Having a modern morning — ie both on phones. Me: "Martial law in Korea!" Robin: "I don't see that anywhere" Me: "It's on Bluesky"

This site has arrived

The Fed's preferred measure of underlying inflation, measured over 6 mos at an annual rate, has declined from 4.5 to 2.5 over the past 6 months. So, if underlying inflation can fall almost in half without a major rise in unemployment, in what sense was it "underlying"?

A vicious cycle I'm seeing: if you say anything positive about the US economy, you get huge blowback from (some) readers. This in turn makes reporters reluctant to report good news, or at any rate hide it deep in the article (I've seen this happen), which in turn reinforces the negativity.

Is there any doubt that when we look back in time, everyone will agree that the post-pandemic rise and fall in inflation was a widespread, global phenomenon that had little to do with country-specific explanations?