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  • Writer's pictureStephen H Akin

Economic Strength

Minneapolis Federal Reserve President Neel Kashkari "I'm not ready to say that we're done,"

The Minneapolis Federal Reserve President Neel Kashkari on Tuesday said that while he is pleased with the progress so far, inflation is still too high and the U.S. central bank may still need to raise interest rates further. "I'm not ready to say that we're done," Kashkari told the APi Group Global Controllers Conference in Minneapolis. But with recent positive signs on inflation, he said, "we can take a little bit more time to get some more data and before we decide whether we need to do more."


 

Advance Monthly Sales for Retail and Food Services



Advance Estimates of U.S. Retail and Food Services

Advance estimates of U.S. retail and food services sales for July 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $696.4 billion, up 0.7 percent (±0.5 percent) from the previous month, and up 3.2 percent (±0.7 percent) above July 2022. Total sales for the May 2023 through July 2023 period were up 2.3 percent (±0.4 percent) from the same period a year ago. The May 2023 to June 2023 percent change was revised from up 0.2 percent (±0.5 percent)* to up 0.3 percent (±0.2 percent).

Retail trade sales were up 0.6 percent (±0.5 percent) from June 2023, and up 2.0 percent (±0.5 percent) above last year. Nonstore retailers were up 10.3 percent (±1.6 percent) from last year, while food services and drinking places were up 11.9 percent (±2.3 percent) from July 2022.

General Information The August 2023 Advance Monthly Retail report is scheduled for release on September 14, 2023 at 8:30 a.m. EDT.


 

The underlying economy continues to chug along as shown by the GDP chart below:


 

The PPI (Producer Price Index) has moderated. Will it be sustainable?


 



 

The Executive Order of August 9, 2023


DEPARTMENT OF THE TREASURY Office of Investment Security


31 CFR Chapter VIII [Docket ID TREAS–DO–2023–0009] RIN 1505–AC82 Provisions Pertaining to U.S. Investments in Certain National Security Technologies and Products in Countries of Concern AGENCY: Office of Investment Security, Department of the Treasury. ACTION: Advance notice of proposed rulemaking. SUMMARY: The Executive Order of August 9, 2023,


Full Text:

Treasury Federal Register
.pdf
Download PDF • 236KB


 

The Inflation Reduction Act - One Year On!



 

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