Wisconsin End-of-2023 Surge

From BEA state level data released on Friday. GDP grows 4.2% SAAR, Chained CPI deflated wages and salaries by 1.9%; Year-on-Year, 1.5% and 3.0% respectively.  While NFP only grew 0.9% q/q AR, the Philadelphia Fed’s early benchmark measure of NFP grew 1.5%.

Continue reading

Guest Contribution: “The Historical Puzzle of US Economic Performance under Democrats vs. Republicans”

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. A shorter version appeared at Project Syndicate.  I thank Sohaib Nasim for research assistance and Emil Kaneti for catching a mistake in an earlier draft.


Continue reading