Supply Chains
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 used autos is threatening to stall out. Yesterday, we got new industrial production data from the Fed, and there is encouraging news
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 ended, leaving only three 2+ year long shortages remaining from the pandemic disruption. After a correction earlier in the year, industrial production
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 ended, leaving only three 2+ year long shortages remaining from the pandemic disruption.
Some are already beginning to worry about the Inflation Reduction Act “crowding out” investment by the private sector. Yet the private sector is seeing things differently. In the most recent earnings call from major US steel producer Cleveland Cliffs, spending from the IRA was explicitly cited as a reason to
The Fed is worried about PCE Core Services ex-Housing (CSXHP) because it sees this category as the least likely to see disinflationary progress owing to wage pressures. However—as we have pointed out—CSXHP is composed of...
The Fed is worried about PCE Core Services ex-Housing (CSXHP) because it sees this category as the least likely to see disinflationary progress owing to wage pressures. However—as we have pointed out—CSXHP is composed of a number of components...
The following was originally presented as “Towards Macroprudential Fiscal Policy” at the Coordinating the Supply Side: Creating a Systemic Industrial Policy for the 21st Century conference put on by the Berggruen Institute in December 2022. In light of recent discussion about the scope, aims, and variety embedded in industrial policy,
