Author Archives: James_Hamilton

The economic recovery continues

The Bureau of Economic Analysis announced today that seasonally adjusted U.S. real GDP grew at a 6.5% annual rate in the second quarter. That’s well above the 3.1% average growth that the U.S. experienced over 1947-2019. Kudos to Federal Reserve Bank of Atlanta economist Patrick Higgins, whose nowcast of 6.4% that Menzie highlighted yesterday anticipated today’s release on the nose.
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Flash-mob finance

Modern communication infrastructure can facilitate swift simultaneous action by a large number of people. If used to coordinate a surprise attack, an organized mob can overcome a store or even the capitol building. Is Wall Street the next target?
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