Submitted by CARPE DIEM

WASHINGTON (Reuters) - Retail sales were solid in November as the holiday shopping season got underway, but a good portion of consumer dollars went to higher-priced gasoline.
WASHINGTON (AP) - It was the biggest sales advance in six months and reflected widespread strength in a number of areas from department stores to […]

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Submitted by CARPE DIEM

According to a report today from the U.S. Census Bureau, retail sales in the U.S. surged to $385.7 billion in November, a 1.2% gain from October. The monthly sales increase of $4.66 billion was the largest sales increase in U.S. history for the month of November, breaking the previous record of a […]

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Submitted by Businomics Blog
We kept spending last month. I bought a new boat (but a very small one), and the rest of you kept up with me.

Last month’s sales were pushed up by high gasoline prices, but the non-gas spending held up. Several of the categories with solid gains were discretionary sectors, such […]

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Submitted by Econbrowser
Will a new, improved discount window solve our problems?
Yesterday, the Federal Reserve announced that it would (1) reduce its target for the fed funds rate by 25 basis points, lowering the target from 4.5% to 4.25%, and (2) reduce the interest rate it charges for borrowing from the Fed discount window by 25 […]

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Submitted by CARPE DIEM
1. NY Times: A soaring economy and crumbling trade barriers are making India a “must visit” destination for foreign politicians and executives. They all hope to sign deals, find local partners, sell their wares or just soak up the contradictions that characterize the world’s largest democracy, a singular melding of chaos and […]

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Submitted by A Dash of Insight
The Fed’s announcement of a “term auction facility” (TAF) caught the market by surprise this morning, despite the advance leak of likely moves which we reported yesterday. Those unwilling or unable to trade in the off-hours market missed the big initial rally.
We think the timing of the Fed action […]

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