Americans Fall Behind on Car Payments
Source: Win Smart, CFA @WinfieldSmart, Bloomberg
The Fed's preferred measure of inflation (Core PCE) moved up to 2.8% in February & remains well above their 2% target that has yet to be achieved.
Here are the details 👇 YoY Growth: PCE (Feb), 2.5% Vs. 2.5% Est. (prev. 2.5%) Core PCE, 2.8% Vs. 2.7% Est. (prev. 2.6%) MoM Growth: PCE (Feb), 0.3% Vs. 0.3% Est. (prev. 0.3%) Core PCE, 0.4% Vs. 0.3% Est. (prev. 0.3%) ➡️ The market is expecting the Fed to hold rates steady again at their next meeting on May 7 (at 4.25-4.50%). Source: Charlie Bilello
The median household income necessary to purchase the median priced home for sale in the US ($124k) is now 57% higher than the current median household income ($79k).
This is the most unaffordable housing market in history. Source: Charlie Bilello @charliebilello
‼️Gold shipments to the US are SKYROCKETING:
Swiss gold exports to the US hit a record 404 metric tons over the last 3 months. Gold stockpiles on the Comex hit a record 42.6 million ounces on Tuesday, almost DOUBLE the inventory at the end of 2024. Rush for gold is real. Source: Global Markets Investor
President Trump Unleashes 25% Tariffs On Foreign-Made Auto Imports
"...we are going to charge countries for doing business in our country..." President Trump has announced a 25% tariff on all cars not made in the US. “This will continue to spur growth,” Trump told reporters. Trump confirmed that these new tariffs are in addition to existing tariffs and are expected to result in $100 billion in revenues. To underscore his seriousness, Trump said, “This is permanent.” In addition to the tariffs, Trump discussed his plan to allow Americans to deduct interest payments on cars that are made in America. source : zerohedge
Foreign investors withdrew ~$6 BILLION from US equity funds last week.
This is the the 3rd largest amount on record and in-line with levels seen during March 2020. source : BofA, kobeissiletter
Trump’s economic cycle for the next 4 years?
Source: Not Jerome Powell on X
On March 26, the GDPNow model nowcast of real GDP growth in Q1 2025 is -1.8%
The alternative model forecast, which adjusts for imports and exports of gold, is 0.2%. Source: AtlantaFed
