From NY Fed: empire state manufacturing survey has biggest drop ever, Apr data was just blip on radar, as expected; new orders plummet, price increases remain, future capital expenditures drop to zero, general conditions near '09 lows, labor still falling – this is Stagflation: pic.twitter.com/dcMG9JFlsk
— E.J. Antoni, Ph.D. (@RealEJAntoni) May 15, 2023
Stagflation
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