Public Deficit Increase and Private Debt Destruction
March 14, 2012

FOMC: Definitely less dovish, with a more assertive dissenting minority (Jeffrey Lacker)

Release Date: March 13, 2012 Information received since the Federal Open Market Committee met in January suggests that the economy has been expanding moderately. Labor market conditions have improved further; the unemployment rate has declined notably in recent months but remains elevated. Household spending and business fixed investment have continued to advance. The housing sector […]

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February 15, 2012

Euro area GDP declines in Q4 of 2011

From the Eurostat press release: GDP fell by 0.3% in both the euro area (EA17) and the EU27 during the fourth quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. In the third quarter of 2011, growth rates were +0.1% and +0.3% respectively.  Compared […]

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February 3, 2012

US and EU Employment Figures

U.S. total nonfarm payroll employment rose by 243,000 in January (Market expectation 200,000), and the unemployment rate decreased to 8.3 percent (8.5 expected).  The unemployment rate declined by 0.2 percentage point in January; the rate has fallen by 0.8 point since August. Job growth was widespread in the private sector. Government employment changed little over […]

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January 27, 2012

Global Economy Update: January 27

United States The FOMC met on the January 25th.  Below is the FOMC statement from that meeting, with the differences in language from the previous meeting highlighted. 25 January 27, 2012 Information received since the Federal Open Market Committee met in December suggests that the economy has been expanding moderately, notwithstanding some slowing in global […]

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