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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

189 Posts
Preston Mui

As economic risks shift from inflation toward the labor market, the Federal Reserve has begun the process of normalizing interest rates. While inflation is certainly lower than a year ago, that doesn't mean that inflationary risks are dead, either now or in the future. One stark lesson of

This is the last chance for Fedspeak before the pre-November meeting blackout period. This week we mostly heard from the hawkish side of the committee, all of whom are emphasizing a gradual path of rate cuts.

A quiet week of Fedspeak, with Waller and Bostic expressing disappointment in the September inflation data.

With fears of rising unemployment falling a bit with the September jobs data, the Committee's focus shifts back a bit towards inflation. As with before the September rate cut, the Committee is divided in its confidence around inflation's path back to 2%.

We had some Fedspeak this week but mostly people stuck to their previous views.

Make no mistake: this is good news. The Fed has made a commitment to not allowing the labor market to deteriorate further, and we’d rather not see that commitment tested.

With labor market risk rearing its head, Kashkari and Bostic sound dovish again.

A little bit of post-game analysis from Bowman and Waller. Waller defends 50 by pointing to the implications of the CPI and PPI data received during blackout period for core PCE.

“The time to support the labor market is when it’s strong, and not when you begin to see layoffs.”

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