The Businesses That Rescued America from Inflation,
Recession, Lost Jobs
https://www.wsj.com/business/airlines/businesses-defeated-inflation-recession-049cceed
From oil drillers to chip makers, businesses responded to soaring prices by boosting supply, which cooled inflation without a recession or high unemployment
What Trump Voters Understand About the Economy
https://www.nytimes.com/2024/01/15/opinion/trump-voters-economy.html
Roger Lowenstein:
Inflation has snatched away the gains from even a very strong labor market. Over Mr. Biden’s first two years, as price hikes outran wages, real median household income fell 2.7 percent. The census has yet to report median income for 2023, but given that real wages were up about 1 percent through November, the cumulative change in household median income, adjusted for inflation, over Mr. Biden’s first three years is likely to be in the range of mildly negative to very mildly positive. In other words, in the all-important category of improving living standards, the country did not make progress.
This shows that jobs and output, while very important, are not the only economic indicators that matter. Inflation matters, too — because high inflation taxes away prosperity. This is one area in which I think the president — along with the Federal Reserve — does bear some responsibility. He was warned by voices within his own party — notably, Larry Summers — that his first budget package, enacted nearly a year after the Covid recession had ended, was too big relative to the need. He went ahead and inflation in 2022 soared to 8 percent, a 40-year high.
https://www.wsj.com/business/airlines/businesses-defeated-inflation-recession-049cceed
From oil drillers to chip makers, businesses responded to soaring prices by boosting supply, which cooled inflation without a recession or high unemployment
What Trump Voters Understand About the Economy
https://www.nytimes.com/2024/01/15/opinion/trump-voters-economy.html
Roger Lowenstein:
Inflation has snatched away the gains from even a very strong labor market. Over Mr. Biden’s first two years, as price hikes outran wages, real median household income fell 2.7 percent. The census has yet to report median income for 2023, but given that real wages were up about 1 percent through November, the cumulative change in household median income, adjusted for inflation, over Mr. Biden’s first three years is likely to be in the range of mildly negative to very mildly positive. In other words, in the all-important category of improving living standards, the country did not make progress.
This shows that jobs and output, while very important, are not the only economic indicators that matter. Inflation matters, too — because high inflation taxes away prosperity. This is one area in which I think the president — along with the Federal Reserve — does bear some responsibility. He was warned by voices within his own party — notably, Larry Summers — that his first budget package, enacted nearly a year after the Covid recession had ended, was too big relative to the need. He went ahead and inflation in 2022 soared to 8 percent, a 40-year high.
Joe Biden’s economy, inflation divides brainiac couple
https://www.washingtonpost.com/business/2023/12/27/biden-economy-vibes-couple/
https://www.washingtonpost.com/business/2023/12/27/biden-economy-vibes-couple/
We’re Finally Shaking Off Those ‘Vibecession’ Feelings
https://www.bloomberg.com/opinion/features/2023-12-27/we-re-finally-shaking-off-those-vibecession-feelings
https://www.bloomberg.com/opinion/features/2023-12-27/we-re-finally-shaking-off-those-vibecession-feelings
Fed Tiptoes Toward Dialing Back Key Channel of Monetary Tightening
https://www.wsj.com/economy/central-banking/fed-tiptoes-toward-dialing-back-key-channel-of-monetary-tightening-55127982
By slowing the pace at which its balance sheet shrinks, the central bank aims to prevent a messy disruption to the financial system