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Jun 10, 2026
The financial press needed only minutes to take a hot CPI headline number and turn it into a Fed-panic story. CNN promptly won the ugly-poster-child award, telling viewers that...
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Jun 9, 2026
The latest trade report delivers a simple but powerful message: America is selling more to the world, importing more of what it needs to rebuild at home, and steadily shrinking the...
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Jun 5, 2026
TV’s talking heads, even on America’s more sophisticated financial news networks, seem determined to turn every bit of good macroeconomic news into yet another tortured...
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Jun 4, 2026
U.S. inflation has risen to its fastest pace in three years, and gas prices have been hit particularly hard. This is not Trump inflation. It is Iran terror inflation.
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Jun 1, 2026
Joe Biden drove American manufacturing offshore. Donald Trump is bringing it back. That is the unmistakable message in the latest Institute for Supply Management...
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May 27, 2026
New Fed Chair Kevin Warsh may be boxed in as Powell and Biden-era allies reportedly hold enough votes to force rate hikes during an oil-price shock.
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May 21, 2026
The most interest-rate-sensitive sector of the American economy is flashing a cautiously bullish signal. That is precisely why the last thing the market needs now is a Fed rate...
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May 8, 2026
The April jobs report delivered another reminder that the American economy is stronger than the professional pessimists, Wall Street forecasters, and Washington spreadsheet jockeys...
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May 5, 2026
For decades, Washington measured economic success by how much America could consume, borrow, import, and outsource. Wall Street got cheap goods. Multinationals got cheap labor. China...
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Apr 30, 2026
Today’s advance estimate of Q1 GDP tells us the Trump economy is growing. Business investment is surging. The private sector is rebuilding. And the federal government is...
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Apr 15, 2026
For decades, April 15 has been a day of mourning for America’s blue-collar and middle-class families — the day the taxman takes his annual bite. This year, however, Tax...
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Apr 14, 2026
March’s producer price report is another reminder that not all inflation is created equal. A commodity-driven jump tied largely to energy is one thing. A generalized...
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Apr 13, 2026
If you followed the breathless media coverage of Friday’s CPI report, you got a lot of noise—but not much signal.
Yes, prices rose sharply in March. But that 0.87...
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Apr 3, 2026
Today’s jobs report is another reminder that the American labor market is a lot stronger than the professional pessimists want to admit. In March, the economy added 178,000...
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Apr 2, 2026
The February trade report is another strong signal that the American economy is being rewired in exactly the right direction. Yes, the headline deficit ticked up to $57.3 billion...
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Apr 1, 2026
The March ISM manufacturing report says something important and unmistakable: American manufacturing is expanding again.
The headline PMI rose to 52.7 in March, beating...
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Mar 19, 2026
In holding rates steady, Jerome Powell—the worst Fed Chair since Arthur Burns—has once again let his anti-Trump animus cloud his judgment. The damage will not show up...
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Mar 11, 2026
The February Consumer Price Index provides another piece of evidence that the Trump economic program is working. Inflation is not accelerating as critics predicted. Instead, it is...
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Mar 6, 2026
The February jobs report will inevitably produce a round of cautionary headlines. The topline figure—nonfarm payrolls declining by 92,000—will be cited as evidence that...
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Feb 27, 2026
The January Producer Price Index landed with a predictable media spin: “hotter than expected” and therefore proof that tariffs, Trump, and the so-called “new...
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Feb 24, 2026
The latest Conference Board Consumer Confidence report points to an important inflection point: consumer expectations are starting to align with improving economic fundamentals. With...
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Feb 20, 2026
The markets got a twin dose of macro indicators today—GDP growth and PCE inflation—and, almost on cue, much of the commentary missed the signal for the noise.
Start...
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Feb 19, 2026
This week’s residential construction report — with housing starts beating expectations and single-family starts rising again — signals that Trump’s policy...
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Feb 13, 2026
Headline consumer prices rose just 0.17 percent for the month, pulling year-over-year inflation down to 2.4 percent. Core inflation came in contained at 0.30 percent for January and...
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Feb 11, 2026
January’s above-estimates jobs report tells two very different stories.
One is about the Trump month. The other is about the Biden inheritance.
Start with the...
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Feb 9, 2026
On April 7 of last year, with tariff panic gripping the markets and the Dow plunging toward 38,000, I went on CNBC’s Squawk Box with a simple message: relax. The Dow was on a...
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Feb 5, 2026
President Trump dislikes an overly strong dollar because it hurts U.S. exporters and manufacturers, and he wants lower interest rates. His Fed nominee, Kevin Warsh, is associated...
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Jan 30, 2026
The latest inflation report is out, and the early chatter is already doing what it always does: seize on a single monthly number and ignore the trend.
Here’s the truth,...
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Jan 22, 2026
This week’s revision of third-quarter GDP offers early but compelling evidence that the long-awaited Trump manufacturing boom is beginning to take shape—even as it...
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Jan 12, 2026
Housing debates often get lost in abstractions about “affordability” or arguments over subsidies. But mortgage rates are not set by rhetoric, press releases, or political...
Jun 10, 2026The financial press needed only minutes to take a hot CPI headline number and turn it into a Fed-panic story. CNN promptly won the ugly-poster-child award, telling viewers that...
Jun 9, 2026The latest trade report delivers a simple but powerful message: America is selling more to the world, importing more of what it needs to rebuild at home, and steadily shrinking the...
Jun 5, 2026TV’s talking heads, even on America’s more sophisticated financial news networks, seem determined to turn every bit of good macroeconomic news into yet another tortured...
Jun 4, 2026U.S. inflation has risen to its fastest pace in three years, and gas prices have been hit particularly hard. This is not Trump inflation. It is Iran terror inflation.
Jun 1, 2026Joe Biden drove American manufacturing offshore. Donald Trump is bringing it back. That is the unmistakable message in the latest Institute for Supply Management...
May 27, 2026New Fed Chair Kevin Warsh may be boxed in as Powell and Biden-era allies reportedly hold enough votes to force rate hikes during an oil-price shock.
May 21, 2026The most interest-rate-sensitive sector of the American economy is flashing a cautiously bullish signal. That is precisely why the last thing the market needs now is a Fed rate...
May 5, 2026For decades, Washington measured economic success by how much America could consume, borrow, import, and outsource. Wall Street got cheap goods. Multinationals got cheap labor. China...
Apr 30, 2026Today’s advance estimate of Q1 GDP tells us the Trump economy is growing. Business investment is surging. The private sector is rebuilding. And the federal government is...
Apr 15, 2026For decades, April 15 has been a day of mourning for America’s blue-collar and middle-class families — the day the taxman takes his annual bite. This year, however, Tax...
Apr 14, 2026March’s producer price report is another reminder that not all inflation is created equal. A commodity-driven jump tied largely to energy is one thing. A generalized...
Apr 13, 2026If you followed the breathless media coverage of Friday’s CPI report, you got a lot of noise—but not much signal. Yes, prices rose sharply in March. But that 0.87...
Apr 2, 2026The February trade report is another strong signal that the American economy is being rewired in exactly the right direction. Yes, the headline deficit ticked up to $57.3 billion...
Apr 1, 2026The March ISM manufacturing report says something important and unmistakable: American manufacturing is expanding again. The headline PMI rose to 52.7 in March, beating...
Mar 19, 2026In holding rates steady, Jerome Powell—the worst Fed Chair since Arthur Burns—has once again let his anti-Trump animus cloud his judgment. The damage will not show up...
Mar 11, 2026The February Consumer Price Index provides another piece of evidence that the Trump economic program is working. Inflation is not accelerating as critics predicted. Instead, it is...
Feb 27, 2026The January Producer Price Index landed with a predictable media spin: “hotter than expected” and therefore proof that tariffs, Trump, and the so-called “new...
Feb 24, 2026The latest Conference Board Consumer Confidence report points to an important inflection point: consumer expectations are starting to align with improving economic fundamentals. With...
Feb 19, 2026This week’s residential construction report — with housing starts beating expectations and single-family starts rising again — signals that Trump’s policy...
Feb 11, 2026January’s above-estimates jobs report tells two very different stories. One is about the Trump month. The other is about the Biden inheritance. Start with the...
Feb 9, 2026On April 7 of last year, with tariff panic gripping the markets and the Dow plunging toward 38,000, I went on CNBC’s Squawk Box with a simple message: relax. The Dow was on a...
Feb 5, 2026President Trump dislikes an overly strong dollar because it hurts U.S. exporters and manufacturers, and he wants lower interest rates. His Fed nominee, Kevin Warsh, is associated...
Jan 30, 2026The latest inflation report is out, and the early chatter is already doing what it always does: seize on a single monthly number and ignore the trend. Here’s the truth,...
Jan 12, 2026Housing debates often get lost in abstractions about “affordability” or arguments over subsidies. But mortgage rates are not set by rhetoric, press releases, or political...