78 “Games of Chicken”: The debate over increasing the debt ceiling has been described a “Game of Chicken” after the contest where two hot rods approach each other at high speed with the “chicken” being the driver who veers away at the last second, avoiding a catastrophic head on collision. Applied to debt ceiling drama, the drivers are the Biden Administration and Republicans controlled House. ITR Economics Connor Lokar reminds us that this version of “Chicken” has been played 78 times since 1960 and offers some insights in a short video “Let’s Talk About the Debt Ceiling”.
Fed Watch: ITR Economics CEO Brian Beaulieu’s Weekly “Fed Watch” offers a 6-minute overview of credit tightening, the money supply, retail sales and inflation expectations.
Clouds and Silver Linings: Economist Brian Wesbury is usually an optimist, but he sees “clouds” inside “the silver linings” of recent reports on new single family homes, real GDP growth, durable goods orders and personal income. Read the one most applicable to your business.
