Recognizing important economic relationships allowed us to see inflation coming back in 2021. Today, they strongly suggest a sharp slowing of inflation ahead.
Last week, the Bureau of Labor Statistics (BLS) released data showing that the United States economy added 263,000 jobs in November. Some, such as Senator Elizabeth Warren, saw this as unequivocally good news:…
“What I shall argue”, writes Lorenzo Forni in The Magic Money Tree, “is that the main principles of economics remain unchanged; it is only the circumstances in which they operate…
If you cleared $1,661 in your semi-monthly paycheck on November 1, 2021 (the take home for the average salary in Minnesota), then, thanks to inflation, you would need to clear…
While writing a recent post about how Minnesota’s economic growth is below average, I was struck by the diverging post-COVID-19 growth rates of our neighbors. As Figure 1 shows, from…
Today the Bureau of Labor Statistics (BLS) released data showing that the rate of inflation for October was 0.4%. This was the same as the rate for September; even so…
In an article summarizing the economic policies of Tim Walz and Scott Jensen — candidates in tomorrow’s gubernatorial election — Dave Orrick writes for the Pioneer Press: The Federal Reserve…
On Friday, the Bureau of Labor Statistics (BLS) released data showing that the United States economy added 261,000 jobs in October. Some, such as Treasury Secretary Janet Yellen, saw this…
Last week I submitted an op-ed to two of the state’s major opinion platforms correcting some of the egregiously false statements made recently about Minnesota’s economy. Both declined to run…
Yesterday, President Biden said: Each of these is misleading. I should preface this by saying that, to some extent, that depends on what period you are referring to. As Figure…
DFL Chair Ken Martin tweeted today: He appears to be quoting an article by Robert J. Shapiro in the Washington Monthly which states: Bureau of Economic Analysis (BEA) data tells…
Inflation came in at 0.0% in July, prompting President Biden to tweet: Alas, in August it ticked up to 0.1%, although some of Minnesota’s media still tried to tell you…
Last week, U.S. News reported: ‘Stocks Slump on Fears About Rates, Recession After Jobs Data‘. Was it bad data? No, quite the contrary: Good news on the economy remains bad…
Last week’s jobs report estimated that Nonfarm payrolls increased 263,000 for the month, compared with the Dow Jones estimate of 275,000. This prompted the usual round of celebrations from people…
Last week, at the unveiling of his official White House portrait, President Obama said to President Biden: Thanks to your decency and strength, maybe most of all, thanks to your…
Last month, President Biden responded to the July inflation data – which showed the Consumer Price Index (CPI) flat over the month – by tweeting: Data released by the Bureau…