A self test (a follow up to this post):
Are You a Mainstream (Macro) Economist?
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When You Hear a Critique of Mainstream Economists (from Someone Who Doesn’t Know What “Mainstream” Economists Do), Run
“Trumpflation” Risks Likely Overstated by Lance Roberts via Zerohedge:
The Return of Economic Policy Uncertainty
Not that it ever disappeared completely. But expect the EPU to rise as the tariffs start flying, and the deportations begin.
Structural Breaks in the Term Spread-GDP Growth Relationship
Following up on the examination of what the term spread predicts, here’s the slope coefficients for the term spread, in regressions augmented with short rate, from 1946-2023Q3 (GDP growth 1947-2024Q3).
Prediction Markets Moving on “News” (on One Poll)
Apparently, one poll in Iowa has moved PredictIt. Harris v Trump, 52-53 now flipped to 57-50.
UMich Sentiment Catching Up with the (Good Economic) News?
From TradingEconomics on 10/25:
Prediction Markets, FWIW
Reversion, seen over the past month. Why? Unclear given small movements in swing state polls.
Son of ShadowStats: “Government economic figures hide the truth about the economy”
Heritage Foundation EJ Antoni channels ShadowStats:
“Government economic figures hide the truth about the economy…” Thang [sic] you,
@mises , for highlighting a recent paper @profstonge and I wrote that explains how inflation has been greatly underestimated – read the article by @RonPaul here:
https://t.co/cVroe5QwCT
This plane has landed safely
The Bureau of Economic Analysis announced today that seasonally adjusted U.S. real GDP grew at a 2.8% annual rate in the third quarter. That’s close to the long-run historical average of 3.1%. With inflation coming down, I think we now can declare that the Fed has achieved the admirable but difficult objective of a “soft landing” — bringing inflation down without tipping the U.S. into recession.
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Steven Kamin & Benedict Clements: “The Biden-Harris Macroeconomic Record Is Getting a Bum Rap”
From AEI: