Retail woes spread across all price points

Because of yesterday’s monumental news the Richmond Fed President Jeffrey Lacker immediately resigned for leaking Fed information before it was released, I did not write on two huge developments in US retailing that point to the troubling economy. Ralph Lauren — the iconic US retailer — is closing its flagship Manhattan store on 5th Avenue […]

Going hiking with Yellen can be dangerous

To no surprise to anyone on the Street, Janet Yellen raised rates Wednesday by 0.25% to a range between 0.75% to 1.0%. I will not address the two or perhaps three more rate hikes for this year that Yellen spoke of since we do not deal with fantasies here. I had been writing that while […]

The consumer is consumed with dread

The Atlanta Fed updated its projection for 2016 Q1 GDP on Monday. They lowered it to 0.6% from 1.4% on Friday. GDPNow, the Atlanta Fed’s web site, cited first-quarter real consumer spending falling from 2.5%  to 1.8% for the downgrade. If you look at the stocks of retailers you can see how bad the situation […]