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E.J. Antoni reports that the Chicago Federal Reserve finds national financial conditions in the U.S. loosened slightly last week after accounting for macroeconomic adjustments.
He highlights that overall conditions remain little changed from a year ago, as lower risk within the index has offset an increase in leverage.
Antoni recently noted that U.S. utility prices have fallen 1.5% since the Iran war began, attributing the decline to factors such as a natural gas surplus and limited exports. In April, he reported that the Dallas Fed’s trimmed mean PCE inflation rate eased to 2.3%, showing mixed short-term trends. These updates provide recent context for the current assessment of national financial conditions.