On a YoY basis manufacturing is the star of the show. But note from the historical graph that residential construction previously has turned down first, with manufacturing and other non-residential construction lagging (likely because of long lead times and the extended duration of completing projects). A big increase holds up construction spending in October; and […]

Passing along information on Biden’s Inflation Reduction Act, one year out, and the impact on the US. Update on CMS implementation of the Inflation Reduction Act on its 1st anniversary, ACA Signups, Charles Gaba via the Centers for Medicare & Medicaid Services (CMS) (note: this press release actually came out on August 16th):

Briefly, Josh Bivens: “Put simply, the IRA puts the U.S. on a path where meeting its global climate change  commitments is within reach. The commitments which would provide a genuine chance at securing a livable planet for future generations if they are kept. At the beginning of August 2022, there was no such path to secure this […]

Will the Inflation Reduction Act (IRA) Reduce Inflation?, Econospeak  Probably not, but it also will probably not increase it either. This is the judgment of the Congressional Budget Office and also the Penn Wharton Budget Model, as well as libertarian economist Tyler Cowen of George Mason, who is critical of much of its content.  It […]