Cyclical Labor to Be Further Pressured

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From Amarillo to Amagansett

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Consumer Headwinds Gusting as Defensive Behavior Becomes More Visible

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Saturday Intelligence Briefing — 5.31.25

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Economic Tug of War

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Piling onto the Cautious Consumer Discretionary Narrative

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Heading South to Gauge Cyclical Risks

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Richmond and Dallas Fed Surveys Concur with Fed Minutes’ Recession Warning

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Getting Giddy with Dew and Data

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Yellow Flag Unfurled for Near-term Consumer Spending Prospects

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