Free Republic

After an unexpected rise in US durable goods orders (in May) and pending home sales (in May), the Dallas Fed’s Manufacturing Survey (in June) plunged to its lowest since May 2020.Source: BloombergThe survey was expected to rise modestly from -7.3 to -6.5, but plunged to -17.7. New Orders crashed into negative territory and employment weakened significantly. The comments from survey respondents are perhaps most enlightening of the reality facing many businesses in America: foreign dependence, cost inflation, over-regulation, and Biden energy policies… ◾As a country, we are not looking at the future and establishing relationships with emerging countries like we...

With expectations for a muddle-through slight positive print, the headline Dallas Fed index just printed at -13.2 (exp. 1.9). This is its lowest level since September of last year and the biggest miss of expectations since May of last year. The headline index is teetering on the edge of its worst levels since 2009 as the month to month change in the general business activity index dropped a massive 19pts - its largest drop since April 2005. Specifically it appears the outlook for capital expenditures was among the largest sub-index to have its hope crushed - and this strongly suggests...

The president of the Dallas Fed on inflation risk and central bank independence. BY MARY ANASTASIA O'GRADY Dallas From his perch high atop the palatial Dallas Federal Reserve Bank, overlooking what he calls "the most modern, efficient city in America," Richard Fisher says he is always on the lookout for rising prices. But that's not what's worrying the bank's president right now. His bigger concern these days would seem to be what he calls "the perception of risk" that has been created by the Fed's purchases of Treasury bonds, mortgage-backed securities and Fannie Mae paper. Mr. Fisher acknowledges that events...