The Bureau of Economic Analysis reported today that U.S. real GDP grew at a 1.9% annual rate in the second quarter of 2008, less than many analysts had been predicting a week ago, but substantially better than the 6-month-ahead predictions for that number that we were hearing back in January.
Author Archives: James_Hamilton
Due diligence
Tanta caught this story from the Orange County Register:
Oil prices and demand
More evidence of significant changes in the behavior of American consumers.
Oil prices and economic fundamentals
Oil was selling for $123 a barrel on May 7, and that’s where it closed this week. Sounds like a calm and rational market, except for the fact that just last week it was going for $145.
Quarter 2 may come out OK, but challenges remain
At least that’s the assessment of Federal Reserve Bank of San Francisco economist John Fernald (hat tip: Mark Thoma).
New estimates of the high school dropout rate
I was shocked by today’s report that the high school dropout rate in California has reached 24%.
Did Fannie and Freddie cause the mortgage crisis?
Some thoughts about the role played by the GSEs in the run-up in mortgage debt and house prices.
The Fannie and Freddie assistance plan
I see much to like about this.
Fannie Mae and Freddie Mac
How did we get into this mess, and how do we get out of it?
Janet Yellen on risks and prospects for the U.S. economy
This morning we were pleased to welcome Janet Yellen, President of the Federal Reserve Bank of San Francisco, to our UCSD Economics Roundtable. She focused on three main challenges: the housing slump, financial market turmoil, and commodity prices, which she likened to the three witches from Macbeth. Her complete speech is available from the FRB SFO Here are some excerpts.