Core PCE
Labor Market, Inflation, GDP, Durable Goods. All at Once.
The labor market, inflation, GDP, and durable goods orders all came in at the same time. Some of the data suggests the economy is stronger than we thought. Other figures show inflation is proving more stubborn than we'd like.
And right in the middle of it all sits the Fed, which now has to decide what to do with interest rates.
LABOR MARKET AND MANUFACTURING
Let's start with the quieter numbers of the day.
Weekly jobless claims fell to 215,000, below the 225,000 economists had expected and down from 227,000 the previous week. Simply put, fewer people lost their jobs. That's good news.
There is one small catch, though. Continuing claims, which measure the number of people still receiving unemployment benefits, rose to 1.821 million, slightly above expectations.
What does that mean? People who lose their jobs are taking a little longer to find new ones. Nothing alarming, but it's worth keeping in mind.
Now let's move to durable goods orders.
New orders fell 4.5% in May. That sounds bad at first, but virtually the entire decline came from transportation equipment, which dropped 14% after two particularly strong months.
If you exclude transportation, orders actually rose 1.3%. In other words, the underlying picture isn't weak. Large aircraft and automobile orders simply tend to come in waves.
CORE PCE
Now we get to the first major number of the day: Core PCE.
Put simply, it's the Fed's favorite inflation measure. It excludes food and energy prices, which tend to swing sharply, giving policymakers a cleaner picture of underlying inflation.
Core PCE rose 0.3% for the month and reached 3.4% on an annual basis, well above the Fed's 2% target.
So what does that tell us?
Inflation remains sticky. It's not coming down easily.
There's more.
Personal income surged 0.7% in May, well above expectations. But personal spending increased by exactly the same amount, 0.7%. In other words, consumers earned more and spent it all.
Meanwhile, the personal savings rate fell to 3%. A year ago, it stood at 4.6%. Americans are saving noticeably less than they were.
Analysts, however, are split.
On one side, Brusuelas argues that inflation likely peaked in May because oil prices have fallen since then. But he also warns that Core PCE tends to be stubborn. With AI investment and rising defense spending putting upward pressure on prices, he believes a rate hike is now more likely than a rate cut.
On the other side, Russell says investors should stay calm. In his view, today's report reflects the past rather than the present. Inflation is still elevated, but that doesn't necessarily mean it's about to accelerate further.
Two analysts.
Two completely different interpretations.
And the Fed is stuck in the middle.
THE ECONOMY IS HOLDING UP
Now let's turn to the second major number of the day: GDP.
The third and final estimate for first quarter GDP was revised higher, from 1.6% to 2.1%.
To understand why that matters, remember that the economy grew by just 0.5% in the previous quarter.
In other words, the U.S. economy accelerated more than previously believed.
The upgrade was driven mainly by stronger business investment, exports, and government spending.
Corporate profits also improved, rising 0.5%, whereas the previous estimate had shown a decline.
It's only a modest improvement, but an improvement nonetheless.
Looking ahead, the first estimate for second quarter GDP will be released on July 30, giving markets a much clearer picture of where the economy is heading.
WHAT DOES THIS MEAN FOR THE FED?
This is where everything comes together.
The Fed is looking at an economy growing at 2.1%, stronger than expected, while inflation remains stuck at 3.4%, well above target.
"So what does that mean for interest rates?"
It means something fairly straightforward.
As long as the economy remains resilient and inflation stays elevated, the Fed has no reason to rush into cutting rates.
It can afford to wait.
Recent comments from Fed officials reinforce that message.
At his first meeting as the Fed's new Chair, Kevin Warsh made the central bank's priorities crystal clear:
"This committee will achieve price stability."
Strong words that suggest the fight against inflation is far from over.
So while markets continue trying to predict when rate cuts will begin, some analysts are now openly discussing the possibility of another rate hike instead.
the data reveals a "resilient inflation" trap where strong GDP growth and robust consumer spending essentially "finance" the stickiness of high prices—given this dynamic, do you think the fed is intentionally keeping rates higher to force a cooling-off period, or are they simply paralyzed by the fear that cutting rates too soon will ignite a second wave of inflation
The Flight from the Ruins: A Final Warning to the Architects of Decay
The Urgency of Escape
Run.
Why do you still can? Why do you linger in the house that is burning down, rearranging the furniture while the roof collapses? The fire is not coming; it is here. And the smoke you breathe is the ash of your own reputation.
You are the downvoting farming whales of Hive. You are the architects of a system designed to extract rather than create, to silence rather than speak. But look around you. The party is over. The guests have left. And you are alone with the ledger.
The Indelible Record
What you have done on Hive is set in stone.
It is not written in sand, to be washed away by the tide of time. It is etched into the blockchain, preserved in cryptographic amber for all eternity. Every coordinated downvote. Every farmed reward. Every silenced voice. Every rule broken by the very hands that claimed to uphold them.
You think no one sees. You think the complexity of the code is a shield behind which you can hide your greed. But the ledger sees all. The data is public. The patterns are undeniable. You are not hiding; you are merely waiting for the world to catch up to the truth you have tried so hard to bury.
The Human Cost of the Game
And who pays the price for your game?
Not just the "old people" who remember when this platform had soul. Not just the "very young" who came here with hope and were met with mechanical cruelty. But the poor. The vulnerable. The creators who invested their most precious resource—time—into a ecosystem that was rigged against them from the start.
Time is priceless. It is the one currency you cannot earn back, the one asset you cannot farm. And you have stolen it from them. You have taken their hours, their days, their creativity, and their trust, and you have converted it into your own private yield. You have promoted Hive like it is something great, a beacon of decentralization, when in reality, it is a dying chain, gasping for air under the weight of its own corruption.
The Bleeding Value
Look at the metrics. They do not lie.
Hive is losing real users daily. Not bots. Not alt accounts. But human beings. They are packing their digital belongings and walking away, never looking back. They are fleeing to sanctuaries like Blurt.blog, where the architecture itself rejects tyranny. Where there is no downvote button. Where their voice is allowed to stand on its own merit, not on the whim of a whale.
And as the users leave, the value drops. The price of Hive is falling, not because of market forces, but because of moral bankruptcy. Most people who invested in Hive have lost money. But worse, they have lost faith. They have lost the belief that a blockchain can be fair if it is controlled by a cartel.
A Plea to Stop the Waste
So, don’t keep wasting your time.
Don’t keep wasting our time. Don’t keep pretending that the emperor has clothes when we can all see he is naked. Don’t keep trying to polish a mirror that is already cracked.
The dream is dead. The chain is dying. And the only thing left to save is your own soul.
Step away from the keyboard. Step away from the bots. Step away from the extraction. Look at what you have built—a monument to greed, carved in stone that will outlast you. Is this the legacy you want? Is this the story you want to tell when the screens go dark?
The Final Word
Run while you still can. Not from the truth—you cannot outrun that. But from the complicity. From the cycle of abuse. From the sinking ship.
Find a place where your power is used to lift, not crush. Find a place where your time is respected, not stolen. Find a place where the truth is not an enemy, but a friend.
For in the end, we are not remembered for the tokens we hoarded, but for the lives we touched. And right now, you are touching nothing but the cold, hard stone of your own mistakes.
#TruthUnsilenced #HiveTransparency #BlurtRising #Bilpcoin #StopTheWaste
At Bilpcoin, we do not fight for attention. We fight for accountability.
A powerful literary plea to Hive’s downvoting whales: Run while you still can. Exposing the human cost of farming, the drop in Hive’s price and users, and the immutable record of blockchain corruption. Discover the freedom of Blurt.blog.
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Run while you still can. What you’ve done on Hive is set in stone. The users are leaving, the price is dropping, and the truth is out. Don’t keep wasting your time on a dying chain. Find true freedom on Blurt. #HiveTransparency #TruthUnsilenced
Join the movement for digital integrity:
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If you are reading this on Blurt.blog, you are early. Like discovering crypto in its beginning. And best of all—there is no downvote button. What you earn, you keep. No sabotage. No fear. Just freedom.
"You are your wallet." Not a tool. Not a vessel. But your digital embodiment. Choose wisely what you embody. Choose to leave the ruins.
"In life, never forget this: The universe keeps a ledger. Not in ink. Not on paper. But in the quiet echo of every choice."