Third Fed rate cut could be the last in 2019

As expected, the Federal Reserve (Fed) cut the federal funds rate band by 25 basis points from 1.75%–2.00% to 1.50%­–1.75%.1 Changes in the text of the Federal Open Market Committee statement, as well as information provided in the press conference, indicate that the Fed believes it is done cutting interest rates unless economic conditions continue […]


Fannie Mae: Mortgage Serious Delinquency Rate increased slightly in September

Fannie Mae reported that the Single-Family Serious Delinquency increased slightly to 0.68% in September, from 0.68% in August. The serious delinquency rate is down from 0.82% in September 2018. These are mortgage loans that are “three monthly payments or more past due or in foreclosure”.  The Fannie Mae serious delinquency rate peaked in February 2010 […]


October Employment Preview: Take the Under

Special Notes on GM Strike and Decennial Census: The GM strike has ended, but 48,000 workers were on strike during the BLS reference week. There was probably some spillover to suppliers and others – and the strike will probably reduce October employment by close to 75,000 jobs. The strike is over, and these jobs will […]


Personal Income increased 0.3% in September, Spending increased 0.2%

The BEA released the Personal Income and Outlays report for September: Personal income increased $50.2 billion (0.3 percent) in September according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $55.7 billion (0.3 percent) and personal consumption expenditures (PCE) increased $24.3 billion (0.2 percent). Real DPI increased 0.3 percent […]


Bad business and corporate responsibility

I have a presentation for the Corporate Accountability Network at Essex Univesity yesterday. I did not use slides, although I had prepared some. These were my notes, in that case: Bad Company and corporate responsibility Professor Richard Murphy Professor of Practice in International Political Economy, City University, London Director, Corporate Accountability Network University of Essex, […]