A paper (Nov. 2024) (first version Oct. 2024):
Author Archives: Menzie Chinn
“Trump’s pick for BLS commissioner suggests suspending the monthly jobs report”
From CNN today:
“Until it is corrected, the BLS should suspend issuing the monthly job reports but keep publishing the more accurate, though less timely, quarterly data,” he told Fox Business. “Major decision-makers from Wall Street to D.C. rely on these numbers, and a lack of confidence in the data has far-reaching consequences.”
Import Sensitive CPI Components, Core PCE Nowcast Rise
From the CPI release today:
CPI Print Tomorrow
Bloomberg, Truflation at 2.8% y/y; Cleveland Fed at 2.72%.
Trump Nominates EJ Antoni to BLS Commissioner
From CNBC:
Banking on Data Center Investment
Let’s hope capex investment in data centers is sustained.
Guest Contribution: “Cryptocurrencies and the political economy of money”
Today we are pleased to present a guest contribution by Mark Copelovitch (University of Wisconsin – Madison) and Thomas Pepinsky (Cornell University).
Stock Market Capitalization ex-Magnificent 7
Courtesy of Ed Yardeni:
Equipment and Structures Investment
We’re about halfway into Q3. Nowcasts put equipment and structures investment — particularly forward looking investment — at near flat relative to Q2.
If You Believe the CPS Employment Series Turns Down before the CES, Be Afraid
Personally, I’m not convinced, but if you are, then consider this graph: