Ed Yardeni

Live Long And Prosper!

Apr 8, 2024 2 min read

American consumers are doing what they do best: They are consuming goods and services. Their consumption of services has been especially strong. So the demand for workers by several major services industries has been particularly strong. In turn, robust employment gains have boosted consumers’ purchasing power and spending. We have attributed some of these developments to the retiring Baby Boomer generation. This cohort is the richest generation of senior citizens

Ed Yardeni

Max On The Market

Apr 7, 2024 1 min read

Max is getting ready for the eclipse on Monday. He regularly appears in Dr Ed's weekly webcasts on Mondays for our institutional accounts. Max has correctly predicted the direction of the stock market over the past two weeks. Replays of our Monday webcasts are available on Wednesdays here at https://www.yardeniquicktakes.com/ View All QuickTakesView Our Live Charts💡Join the discussion with Dr. Ed below! Paid members

Ed Yardeni

The Economic Week Ahead: April 8 - 12

Apr 7, 2024 2 min read

This week will feature some key inflation numbers. The March headline CPI (Wed) and PPI (Mar) will get a boost from higher gasoline prices. Their core inflation rates should continue to moderate. The week starts with the FRBNY survey of inflation expectations (Mon). The pump price of gasoline jumped last month and probably boosted inflation expectations (chart): The gasoline component of the March CPI will also reflect the jump in

Ed Yardeni

DEEP DIVE: The Amazing Flying Machine

Apr 6, 2024 6 min read paid

GDP I: Still Flying. Not Landing. It’s official: There was no recession in 2022 or 2023. There was no hard landing in either year. There was a soft landing of sorts in 2022, but the economy was flying high last year and remains on that flight path in 2024. Consumers continued to increase their spending through the end of last year, upending forecasts (not ours) that the dwindling of

Ed Yardeni

Loose Fed Lips Sink Stocks

Apr 4, 2024 2 min read paid

We are in the same camp as Federal Reserve Bank of Minneapolis President Neel Kashkari. On March 6, he said, "If we have a run rate that's very attractive, people have jobs, businesses are doing well, inflation is coming back down, why do anything?" We wrote an op-ed in the March 25 Financial Times titled, "The Fed should resist messing with success." We asked:

Ed Yardeni

Dr Ed's Video Webcast 4/4/24

Apr 4, 2024 1 min read paid

The US economy is flying high and should continue to do so. It has defied the past two years’ widespread expectations that it would land hard or fall into recession. In fact, last year’s real GDP growth of 3.1% matched the 48-year average. Fiscal stimulus has helped, but the major engine has been robust consumer spending as Baby Boomers spend their wealth. With consumption per household near its

Ed Yardeni

'Knock On Wood'

Apr 3, 2024 2 min read

Fed Chair Jerome Powell spoke at Stanford University today about the economy and monetary policy. He said, "I think we've gotten to what is, knock on wood, a pretty good place." He added, "We're using our tools to try to bring inflation down the rest of the way to 2%, while all the while keeping the economy strong as well." Today'

Ed Yardeni

More Bumps Ahead?

Apr 2, 2024 2 min read paid

Fed Chair Jerome Powell has often said that the road toward lowering inflation down to the Fed's 2.0% target is likely to be bumpy. Nevertheless, there has been no turbulence in the stock market's smooth ascent to new record highs since October 27, 2023, which marked the end of a 10.3% correction in the bull market that started October 12, 2022 (chart). Nevertheless, we

Ed Yardeni

Rolling Recoveries In Manufacturing & Retailing

Apr 1, 2024 2 min read paid

The rolling recessions in manufacturing and retailing are turning into rolling recoveries. That's our conclusion based on today's relatively solid manufacturing purchasing managers report for March. The M-PMI rose to 50.3, the first reading above 50.0 since September 2022 (chart). That was the beginning of the rolling recession that hit goods producers following the post-lockdown goods buying binge that started May 2020. The new

Ed Yardeni

The Economic Week Ahead: April 1 - 5

Mar 31, 2024 2 min read paid

The first week of the month is always jampacked with economic indicators. In addition, at least one member of the Federal Open Mouth Committee will be speaking every day. The economic indicators should confirm that the economy remains resilient in the face of pockets of weakness (a.k.a., rolling recessions). For starters, we'll see if the ISM's March M-PMI (Mon) confirms the weakness in the

Ed Yardeni

Market Call: Fed Choir All On Same Page

Mar 31, 2024 2 min read paid

Fed Chair Jerome Powell spoke on Friday at an event at the San Francisco Fed. He repeated what other Fed officials have been saying recently. Solid economic growth gives the Fed "the chance to just be a little more confident about inflation coming down before we take the important step of cutting rates." Inflation continues to moderate on a "sometimes bumpy" path. So there's

Ed Yardeni

DEEP DIVE: The Fed Put Is Back

Mar 30, 2024 6 min read paid

Monetary Policy I: Post-Modern Monetary Theory Melissa and I received quite a few favorable reader comments on last Monday’s Morning Briefing discussing our “Post-Modern Monetary Theory” (P-MMT). Many of the comments included thought-provoking queries about our P-MMT, which I address below. In addition, the Financial Times is running my summary of our theory in an op-ed titled “The Fed should resist messing with success.” The basic concept of P-MMT

Ed Yardeni

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Live Long And Prosper!

Max On The Market

The Economic Week Ahead: April 8 - 12

DEEP DIVE: The Amazing Flying Machine

Loose Fed Lips Sink Stocks

Dr Ed's Video Webcast 4/4/24

'Knock On Wood'

More Bumps Ahead?

Rolling Recoveries In Manufacturing & Retailing

The Economic Week Ahead: April 1 - 5

Market Call: Fed Choir All On Same Page

DEEP DIVE: The Fed Put Is Back