A number of current and former of policymakers along with other public officials and analysts have started to debate whether the 2% inflation target is still a viable policy rule. The debate is long overdue, but the trouble with this [...]
Global| Sep 26 2018
Finally, Policymakers Are Rethinking the 2% Inflation Target
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Global| Sep 21 2018
State Labor Markets in August
As has been the case for some months, August saw fairly widespread job gains by state, though only four of the gains (California, Texas, Arizona, and Florida) were viewed as statistically significant. 10 states, and DC, reported [...]
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Global| Sep 19 2018
The Lack of Adequate Policy Defenses Could Make the Next Crisis Much Worse
Ten years after the Great Financial Crisis policymakers are still debating the causes and the missed signs. Nevertheless, there is also a quiet sense of accomplishment and achievement among past and current policymakers as the [...]
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Global| Sep 11 2018
Fed Policy: In Search of Rate Neutrality
Federal Reserve policymakers have clearly indicated their intentions to raise official rates by 25 basis points at the September 25-26 Federal Open Market Committee Meeting. Yet, one of the more contentious issues that may be [...]
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Global| Sep 04 2018
Are Inflation Expectations Moveable?
Policymakers are increasingly relying on measures of inflation expectations in order to monitor potential changes in the inflation outlook. Yet, with general inflation steady and inflation expectations often no more than an [...]
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Global| Aug 27 2018
State Coincident Indexes: The Sum of the Parts Greater than the Whole?
Last Wednesday the Philadelphia Federal Reserve Bank issued its estimates of state coincident activity for July. All 50 states report increases over the last 12 months; only West Virginia and Alaska showed gains under 1 percent. As [...]
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Global| Aug 20 2018
Odd Couple: "A Genuine Economic Boom" & Bigger Budget Deficits
At a cabinet meeting last week, White House economic advisor Mr. Larry Kudlow described the economy's performance in 2018 as a "genuine economic boom." Yet, Mr. Kudlow failed to mention that this "economic boom" is being accompanied [...]
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Global| Aug 17 2018
State Labor Markets in July
July saw job gains in 42 states, though only 6 of those increases were deemed statistically significant by BLS, led by California’s 46,700 (0.3 percent) gain (Nevada had the largest percentage increase—0.7). It’s often the case that a [...]
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