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 […]

The Fed’s dual mandate is now a tri-party bail out

On Friday the 2nd revision to the Q1 GDP number came in at 0.8% annualized versus 0.5%, which was the first read. We get the last look at the end of June, although the number is revised further after that. The robust retail sales numbers that Commerce allegedly saw and reported last month did not […]