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Preston Mui

Senior Economist preston@employamerica.org

About

Preston is a Senior Economist specializing in macroeconomics and labor economics. In his role at Employ America he reports extensively on the Federal Reserve and analyzes labor market and macroeconomic data to guide our Federal Reserve advocacy and identify key macroeconomic dynamics. Preston also collaborates closely with our policy team to develop legislative proposals and analyse the macroeconomic impact of policy changes, and has a growing body of work exploring the relationship between full employment and productivity.

Preston holds a PhD in Economics from the University of California, Berkeley. His academic work has been published in The Review of Economic Statistics and The Review of Economic Studies. He’s a trusted voice in economic policy media, and has been featured or cited in the New York Times, Washington Post, Marketplace, Barron’s, Axios, Reuters, AP News, and more.

Preston is based in Seattle, Washington, and enjoys birdwatching and racing criteriums.

Preston Mui's Work

188 Posts
Preston Mui

So far, the labor market has taken the slowdown in labor demand in the healthiest way possible. If the labor market slows more than expected, the Fed may not have the luxury of patience anymore.

A light week of Fedspeak this week, with little new revelations.

As tariff policy starts to be implemented, the Committee seems to be coalescing on a view that they'd like to look through tariffs if they result in a one-off increase in prices, but are concerned about the possibility of long-term expectations becoming unanchored.

The calls for patience continue, especially with tariff uncertainty.

This week, FOMC members across the spectrum cited policy uncertainty, especially around tariffs, as a reason for putting any further rate cuts on hold.

The labor market might be solid right now, but the composition of job growth in the future looks increasingly worrying.

We only heard from Goolsbee and Bowman after this week's FOMC meeting, but both the hawk and dove agree that the lack of policy and economic uncertainty from the new Administration's policy is going to make things difficult.

If you enjoy our content and would like to support our work, we offer a premium, high-frequency macro research service, Macro Suite. If you’re interested in gaining access, please feel free to reach out to us here for more information. What To Expect Very little. The Fed signaled a

In the last week of Fedspeak before the January blackout period, Waller continued to signal openness to more cuts in 2025 and optimism about the inflationary trajectory.

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