Menzie Chinn
mchinn.bsky.social
Menzie Chinn
@mchinn.bsky.social

Professor of Public Affairs and Economics, University of Wisconsin, and Blogger at Econbrowser. All views are my own.

Menzie David Chinn is a professor of public affairs and economics at the University of Wisconsin–Madison, co-editor of the Journal of International Money and Finance, and a Research Associate of the National Bureau of Economic Research International Finance and Macroeconomics Program. .. more

Economics 93%
Business 4%

PLA military exercises around Taiwan, and geoeconomic risks #EconSky
econbrowser.com/archives/202...

Reposted by Menzie Chinn

Tariffs did little damage to US GDP & inflation in 2025. Explanatn? 1. Govt shutdown derailed late-year stats 2. Trump backed off the most extreme tariffs 3. Importers stockpiled ahead 4. Firms absorbed higher prices, rather than passing on fully to consumers. Probably in 2026.
prosyn.org/2Rk6QVY
Why Haven’t Trump’s Tariffs Crashed the US Economy?
Jeffrey Frankel explains why a disaster deferred in 2025 may not be a disaster denied in 2026.
prosyn.org
Why haven’t Trump’s tariffs crashed the US economy? | Jeffrey Frankel
Why haven’t Trump’s tariffs crashed the US economy? | Jeffrey Frankel
Effects on inflation and employment have not been as bad as feared – but could still materialise with full force in 2026
www.theguardian.com

Reposted by Menzie Chinn

REMINDER: Republicans sent Congress home for the holidays without addressing the health care crisis they’ve inflicted on this country.

Highly variable lags btwn corp profit and bus cycle peaks...#EconSky
econbrowser.com/archives/202...

4.3% q/q AR growth, vs. MAR 0.65 ppts advance to 3rd release; lessons from the 2001 recession #EconSky
econbrowser.com/archives/202...

EJ Antoni on how Heritage Foundation remains a bastion of free-trade economics #EconSky
econbrowser.com/archives/202...

Reposted by Antonio Fatás

Employment v. output indicators #EconSky
econbrowser.com/archives/202...
Tariff offset tax

GDP at 4.3% q/q AR v. consensus 3.3%! But GDO at 3.4%, and GDP+ at 2.6%. "core GDP" at 3.0%, up fm 2.9% in Q3, but below level of Nov SPF #EconSky @atlantafed.org @philadelphiafed.bsky.social
econbrowser.com/archives/202...

GDP +4.3% in Q3, but GDO up 3.3%, and GDP+ up 2.6%. "Core GDP" up 3.0%... #EconSky

James Hamilton: Good news from the GDP report
"The new numbers bring the Econbrowser recession indicator index down to 2.7% ...The latest numbers put to rest the concern that a recession might have started earlier this year." #EconSky
econbrowser.com/archives/202...

Conference Board confidence 2.5 std devn below Nov., Gallup 3 std devn #EconSky

James Hamilton will discuss tomorrow's Q3 GDP "initial release" on econbrowser.com; Bloomberg consensus is 3.3% SAAR #EconSky

econbrowser.com/archives/202...

2025Q3 growth: Atlanta Fed at 3.5%, GS at 3.6%, St. Louis Fed at 0.4% (all SAAR). Nowcasted "Core GDP" growth drops to 2.4% fm 2.9% in Q2 #EconSky @atlantafed.org @philadelphiafed.bsky.social @stlouisfed.bsky.social @newyorkfed.bsky.social #EconSky
econbrowser.com/archives/202...

Reposted by Menzie Chinn

SCOOP-2: Isabela Herrera donated $2.5m to MAGA Inc. on 12/31/2024.

At the time, her father, a Venezuelan-Italian banker, was being prosecuted for bribing Puerto Rico's governor.

In July, Trump's DOJ authorized a misdemeanor plea deal, overruling career prosecutors who had pushed a harsher sentence

Reposted by Michael Kevane

SCOOP-2: Isabela Herrera donated $2.5m to MAGA Inc. on 12/31/2024.

At the time, her father, a Venezuelan-Italian banker, was being prosecuted for bribing Puerto Rico's governor.

In July, Trump's DOJ authorized a misdemeanor plea deal, overruling career prosecutors who had pushed a harsher sentence

Real mfg value added up 1.3% 2025Q2/2024Q4, but employment measures all seem to be now trending downward #EconSky
econbrowser.com/archives/202...

(w/data corrections) Beware the population controls in the household survey derived employment series #EconSky
econbrowser.com/archives/202...

BREAKING: At least 16 files from the Epstein release disappeared from DOJ's webpage, including a photo of Trump, with no explanation.
At least 16 files have disappeared from the DOJ webpage for documents related to Jeffrey Epstein
The Justice Department’s webpage for documents related to sex offender Jeffrey Epstein is missing at least 16 of its files a day after they were released.
bit.ly

Republicans remain largely impervious to economic news. There's only slight erosion of expectations #EconSky
econbrowser.com/archives/202...

Agree, in sense they did it indirectly by not declaring cpi and employment survey workers essential…(but ICE is?)

Thanks, I try to make implications clear…

How "unlikely" was the November core CPI? #EconSky
econbrowser.com/archives/202...

Sahm indicator up assuming 4.5% unemployment rate in October, does *not* breach 0.5% threshold (Thanks to Pawel Skrzypczynski points out an error in my prior calculation!). If unemployment at 4.7% in October, then we'd hit threshold #EconSky
econbrowser.com/archives/202...