Relevant and even prescient commentary on news, politics and the economy.

You searched for: label/market-clearing prices

Gas prices and elections

I’ll admit that gas prices at the pump have no significant effect on me. I live close to everything I need to be in person (food, healthcare), and I drive…

Labor Market Conditions – Sahm

…risk of unwelcome further weakening in labor market conditions. It’s a remarkable and appropriate commitment to the Fed’s dual mandate—stable prices and maximum employment, especially when year-over-year PCE inflation remained…

Speculation and Oil Prices

…two years. Merino and Ortiz suggest that the rise in prices above this “fundamental” price level is largely the result of speculative activity in the oil futures markets. But I…

Greenspan Highlight Reel

…and volatile. Prices for far-future delivery of oil and gas have risen even more markedly than spot prices over the past year. Apparently, market participants now see little prospect of…

Watching Oil

…faded dramatically over the past four years. Prices for delivery in 2010 of light, low-sulphur crude rose to more than $35 per barrel when spot prices touched near $49 per…