* More rate hikes expected what does today’s US inflation data say?
* Possible UPS Strike would be “disruptive” to the US economy
* The automotive industry is preparing for contentious talks with the unions
* The demand for lithium and other critical minerals is increasing, The IEA says
* Housing market may be close to the inflection point as prices look set to skyrocket
* Variations to measure inflation stir up the debate on which metrics are the best
* World expected consume more oil than it produces in 2023
* The US dollar index is trading near the lowest level in more than a year:
Admit it – the recession forecasts were wrong, writing economist Scott Sumner. “You predicted a recession and it didn’t happen? Are you about to be interviewed by CNBC? Fear not, you can still say there has been a “continuing recession”. It’s like a free get out of jail card,” he says on his blog TheMoneyIllusion.com. “Sliding recessions do not exist. The fact that weakness in housing was followed by weakness in manufacturing and then some layoffs in tech means nothing if the overall economy continues to thrive. Claims of continued recessions are simply used as an excuse for failed macroeconomic forecasts that stem from bad models.
