Consider this chart and other news today:
The reason – to me – is obvious. That’s because baby boomers are retiring and continuing to spend.
From the Fed’s perspective, this is a major problem as the two mandates may now be in conflict. Previously, as employment fell, inflation also fell because spending dried up. Looking ahead, we may see unemployment rise, but spending will remain strong (or even increase overall). This would create real problems for the Fed when it tries to decide what to do. What will happen is they will keep rates lower than they need to be, continuing to inflate assets and increase wealth. In many ways, this situation has been underway for some time, but policymakers (and the market in general) have failed to recognize it.
Tim BontempsOctober 9, 2025, 11:46 a.m. ETCloseTim Bontemps is a senior NBA writer for ESPN.com who covers the league and…
Former Secretary of Housing and Urban Development Dr. Ben Carson, recently named National Nutrition Advisor at the U.S. Department of…
Federal employees and annuitants are heading into another year of sharp increases in their health insurance premiums, both under the…
A federal judge on Thursday (Oct. 9) dismissed Drake's defamation lawsuit against Universal Music Group over Kendrick Lamar's "Not Like…
10/9: CBS Morning News - CBS News Watch CBS News Israel and Hamas agree to first phase of Gaza peace…
New York Attorney General Letitia James speaks during a news conference January 8, 2025 in New York. Michael M. Santiago/Getty…