Average hourly wages in construction, production and nonsupervisory workers, in 2023$ (CPI deflated):
If You Thought Construction Costs Were High, Wait for Mass Deportation
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If You Thought Grocery Prices Were High, Wait for Mass Deportation
Wages for farm workers and food processing will likely rise, if the past is any guide.
MacIver Institute Does International Trade: Be VERY Afraid
Seizing Russian Assets: If Not Now, When?
From Hess and Mott, in Foreign Policy, on stifling further Russian aggression even with Trump on the gates:
Trump: “Tariffs are going to make our country rich”
From Reuters:
In an interview with NBC’s Meet the Press that aired on Sunday, Trump said he did not believe that consumers ultimately pay the price of tariffs, adding “I think they’re beautiful.”
Eggs
Guest Contribution: “The Diminishing Impact of Exchange Rates on China’s Exports”
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.
US Tariff Pass-Through on Chinese Imports Is High
So be prepared. From Feng, Han, and Li (2023):
Instantaneous Core and Supercore Inflation for November
Including PPI and nowcasted PCE:
Instantaneous Inflation in November (and October)
Up for CPI and chained CPI.