Long-term interest rates continue to creep up.
Trends in Dollar Reserves
Latest data
The Full Employment Budget Surplus
The CBO’s latest estimates
Learning the new Fedspeak
Curious reaction from both markets and pundits to yesterday’s statement from the FOMC accompanying the decision to boost the fed funds rate another 25 basis points.
Chinese revaluation
What would be the important effects?
Facing the immigration question
Andrew Samwick had an extremely thoughtful post this weekend.
The dollar and purchasing power parity
In my post on the dollar’s trajectory, one person asked about purchasing power parity (PPP). Here is a brief discussion of the relevance of this concept to exchange rate forecasts.
Postscript to “Critique of Pure Dark Matter”
Mixed news for 4th quarter net income in the current account release
The politics of the deficit
Congress squawks about the horrible debt and then adds even more red ink.
Inflation concerns
The Bureau of Labor Statistics reported that inflation as measured by the seasonally adjusted consumer price index for all urban consumers rose only 0.1% in February (a 1.2% annual rate), down from 0.7% (an 8.4% annual rate) in January. Those who view the monthly CPI as the most important inflation indicator breathed a sigh of relief, perceiving the economy to have lurched from hyperinflation back to price stability within the space of 30 days.