The Domestic PMI Picture, Still A Dollar Shortage

By |2019-07-01T12:45:17-04:00July 1st, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

This green shoot didn’t wilt so much as it exploded into a fireball. FRBNY’s Empire State Manufacturing Index had captured the landmine in its initial 2019 readings. Starting from 21.4 (this version uses zero rather than 50 as its dividing line) in November 2018, by January the index had dropped 17.5 points in just two [...]