Foxconn in Wisconsin +5:
Notes: Mount Pleasant, WI, August 2023. Source: WaPo.
Divisia Money Measures: Resurrecting the Quantity Theory?
Reader Econned, in response to my posting of pictures of M2 divided by real GDP, and the GDP deflator, castigates me for the use of conventional monetary aggregates:
M2? This is a pitifully disingenuous post – those who see value in QTM use a divisia index as the monetary aggregate. And you know this.
The Return of the Economic Undead
One shows that they are economic fraudsters over and over, with discredited ideas, but they keep on coming back. From WaPo:
…his top economic advisers … to map out a trade-focused economic plan for his presidential bid…. including former senior White House officials Larry Kudlow and Brooke Rollins, as well as outside advisers Stephen Moore and former House speaker Newt Gingrich…
US GDP Deflator, Broad Money, and Velocity
Some pictures, for those who believe in the constant or trend velocity Quantity Theory for the US.
Defending the Ruble
Interest rate up. Presumably more intervention, and reconstituted capital controls — although it’s hard to tell. So, when you see the picture of the ruble rebound…
Russia’s Current Account Surplus Disappears
BOFIT also notes the ruble’s weakening. Here’s a picture of the CA through June.
Guest Contribution: “The drivers of market-based inflation expectations in the euro area and in the US”
Today, we are pleased to present a guest contribution written by Christian Hoynck [1] and Luca Rossi of the Bank of Italy. The views presented in this note represent those of the authors and do not necessarily reflect those of the Bank of Italy.
Guest Contribution: “The crypto cycle and US monetary policy”
Today we are fortunate to present a guest post written by Natasha Che, Alexander Copestake and Davide Furceri (all at the International Monetary Fund) and Tammaro Terracciano (IESE Business School, Barcelona). The views expressed in this paper are those of the authors and not necessarily those of the institutions with which they are affiliated.
Guest Contributions: “Energy shocks and core inflation in the US and in the Euro Area: this time is different”
Today, we are pleased to present a guest contribution written by Kevin Pallara, Luca Rossi, Massimiliano Sfregola and Fabrizio Venditti of the Bank of Italy. The views presented in this note represent those of the authors and do not necessarily reflect those of the Bank of Italy.
China Downside Surprises
And PBoC acts. Data accessed 9:30pm Central.