Tariffs in the Data
From CPI, note the CPI furniture and appliances category:
From CPI, note the CPI furniture and appliances category:
See here and here. Every morning I wake up, think I can’t see anything more crazy than what occurred yesterday, and then I check the news.
The recent undershooting of consensus CPI and PPI has been taken to mean that tariffs have not yet had an impact on prices (e.g., NYT). First, an interesting picture from Truflation:
Macro impact doesn’t seem large according to Yale Budget Lab, but I can hardly wait to see how much a 50% increase in Ozempic and Wegovy prices will go over with the public.
Today, we’re fortunate to have Willem Thorbecke, Senior Fellow at Japan’s Research Institute of Economy, Trade and Industry (RIETI) as a guest contributor. The views expressed represent those of the author himself, and do not necessarily represent those of RIETI, or any other institutions the author is affiliated with.
Today we are fortunate to present a guest post written by Maria Grazia Attinasi, Lucas Boeckelmann, Rinalds Gerinovics, and Baptiste Meunier (all ECB). This column reflects the opinions of the authors and not necessarily those of the European Central Bank.
New working paper from Center for Research on the Wisconsin Economy, by Junjie Guo and Ananth Seshadri. Although they don’t give a one word answer, I’m pretty sure it would be “no”.
And CBO’s January projection:
Going to be some outrageously crazy arguments about the merits of tariffs coming. Just to remind people, higher measured productivity is not one of the plausible outcomes.
From WSJ today: