Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. A shorter version in Project Syndicate.
If previous trends hold:
CPI – headline vs. CPI for wage earners and clerical workers:
Donald Trump forces me to learn another obscure trade remedy (from the 1930’s). I’m pretty certain this will not achieve any economic goals, and yet sustain economic and trade policy uncertainty.
From EIA today:
As of 6:30pm CT:
The timing seems off to me, as on apparent new news within the last hour (as of 4pm CT)…
Oil futures jumped on Friday, presumably will again today — but with refining capacity down, the number(s) to watch might be for refined products (given damage to refineries especially in Russia). Here’s Brent futures (black line) vs NY Harbor RBOB gasoline (brown line), for September:
As expectations of SoH reopening decline.