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Skanda Amarnath

Executive Director skanda@employamerica.org

About

As co-founder and Executive Director of Employ America, Skanda both leads our economic policy advocacy and ensures the long-term sustainability of the organization. Skanda’s commitment to our mission of full employment informs all of his work, from regular analyses of price and jobs data, to interpreting and forecasting market conditions, to developing new frameworks for Federal Reserve policy, strategy, and communication.

Skanda draws on a foundation of knowledge and career experience at the intersection of finance and policy. He was Vice President at MKP Capital Management operating as a market economist and strategist, and previously served as an Analyst within the Capital Markets function of the Research Group at the Federal Reserve Bank of New York. He has undergraduate degrees in Applied Mathematics and Economics from Columbia, and holds a Juris Doctor degree from Columbia Law School.

A frequent media guest and commentator, Skanda has been featured or quoted in the New York Times, the Atlantic, Heatmap News, Politico, Vox, the Wall Street Journal, Forbes, the American Prospect, the Washington Post, and more. He is also a regular contributor to Bloomberg’s Odd Lots newsletter. Skanda is based in Jersey City, NJ, and enjoys cooking, tennis, and cycling in his spare time.

Skanda Amarnath's Work

692 Posts
Skanda Amarnath

At tomorrow's FOMC meeting, the Fed will almost certainly hike 25 basis points. With that hike comes the full conclusion of the Fed's ambitious yet sometimes opaque "maximum employment" forward guidance. A hike in March is a clear declaration that the Fed believes the

Journalists can pretty much pre-write their headlines given the spike in oil prices. Year-over-year headline inflation readings are set to make new highs, potentially breaching 8% based on the food and energy impulse from what we might call the "Putin shock" to key commodities. At the same time,

Energy security has taken on new importance in wake of Russia’s invasion of Ukraine. We can use existing tools to confront these challenges without sacrificing our climate goals.

Now is the time for the Biden administration to think hard about how to encourage greater efficiency for the already elevated set of healthcare costs that the government and the private sector finance in this country.

Commentators across the ideological spectrum have argued that inequality justifies a more hawkish path for monetary policy. These arguments miss the fact that interest rate policy primarily slows consumer spending and consumer price inflation by slowing down the labor market first.

January is always a high-variance month for inflation readings and especially so for this January. We have been flagging the dynamics that were likely to grease the runway to elevated inflation prints in Q4 (which mostly materialized as described). We expect general strength in the January inflation print, primarily due

Conventional wisdom has held that rate hikes slow inflation long enough that straightforward accounts of how exactly one turns into the other are hard to find. Today, everyone needs to be on the same page about how exactly it is that Fed policy in particular can slow inflation.

Friday's employment report is set to be messy for a number of reasons, not just because Omicron is likely to weigh somewhat heavily on nonfarm payroll estimates. At the risk of sounding like a broken record, your best bet to avoid getting spun around by all of the

We provide an update on what our in-house monetary policy framework suggests about the appropriate trajectory for monetary policy using more reliable “real-time” measures of gross labor income

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