Trump: “Tariffs are going to make our country rich”
From Reuters: In an interview with NBC’s Meet the Press that aired on Sunday, Trump said he did not believe that consumers ultimately pay the
Eggs | Econbrowser
Bloomberg points out eggs were big in the PPI, accounting for 80% of the y/y rise (egg prices spiking due to avian flu). I wondered
Guest Contribution: “The Diminishing Impact of Exchange Rates on China’s Exports”
Today, we’re fortunate to have Willem Thorbecke, Senior Fellow at Japan’s Research Institute of Economy, Trade and Industry (RIETI) as a guest contributor. The views expressed
US Tariff Pass-Through on Chinese Imports Is High
So be prepared. From Feng, Han, and Li (2023): As noted in the article, machinery, electronics and optical equipment accounted for a lot of imports
Instantaneous Core and Supercore Inflation for November
Including PPI and nowcasted PCE: Figure 1: Instantaneous inflation for core CPI (blue), chained core CPI (tan), supercore CPI (pink), services supercore (light green), PPI core
Instantaneous Inflation in November (and October)
Up for CPI and chained CPI. Figure 1: Instantaneous inflation (T=12, a=4) for PCE deflator (black), for PCE deflator market prices (pink), CPI (blue) chained
The Likelihood of a Plaza Accord 2.0
Mark Sobel at OMFIF discusses the likelihood of an new Plaza Accord to depreciate the dollar. Given one would need Euro area and Chinese agreement,
Disingenuousnous Watch | Econbrowser
EJ Antoni/Heritage writes: Another month, another record high for the number of gov’t employees Well, yes. Of course, population is also at a record
Who’s Real Wage? | Econbrowser
EJ Antoni writes: Today’s employment data showed further gains in earnings, but cumulative price increases have still far outpaced earnings growth over the last 4
EJ Antoni Worries about the Gap between CES NFP and CPS Employment
From a X post today: There have been widening gaps between NFP and civilian employment in the recent, which he takes as evidence of serious