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Whetstone Analysis commentary will help you stay sharp and up-to-date with the high frequency economic data and developments in Federal Reserve monetary policy.

“Terry gets it right without overstating small stuff. She sees a longer scope than many are capable of and sadly too few appreciate. Additionally, she arranges reports so that one does not feel they have been jumped ahead or need to review for clarity. Finally, she doesn’t ‘guess’, she puts down relevant details rather than trying to connect interestingly but unrelated dots.” — Martin McGuire, Managing Director at TJM Investments, LLC

“Terry brings a solid knowledge of the economic data and Fed history to bear in quickly distilling the essentials for consumption.” — Les Alperstein, President at Washington Analysis

 

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ECONOMIC DATA

High frequency US economic data reports from the Commerce Department, Labor Department, Treasury Department, Federal Reserve Board of Governors, Federal Reserve District Banks, and a variety of closely watched private sources.

First Cut: May Kansas City Fed Services Composite Index off record low in April

The Kansas City Fed’s Services Survey reflected a sharp improvement in the general business activity index at -21 in May…

First Cut: May Final Consumer Sentiment Index remained among lowest readings in 8 years

The University of Michigan Consumer Sentiment Index for May was revised down to 72.3 in the final report (previously 73.7).…

First Cut: Personal income jumps in April on government transfers while wages and salaries decline

Personal income rose 10.5% in April after declining 2.2% in March. However, wages and salaries were down 8.0%, accelerating the…

First Cut: Kansas City Fed Manufacturing Composite Index improved in May, if still in contraction

The Kansas City Fed’s Manufacturing Composite Index remained consistent with recession in May at -19, but was decidedly better than…

First Cut: Pending Home Sales Index well into recessionary territory in April

The NAR's Pending Home Sales Index fell 21.8% to 69.0 in April from March and was off 33.8% from the…

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CENTRAL BANK CENTRAL

Information and analysis about Federal Reserve monetary policy and policymakers.

Comment: Fed’s holdings of securities little short of $6 trillion in May 27 week

The Fed’s holdings of securities outright increased by $86.2 billion in the average of Wednesday, May 27 to $5.959 trillion…

Comment: Fed’s Beige Book reflected increased severity of economic downturn

The Fed’s Beige Book for the period between early April and mid-May had all 12 Districts describing various levels of…

Comment: FOMC meeting minutes from April 28-29 show a lot of things have yet to resolve

The minutes of the April 28-29 FOMC meeting are three weeks old. The content of the minutes in the context…

Comment: Fed’s holdings of securities climb to nearly $5.7 trillion as of May 13 week average

The Fed’s holdings of Treasurys and Agency MBS continue to climb to record highs even as the pace of purchases…

Comment: Chair Powell reminds that the Fed has done a lot and is ready to do more

In his introductory remarks in a webcast at the Peterson Institute on Wednesday, Chair Jerome Powell reminded that the Fed…

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ON THE RADAR

Recaps, reminders, and random analysis of data and events that pertain to the US economy and monetary policy.

Recap: The five District Bank surveys of manufacturing and services lifted off record lows in May

With all five District Bank surveys of manufacturing in hand, conditions look good for a mild increase in the ISM…

On the radar: St. Louis Fed Financial Stress Index nears neutral at end of May 22 week

The St. Louis Fed's Financial Stress Index fell 0.495 point to 0.120 in the week ended May 22, its lowest…

On the radar: Freddie Mac 30-year fixed rate hits new low as of May 28 data

Freddie Mac reported weekly mortgage interest rates were down across the board as of May 28. Exceptionally low rates may…

On the radar: Atlanta Fed business uncertainty survey showed increased concerns in May

The Atlanta Fed/Chicago Booth/Stanford University Survey of Business Uncertainty for May showed clearly that escalating uncertainty is driving falling expectations.…

Look forward at May 25, 2020 week: More numbers and soft data will give Fed policymakers something to chew on at the June 9-10 meeting

A look forward to the May 25 week starts with the federal holiday on Monday. Memorial Day is the unofficial…

UPCOMING ANNOUNCEMENTS

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