The Bureau of Economic Analysis announced today that U.S. real GDP grew at a 1.2% annual rate in the second quarter. Not good news.
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Never Were Truer Words Said
“I am the king of debt. I do love debt. I love debt.” -Donald J. Trump, May 2016 (WaPo)
Guest Contribution: “Trump Jr.’s Pants-on-Fire Allegation of Manipulated Jobs Numbers”
Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers.
UK Yield Curve Flattening: “Nothing to do with Brexit”?
Tracking US GDP ex.-Government
Political Calculations makes some more ([1], [2]) elementary errors with chained quantities, to arrive at incorrect — and misleading — measures of real GDP excluding government consumption and investment.
Heckuva Job, Nigel!
UK PMI collapses. Term spread moves toward inversion.
Wisconsin Employment: Five and a Half Years of Governor Walker
Wisconsin nonfarm payroll (NFP) employment is 63.2 thousand below what historical correlations with national employment would imply.
“Central Banks at a Crossroads: What Can We Learn from History?”
That’s the title of a book commissioned by the Norges Bank on the bicentennial of the Bank’s founding, and edited by Michael D. Bordo, Øyvind Eitrheim, Marc Flandreau and Jan F. Qvigstad (published by Cambridge University Press). Here’s the table of contents:
Guest Contribution: “Brexit, Trump, and Workers Left Behind”
Today, we are pleased to present a guest column written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. This is an extended version of a column appearing at Project Syndicate, July 13.
Helicopter money
Despite aggressive actions by central banks, many of the world’s economies are still stagnating and facing new shocks, leading to renewed calls for helicopter money as a serious policy prescription for countries like Japan and the U.K.. And, if things go badly, maybe the United States?
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