Preliminary readings for August. Not particularly good.
Figure 1: One year ahead CPI inflation expectations, % (blue, left scale), Consumer Sentiment (red, right scale). Dashed line at “Liberation Day”. Source: U.Michigan.
5 year inflation expectations at 3.9% were up from 3.4%, and above the consensus 3.4%…
Speaking of Midwestern universities engaging in research:
https://www.compactmag.com/article/the-crisis-of-the-university-started-long-before-trump/
Y’all know about U Chicago’s dedication to a certain style of economic thining, right? Well, that private-interest-over-public-interest way of thinking showing up outside the economics and law faculties. If the university trust had simply gone long equities, that would have worked out pretty well. Self-dealing on privatization of research, on the other hand, has proven laughably bad decision-making in many cases. Students pay the price.