At the press conference for today’s FOMC meeting, there was a lot of talk about how the 50bps drop was dramatic. That focused on the change, rather than the level…Consider what some measures of the Taylor rule (which refers to the level of the Fed funds rate) indicate.
Summary of Economic Projections: GDP
From the Fed today:
Ten Year Treasury Yields, Dollar Index Down
Apparently some news:
Instantaneous Headline Inflation: CPI, PCE, HICP
With US HICP out today:
Steve Kamin: “The Fed Is (Nearly) the World’s Most Hawkish Central Bank”
From the article (published 9/10), two key graphs:
GDPNow at 3% for Q3
Goldman Sachs tracking 2.8%.
Monthly Median Income
From Motio Research, August 2024:
Business Cycle Indicators for August – NBER BCDC and Others
With the industrial production release today (+0.8% vs. +0.2% m/m consensus), we have the following picture of key series followed by the NBER’s BCDC:
FT-Ross/Michigan Poll on Views of Candidates’ Economic Policies
Who would do better, according to the FT today:
Guest Contribution: “Impact of Climate Risk on Fiscal Space: Does Political Stability and Financial Development Matter?”
Today we are pleased to present a guest contribution by Jamel Saadaoui (University Paris 8).