Today, we’re fortunate to have Willem Thorbecke, Senior Fellow at Japan’s Research Institute of Economy, Trade and Industry (RIETI) as a guest contributor. The views expressed represent those of the author himself, and do not necessarily represent those of RIETI, or any other institutions the author is affiliated with.
So be prepared. From Feng, Han, and Li (2023):
Including PPI and nowcasted PCE:
Up for CPI and chained CPI.
Mark Sobel at OMFIF discusses the likelihood of an new Plaza Accord to depreciate the dollar. Given one would need Euro area and Chinese agreement, the assessed likelihood is low
EJ Antoni writes:
Today’s employment data showed further gains in earnings, but cumulative price increases have still far outpaced earnings growth over the last 4 years.
According to the Household Budget Index, it’s even worse when just considering prices for things you have to buy, i.e., food, housing, etc.
From a X post today:
Today, we’re pleased to present a guest contribution by Laurent Ferrara (Professor of Economics at Skema Business School, Paris and Chair of the French Business Cycle Dating Committee).
Here are some key indicators followed by NBER’s BCDC, including employment for November (227K vs. 202K consensus, 194K vs. 160K consensus, for NFP, and private NFP respectively).