Like what Freddie King sang (Taking place), we’re happening the drain.
Export costs by finish us YoY is as much as 18.8%, the best in recorded historical past (or since 1983 after they began recording export costs).
Import costs by finish use rose to 12.5% YoY.
Unrelated to US export and import costs, the MBA’s mortgage credit score availability index slumped with the Covid outbreak and the explosion of The Fed’s Steadiness Sheet. As I’ve stated earlier than, nothing has been the identical since Covid.
Like Freddie King, “I’m Feeling Torn Down” by rising costs.