Jason Furman
Professor of Practice at Harvard. Teaches Ec 10, some tweets might be educational. Also Senior Fellow @PIIE. Was Chair of President Obama's CEA.
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The PCE-based Ecumenical Underlying Inflation Measure was 2.4% for November. This is down 0.1pp from last month--and 0.2pp lower than the CPI-based measure. It is the median of 8...
As expected, an unusually large divergence between the PCE (which the Fed targets) and the CPI in November. Core PCE annual rate: 1 month: 1.4% 3 months: 2.5% 6 months: 2.4% 12 mo...
For a while inflation was coming in surprisingly better than expected. But that is no longer the case. There are two more months of data to go but looks like core PCE inflation thi...
The PCE-based Ecumenical Underlying Inflation measure is out for October and it is 2.5%, up from 2.3% last month. This is the median of eight different measures over three differe...
Core PCE came in high (as expected). The last mile thesis has gained strength over the last several months as 12-month core PCE is now up 2.8%. You might say that includes outdated...
GDP was barely revised so whatever you thought last month you can still think this month. https://t.co/oHWO4Hn8hy
Overall the jobs report is reassuring. A healthy 142K jobs added, average weekly hours increased, participation stayed the same, and most importantly the unemployment rate fell bac...
PCE-based Ecumenical Underlying Inflation measure was 2.3% in July. This is the median of 24 different measures (8 based x 3 time periods). https://t.co/4dbLJSrq4G
The most important data in the personal income release is the numbers on consumer spending. It was up 0.4% in real terms in the month of July, consistent with the strong retail sal...
The PCE inflation data came in very close to expectations and, for the month, just at the Fed's target. Core PCE at an annual rate: 1 month: 2.0% 3 months: 1.7% 6 months: 2.6% 12...
In hindsight the Fed made a mistake when it kept the FFR unchanged on Wed. But in hindsight they always make mistakes--there are risks on both sides. The relevant questions are:...
The big news in this morning's job release is the unemployment rate up to 4.3% while job growth slows to 114K, wage growth slows and average weekly hours fall. The only contra-indi...