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...
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...
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...
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...
