CEA Chair Miran asserts that some of the surprise in the employment numbers is due issues of seasonality. Can we see that? I can’t… As of 1:35PM CT today, the President has fired the Commissioner of Labor Statistics, within 6 hours of the latest employment release. So what all of feared about the safety of the independ

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Econbrowser
econbrowser.com > archives > 2026 > 09 > ten-year-rates

Ten Year Rates Up

3+ day, 1+ hour ago   (26+ words) Econbrowser Figure 1: Ten year constant maturity Treasury (blue), on the run (red), both %. Source: Treasury, tradingeconomics.com. Leave a Reply Cancel reply...

Econbrowser
econbrowser.com > archives > 2026 > 09 > high-real-interest-rates-because-of-incipient-rapid-growth

High Real Interest Rates Because of Incipient Rapid Growth?

3+ day, 19+ hour ago   (72+ words) Econbrowser That’s former CEA Chair Miran’s argument in the FT. Is this assertion empirically validated? A graph from Hamilton, Harris, Hatzius and West (2016) suggests, maybe not: Source: Hamilton et al. (2016) exhibit 3.3, as edited by Chinn. The real rate-growth rate link…...

Econbrowser
econbrowser.com > archives > 2026 > 09 > policy-uncertainty-economic-and-trade

Policy Uncertainty: Economic and Trade

4+ day, 23+ hour ago   (43+ words) Econbrowser Figure 1: EPU (blue, left scale), 7 day centered moving average (red, left scale), EPU-trade policy (green, right scale), 7 day centered moving average (black, right scale), Source: policyuncertainty.com. One thought on “Policy Uncertainty: Economic and Trade”...

Econbrowser
econbrowser.com > archives > 2026 > 09 > the-cyclically-adjusted-budget-balance

The Cyclically Adjusted Budget Balance

1+ week, 3+ day ago   (181+ words) Improving through 2025Q3. But taking out the revenue associated with the illegal IEEPA tariffs, well… Figure 1: Federal budget balance excluding automatic stabilizers (blue), and excluding IEEPA tariffs (red), as a share of potential GDP. Assumes amounts above Q1 tariff revenue is IEEPA…...

Econbrowser
econbrowser.com > archives > 2026 > 08 > business-cycle-indicators-real-consumption-is-flat

Business Cycle Indicators: Real Consumption Is Flat

2+ week, 3+ day ago   (150+ words) Nominal consumption beats expectations ( +0.2% m/m vs +0.1% Bbg consensus), but real personal income ex-transfers remains below recent peak. The fact that consumption is flat in July is notable given rising personal income ex transfers. The SP500 was also (perhaps not coincidentally)…...

Econbrowser
econbrowser.com > archives > 2026 > 08 > wisconsin-goods-exports-by-destination-2025

Wisconsin Goods Exports by Destination, 2025

2+ week, 5+ day ago   (58+ words) Econbrowser As we lumber into an expanded trade war with Canada: Source: Census via ITA, and author’s calculations. To date (1pm CT), gubernatorial candidate Tom Tiffany has not made a comment on the original Section 338 tariffs to be levied against Canada,…...

Econbrowser
econbrowser.com > archives > 2026 > 08 > monthly-gdp-flat-since-march

Monthly GDP Flat Since March

3+ week, 23+ hour ago   (116+ words) Econbrowser SPGMI’s estimate as of 8/3: Figure 1: NFP employment (bold blue), civilian employment with smoothed population controls (bold orange), industrial production (red), personal income excluding current transfers in Ch.2017$ (bold light green), manufacturing and trade sales in Ch.2017$ (black), and monthly…...

Google News
econbrowser.com > archives > 2026 > 08 > inflation-adjusted-average-hourly-earnings-below-february-2026-levels

Inflation Adjusted Average Hourly Earnings below February 2026 Levels

3+ week, 2+ day ago   (78+ words) Econbrowser They’re all lower than they were in February … but deflated using CPI ex shelter (mimicking HICP), they’re down 1.4%. Figure 1: Average hourly earnings for production and nonsupervisory workers deflated by CPI – all urban (black), CPI wage earners and clerical workers…...

Econbrowser
econbrowser.com > archives > 2026 > 08 > i-am-the-king-of-debt-i-do-love-debt-i-love-debt-2

???I am the king of debt. I do love debt. I love debt.???

3+ week, 3+ day ago   (245+ words) “I am the king of debt. I do love debt. I love debt.” Econbrowser That is Donald J. Trump, in May 2016. So why the surprise about debt worries? It was only a question of time. Figure 1: Debt held by public…...

Econbrowser
econbrowser.com > archives > 2026 > 08 > import-prices-running-hot

Import Prices Running Hot

3+ week, 3+ day ago   (195+ words) Not just for computers, peripherals and semiconductors – and running hot despite dollar appreciation. From MarketPlace, with Justin Ho, today: without the cost of energy, import prices rose. In fact, they were up 4.5% from the same time a year ago. It’s…...