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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Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless. Doing it while going well beyond one campaign promise ($10K of stude...
3 possibilities if transferring $250b to a group: 1. They raise their consumption (now and/or in future). Total output unchanged or rises by less--consumption of others falls. 2....
Student loan relief is not free. It would be paid for. Part of it would be paid for by the 87% of Americans who do not benefit but lose out from inflation. Part of it would be paid...
My latest @wsjopinion makes the case for the Fed raising rates by 75bp at the next meeting based on the data so far--although should continue to be data dependent. I make four poi...
Median & trimmed-mean CPI tell a similar story to core--all show underlying inflation was slower in July than it was in the last few months. Median slowed a bit less than in core,...
A great CPI report. If you use the unrounded numbers the headline was actually -0.02%, deflation! Core was +0.3%, the lowest since September 2021. The more intertial parts of core,...
Productivity data is out for Q2 showing (no surprise) the largest two-quarter decline on record. This is true even with a much more optimistic path for output. This is a risk for...
Fascinating picture of the increase in stockouts over the last 8 months (this is products that are temporarily unavailable or an unusual increase in permanently discontinued ones)....
The labor force participation rate is 1.3pp below what it was in February 2020. You would have expected the aging population to lower it 0.4pp over that period. The other 0.9pp i...
One confusing thing about #econtwitter is there are always two valid debates happening simultaneously that often bleed into each other. But once you realize they're different it's...
Uncomfortably hot jobs report. 528K jobs added & unemployment rate falls to 3.5%. What worries me re inflation is avg hourly earnings were up at a 5.8% ar in July. June revised to...
Also there is the baseline. The minimum tax revenue is new revenue. It is gross inflation reduction relative the trajectory we are on. ACA premiums is an extension. Doesn't raise...