Daily Trivia
October 16, 2026
Chart of the Day
Number of the Day
24.3
The yearly percentage change in the core unprocessed PPI in September, the fastest annual pace since mid-2022
Quote of the Day
“I don’t prejudge meetings. I don’t believe in saying now what I might do at the meetings that we have in the balance of this year.”
Federal Reserve Chair Kevin Warsh
Thursday’s Highlights
Initial unemployment claims (week of 10/4) ticked up by 1,000 to 199,000.
The PPI (September) rose by 1.3 percent on the month and 6.3 percent year-over-year.
The core PPI (September) rose by 0.7 percent on the month and 5.0 percent year-over-year.
Retail sales (September) rose by 0.8 percent overall and 0.1 percent in the core control group.
The Philadelphia Fed manufacturing index (October) fell to 20.9 from a prior 37.8.
Business inventories (August) moved up by 0.4 percent. Sales jumped 1.1 percent.
Quick Commentary
Retail sales can be quite volatile on a month-to-month basis, so the soft increase in the core categories in September may simply represent a pause after a strong run through most of the year thus far. The weaker numbers last month do jibe with the qualitative assessment in the Fed’s Beige Book earlier this week, however, as well as with the ongoing pressure on real income growth given the recent pickup in inflation. Moreover, the PPI numbers suggest that the current wave of price pressures has not quite run its course yet, as goods at the earliest stages of production, especially, are still recording sizeable increases. The prevailing trend may not be quite enough to cement a rate hike this month -Warsh’s largely neutral comments yesterday at least hint at a pause- but it is for now strongly pointing to another move by the end of the year.
Today’s Highlights
Industrial production
Import prices
Daily Trivia
What popular consumer product is named after Genoa, Italy due to the city’s importance as an international textile trading hub?
(Thursday’s Question: Where did Chipotle launch a new location in October 2021, offering free burritos to the first 30,000 visitors per day who arrived in costume over the last four days of the month? Answer: Roblox)