Contrary to the expectations of Fed officials, labor force participation growth has been strong over the last six months. In this piece, I use Current Population Survey microdata, correct for measurement issues, and show that an increase in labor force entry played a significant role in this recent…
What’s Happening: Despite signs of a “bloodbath” in the spot market for trucking, investment in the production of new trucks is set up to hold steady even...
What’s Happening: Despite signs of a “bloodbath” in the spot market for trucking, investment in the production of new trucks is set up to hold steady even as shipping rates fall. This could be good news for the inflation, investment and climate outlooks.
New industrial production data are suggesting that domestic auto production may be recovering. This would be a much-needed disinflationary force against a backdrop where disinflation in new and...
Three Big Themes We are starting to see some evidence of the long hoped-for supply response to pandemic price increases in this month’s monitor. One long-running shortage...
