This week’s GDP and employment numbers were a pleasant surprise. Should this cause the Fed to change its warning in Wednesday’s FOMC minutes that
the pace of economic expansion will likely slow in the near term.
Some Observations on the GDP Release
The BEA’s NIPA release had some surprises for many. Here are some aspects of the release that I find surprising.
GDP up, recession probability down
Fret as we all might, the U.S. economy just keeps on growing.
Does Dollar Weakness ‘Cause’ High Oil Prices?
There’s an idea floating around that asserts that the high price of oil is — at least in part — due to the weak dollar. Does this make sense?
The Salem witch trial of Elizabeth Jackson Howe
For Halloween I could perhaps write something about what’s spooking the Fed as they contemplate tomorrow’s fed funds rate decision. But I decided instead to write about the Salem witch trials.
Econoblogger at work
Cute pic from the Curious Capitalist.
$90 a barrel: Is it time to start worrying about the oil price shock of 2007?
Oil shocks in 1973, 1979, and 1990 were each followed by a recession. But we saw the price of oil climb from $20 a barrel in 2002 to $75 a year ago, and so far it has not resulted in a significant economic downturn. What’s different now, and can we count on it to continue?
Have Net Exports Ever Prevented the U.S. from Going into Recession?
First, a look at what the blogosphere is thinking about recession.
Why is oil above $90?
The answer is pretty simple, really– demand keeps going up but supply doesn’t.
Still fighting the rear guard action against reality
From the New York Times (reg.req.):
White House Cuts to Climate Testimony Raise Questions
An example of one of the changes made to Julie L. Gerberding’s testimony. Source: NYT.
