One of the great things about the manufacturing surveys conducted by the regional Federal Reserve banks is that they often include anonymized commentary from factory executives. And nowhere are the comments more engaging than those in the report from the Federal Reserve Bank of Dallas.
“There is a decline in optimism with regard to the business climate as well as our ability to stabilize it. The loss of domestic tranquility, the irresponsibility of governors and the Biden administration, and the loss of common defense and border security will have long-range and far-reaching consequences,” one executive at a Texas food manufacturer wrote into the Dallas Fed for the September survey.
“We are living in Alice in Wonderland … it just gets worser and worse,” wrote an executive in the Lone Star State’s machinery manufacturing sector.
The is a far cry from the toned down…
