October retail sales: consumers: “We’re not dead yet!” – by New Deal democrat Retail sales, my favorite consumer indicator, was reported this morning for October. And it was a good number, up +1.3% nominally, and up +0.5% after adjusting for inflation: On the bright side, this was the highest absolute number since April. On the […]
How hard should the Fed hit the brakes to bring inflation down? The answer to this question depends, in part, on just how damaging you think inflation is. And one reason to think that inflation is harmful is simply that most people – normal people, not CEOs or financiers – seem to really dislike it. […]
October industrial production: consistent with a very slow expansion – by New Deal democrat I call industrial production the King of Coincident Indicators, because more often than any other metric it coincides with the peaks and troughs of economic activity as determined by the NBER, the official arbiter of recessions. Unlike retail sales, the news […]