by sslifer | Mar 22, 2024 | Commentary for the Week, NumberNomics Notes
March 22, 2024 The Federal Reserve has indicated that it is likely to cut the fed funds rate three times in 2024 which would reduce the funds rate from its current level of 5.5% to 4.75% by yearend. But those three rate reductions are the tip of the iceberg. The...
by sslifer | Mar 15, 2024 | Commentary for the Week, NumberNomics Notes
March 15, 2024 We have written frequently about how the Fed’s temporary run-up in inflation turned out not to be temporary. Because wages have not kept pace with the jump in prices, consumer purchasing power has been reduced. This has soured consumer attitudes...
by sslifer | Mar 15, 2024 | Industrial Production, NumberNomics Notes
March 15, 2024 Industrial production rose 0.4% in both February and March after having fallen 0.8% in January. In the past year industrial production has been unchanged. The manufacturing sector has been essentially unchanged for the past year. Breaking industrial...
by sslifer | Mar 8, 2024 | Commentary for the Week, NumberNomics Notes
March 8, 2024 Every month employers have a choice. If demand remains solid they can either hire more workers, or work their existing employees longer hours. If in any given month economists know how many people are working and how many hours they worked, they can...
by sslifer | Mar 1, 2024 | Commentary for the Week, NumberNomics Notes
March 1, 2024 The Congressional Budget Office currently estimates potential GDP growth in the U.S. for the next decade to be 2.0% — 0.6% growth in the labor force plus 1.4% growth in productivity. Potential GDP growth can be thought of as the economy’s speed...
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