Alex Williams

What a great GDP print. 8.5% nominal growth, and 4.9% inflation-adjusted on the first revision.

Rather than careening from disaster to disaster, we might just be having an economy for the time being. The pandemic showed clear deficiencies in capacity and capabilities across a range of sectors, most of which are taking steps to address those deficiencies now.

PPIs point to stabilization on the supply side.

This week saw a fair amount of Fedspeak, with committee members making it increasingly clear that the interesting arguments in the coming months will be over just how long “higher for longer” means.

Hard and Soft Data Are Converging On “Steady” --- Growth With Moderating Inflation Pressures --- Electrical Equipment Shortages Hit Three Year Mark --- Uncertainty Is Falling

A quickstart guide for reading the monitor and an explanation of why this monitor is necessary and the role it can play in improving discussion of macroeconomic policy.

Each month, we publish a public version of the donor-exclusive Supply Chain Monitor to better inform macroeconomic discussion about developments on the “supply side.”