Schaftlein Report | Where is the Economy Prior to Fed Decision
1) Consumer spending appears to be slowing as credit card usage on balances grows.
1A) The Federal Reserve is expected to raise interest rates by 25 basis points at the conclusion of their meeting tomorrow.
Inflation has slowed to 5% year over year however the elevated prices show no signs of reversing.
1B) Exxon reports earnings of $55.7B
2) McCarthy and Biden to discuss debt ceiling limit. The country is capped at $31.4T are we are there.
3) In politics, the DOJ has refused to provide Jim Jordan’s committee the Biden documents claiming their investigation is ongoing.
This is a stall tactic.
3A) Georgia prosecutors have given notice to Trump orbit of possible criminal charges in their vote investigation.
4) Trump hits DeSantis in his South Carolina rally even thought he has yet to announce his candidacy.
5) Texas Governor Greg Abbott announces appointment of Border Czar to help with migrant surge.
6) Republicans and Democrats make up about 28% each of registered voters while Independents are at 41%.