Shocker in PPI: 0.9% vs. 0.2% m/m consensus:
Business Cycle Indicators w/Monthly GDP
SP Global’s monthly GDP series is up (with prediction of flat GDP in Q3):
Additional Thoughts on EJ Antoni’s Nomination to BLS
Thanks to Paul Krugman for citing my brief paper on EJ Antoni’s 2022 recession claim, in “Hackification”, all in the cause of exposing the abuses of data now taking place.
“America in Recession since 2022? A Critique of Antoni-St. Onge”
“Trump’s pick for BLS commissioner suggests suspending the monthly jobs report”
From CNN today:
“Until it is corrected, the BLS should suspend issuing the monthly job reports but keep publishing the more accurate, though less timely, quarterly data,” he told Fox Business. “Major decision-makers from Wall Street to D.C. rely on these numbers, and a lack of confidence in the data has far-reaching consequences.”
Import Sensitive CPI Components, Core PCE Nowcast Rise
From the CPI release today:
CPI Print Tomorrow
Bloomberg, Truflation at 2.8% y/y; Cleveland Fed at 2.72%.
Trump Nominates EJ Antoni to BLS Commissioner
From CNBC:
Banking on Data Center Investment
Let’s hope capex investment in data centers is sustained.
Guest Contribution: “Cryptocurrencies and the political economy of money”
Today we are pleased to present a guest contribution by Mark Copelovitch (University of Wisconsin – Madison) and Thomas Pepinsky (Cornell University).