
