As of September 4th, enhanced unemployment benefits were ended in Wisconsin. What do the latest data reveal?
Wisconsin Employment in October
DWD released October figures today.
Business Cycle Indicators, Mid-November
With the rebound in industrial production, and upward revisions in nonfarm payroll employment two weeks ago, key indicators look a little better than last post on this subject, a month ago.
Supply Chain Delays – Supply or Demand
As has been noted, the surge in goods demand is part of the story for why shortages and price pressures have mounted. Here’s another illustration.
Brent vs. WTI
In thinking about benchmarks, does it matter right now which oil price to refer to? Jim H. and others have noted Brent is a more appropriate benchmark for gasoline prices.
Oil Price Futures and Forecasts
Here’s a picture of Brent (monthly average of daily data) through October, and futures.
Hyperinflation, Illustrated
Phillip Cagan (1956,“The Monetary Dynamics of Hyperinflation”. Studies in the Quantity Theory of Money,” edited by Milton Friedman (1956), pp.25-1) defined hyperinflation as inflation in excess of 50% per month (or about 13,000% annualized).
Some Useful Terms in Economics
There are some terms used on this blog that provoke some confusion. Here are some quick definitions that might help some readers.
Oil Price Pass Through into Gasoline Prices
From Hakan Yilmazkuday, “Oil Price Pass-Through into Consumer Prices: Evidence from U.S. Weekly Data”, forthcoming in JIMF:
Latest One Year Horizon Inflation Expectations
Michigan (preliminary) remains high and NY Fed rises 40 bps; both are consumer based. Cleveland Fed forecast is lower than in September.