One of the policies with the greatest effect on poverty is the ild tax credit (expanded and made fully refundable by the American Reesue Plan). It caused a 44% reduction of child poverty. UNfortunately it was a tempory one year program (approptiate for stimulus bu not for an always needed prgram). It was not renewed and there […]
– by New Deal democrat There was good news and not so good news in this morning’s two important data releases. I’ll start with the good news. Both total industrial production and its manufacturing component increased a sharp 0.9% in May. Even after downward revisions of -0.4% in March and -0.3% in April, both were […]
It’s all about the words . . . by Steve Roth Originally Published at Wealth Economics This article was first published on Cameron Murray’s great Fresh Economic Thinking. It’s slightly revised here. Maybe I’m just dense, but when I started studying economics roughly twenty years ago, I immediately ran into a bunch of basic concepts that […]
I have following the SWI for a period of time. When I get a newspaper, it makes for some interesting read. This particular article discusses a potential meeting of ninety countries. The peace process was initiated by Ukrainian President Volodymyr Zelensky asking the Swiss to initiate such a conference. I can not imagine what he […]
Post-June FOMC: By Overreacting Hawkishly, the Fed Risks Being Behind the Ball by Preston Mui employ america org The simple fact as seen in a longer-run view, inflation has fallen greatly. Whether you start from its peak at 5.6% in February 2022 or 4.2% when the Fed raised rates to the current level, core PCE inflation—which […]
If you look at Part 1 and Part 2 of The Demographic Outlook: 2024 to 2054 CBO projections. The estimation of Net Immigration varies anywhere from 2.7 to 3.3 million to the US in 2024. In Part 1, of CBO’s current estimates, net immigration is larger than the agency estimated last year, by 0.7 million people […]
Report on the impact from the expanded unemployment insurance, economic impact payments, aid to states and localities, child tax credits, and temporary protection from eviction amongst other measures as reported by the authors. These actions provided relief to workers and their families to help them weather the recession. These measures also fed the surge in […]
Tyler Cowen links to an article suggesting that Taylor Swift’s upcoming concerts in London may boost inflation and delay an interest rate cut by the Bank of England. I am not a macroeconomist, but color my skeptical. For one thing, a short blip in the demand for hotel rooms in London will likely increase room […]
by Bill McBride Calculated Risk, May 29, 2024 The FDIC released the Quarterly Banking Profile for Q1 2024: Reports from 4,568 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) report aggregate net income of $64.2 billion in first quarter 2024, an increase of $28.4 billion (79.5 percent) from the prior quarter. A […]
It is unfortunate we do not possess a “Wayback Machine” to fix the issues we are experiencing with banks since 1986. Instaed we bumble again and again, making the same mistake over and over with banks. In a cartoon series called Peabody’s Improbable History, Mr. Peabody and Sherman would open the door to the past, […]