The stock market continued to decline today, despite vigorous efforts by the authorities. That being said, perspective is required.
Monthly Archives: July 2015
Some Recent Research on Exchange Rates
Here is some interesting work I’ve seen recently in Paris and Cambridge, MA.
Ongoing Developments in China
While eyes are on developments in Greece (and rightly so), I thought it would be useful to spend a moment on the uncertainty regarding the Chinese economy’s course (not that I’m the first to point out).
We Don’t Need No Stinkin’ Open Records Laws (in Wisconsin)
Apparently, we don’t need taxes on tobacco products either! [And Republicans refuse to identify lawmaker behind measure restricting access to legislative records]
I guess William Cronon won’t have to worry any more about having his emails scoured by the Wisconsin GOP. From the Wisconsin State Journal:
Legislative Republicans on Thursday passed sweeping changes to the state’s open records law that would dramatically curtail the kind of information available to the public about the work that public officials do.
The International Aspects of the Employment Release
The headline number for nonfarm payroll employment was decent [1], and although there are worrisome aspects, I think the key take-away is the fact that manufacturing employment is slowing much more than overall. To the extent that manufactured goods proxies for tradables, I think caution is in order with respect to monetary tightening. And yet, I read headlines reporting that the “Fed is on track to raise rates…”[Sparshott/RTE WSJ].