The Philadelphia Federal Reserve Bank's estimates of state coincident activity in November shows further signs of converging growth across the nation. 32 states have seen gains between 2% and 4% over the last 12 months. Florida, with [...]
Global| Dec 27 2018State Coincident Indexes
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- Global| Dec 21 2018
Fed Needs to Include Asset Prices in Their Playbook
In 2008 I attended the Federal Reserve Bank of Boston 52nd annual economic conference "Understanding Inflation and the Implications for Monetary Policy." During one of the panel discussions of then current policymakers I asked, "How [...]
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- Global| Dec 20 2018
State Personal Income
The first estimates of state personal income growth in 2018:Q3 indicate that, in general, as had been the case for employment for some time, states in the western part of the country were the fastest growing, with Nevada and [...]
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- Global| Dec 10 2018
Is the CPI or PCE the "Correct" Price Target for Monetary Policy? Both Are Flawed Price Measures
The economic profession and the Bureau of Labor Statistics (BLS) statisticians have been debating the proper construction of price indices for decades. It is probably a good time to renew the debate since published price indexes have [...]
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