This might be an overstatement but the sentiment is building.
We got the Philly Fed manufacturing numbers in and they are not good.
In this video I discuss how things are not looking promising for the economy. We have unemployment numbers creeping up and the Philly Fed shows a horrific print on the new orders. This does not bode well for the second half of the year.
▶️ 3Speak
I think the economy has not recovered from the prolonged lockdowns. The earning reports of the retail stores will probably tell us a lot and I wonder if there will be that many new orders when there is still inventory left.
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Working up the chain, it looks like new orders are slowing. I havent checked the inventory numbers of late so I havent watched it that closely.
Yes the retailers should tell us the story when they report.
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We are in for some pain that’s for sure. The numbers haven’t been good for a while but they keep trying to prop it up. The house of cards will crumble eventually, just how quickly is the question.
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Some say we are already in recession. If this is the case, the second half might only see a deepening.
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friend one question each state has its own federal reserve or is there a single one that manages all the states of the US
The US Federal Reserve is made up of 12 regional banks.
They each have their own bank president.
Some are NY, Atlanta, Dallas, Philly, SF.
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