Inflation drops to lowest levels since March 2021
as economy cools
https://www.washingtonpost.com/business/2023/07/12/june-cpi-inflation-report/
How Fast Can Inflation Cool? Not Fast Enough (Yet)
for the Fed
https://www.wsj.com/articles/how-fast-can-inflation-cool-not-fast-enough-yet-for-the-fed-faa756f3
Measure It Differently, and Inflation Is Behind Us
https://www.wsj.com/articles/measure-it-differently-and-inflation-is-behind-us-6a6a89c1
NEC Director Lael Brainard:
https://www.whitehouse.gov/briefing-room/speeches-remarks/2023/07/12/remarks-as-prepared-for-delivery-by-nec-director-lael-brainard-at-the-economic-club-of-new-york/
The economy is defying predictions that inflation would not fall absent significant job destruction. Just today, we saw new and encouraging evidence that the U.S. economy is on the path to moderate inflation accompanied by a resilient jobs market. Annual CPI inflation is 3.0 percent—close to the 2.9 percent average level that prevailed in the nearly two decades leading up to the financial crisis. Annual inflation has now declined every month for 12 months in a row. And inflation in the United States is now the lowest among G-7 nations – for both headline and core inflation – even as our economic recovery from the pandemic has been the strongest.
Wall Street’s Recession Warning Is Flashing. Some
Wonder if It’s Wrong.
https://www.nytimes.com/2023/07/12/business/recession-yield-curve-rates.html
The yield curve has been suggesting since last year that the economy was headed for a slump.
https://www.washingtonpost.com/business/2023/07/12/june-cpi-inflation-report/
https://www.wsj.com/articles/how-fast-can-inflation-cool-not-fast-enough-yet-for-the-fed-faa756f3
https://www.wsj.com/articles/measure-it-differently-and-inflation-is-behind-us-6a6a89c1
https://www.whitehouse.gov/briefing-room/speeches-remarks/2023/07/12/remarks-as-prepared-for-delivery-by-nec-director-lael-brainard-at-the-economic-club-of-new-york/
The economy is defying predictions that inflation would not fall absent significant job destruction. Just today, we saw new and encouraging evidence that the U.S. economy is on the path to moderate inflation accompanied by a resilient jobs market. Annual CPI inflation is 3.0 percent—close to the 2.9 percent average level that prevailed in the nearly two decades leading up to the financial crisis. Annual inflation has now declined every month for 12 months in a row. And inflation in the United States is now the lowest among G-7 nations – for both headline and core inflation – even as our economic recovery from the pandemic has been the strongest.
https://www.nytimes.com/2023/07/12/business/recession-yield-curve-rates.html
The yield curve has been suggesting since last year that the economy was headed for a slump.
The Unit Labor Cost Debate:
Unit Labor Costs are Literally Constructed Using
Prices
https://www.employamerica.org/blog/unit-labor-costs-do-not-drive-inflation-they-are-inflation/
Related:
https://www.nytimes.com/2023/07/17/opinion/inflation-unit-labor-cost.html
https://www.employamerica.org/blog/unit-labor-costs-do-not-drive-inflation-they-are-inflation/
Related:
https://www.nytimes.com/2023/07/17/opinion/inflation-unit-labor-cost.html