New stuff being implemented, pardon the dust
Still cleaning up a few layout things. Reports of bugs/errors/suggestions appreciated.
Industrial Production through July 09
That small improvement you see in July was mostly a result of cash-for-clunkers. Expect to see a decline in August #s, as the hangover from a 700,000 car government-sponsored binge hits. From the Cleveland FRB:
The increase was enough to lift its 12-month growth rate off of its current cyclical low of ?13.6 percent in June to ?13.1 percent in July. The rebound was largely due to a huge spike in motor vehicle and parts production, as plants came back on line and the Administration’s CARS program got underway. Excluding autos, manufacturing production rose 1.9 percent during the month.
Fed Loses FOIA Case to Bloomberg
Cheers! Will they squirm out of this somehow? I don’t know. For now let’s celebrate a victory for transparency and honesty in government. Well done Bloomberg.
“The judge said the central bank “improperly withheld agency records” by “conducting an inadequate search” after Bloomberg News reporters filed a request under the Freedom of Information Act. She gave the Fed five days to turn over documents it told the reporters it located, including 231 pages of reports, and said it must look for more at the Federal Reserve Bank of New York, which runs most of the loan programs.”
Analysis:
