BEA released figures today. From the release:
Trade Sanctions on Use of Forced Labor in China
From Reuters:
Lumber Prices
A wild ride for futures means…
The Delta Variant and Prospects for Economic Activity
From Washington Post:
The unusually contagious delta coronavirus variant, first found in India, could become the dominant strain in the United States this summer, Centers for Disease Control and Prevention director Rochelle Walensky said Friday.
The Five Year Inflation Breakeven, the S&P500 and the Dollar
The S&P 500 dropped 1.3% on Friday; many accounts attributed the drop to Fed statements indicating an accelerated pace of rate hikes (especially Bullard’s comment), presumably in response to prospects for higher than previously anticipated inflation. Interestingly, market indicators on Friday are not supportive of that interpretation.
Wisconsin Economic Activity in May
Employment numbers for May were released for today.
Guest Contribution: “Globalisation and the Efficiency-Equity Trade-off”
Today we are pleased to present a guest contribution written by Roland Beck, Virginia di Nino and Livio Stracca (all at the European Central Bank). The views expressed belong to the authors and are not necessarily shared by the institutions to which the authors are affiliated.
One Year CPI Inflation Expectations
The FOMC has upped its expectations of PCE inflation [Politico] [CR]. Here’s latest available CPI inflation expectations.
Business Cycle Indicators, Mid-June (and Retail Sales)
Industrial production was released yesterday, along with retail sales.
A Monetarist Manifesto for the Covid-19 Era
Juan E. Castañeda (Director) and Tim Congdon (Chairman) of the Institute for International Monetary Research at the University of Buckingham write today: