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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Lots and lots of inflation artwork coming your way! https://t.co/BSiY6GeRcV
My latest @ProSyn tries to make sense of the last data & Fed actions. My conclusion: the Fed needs to follow the same principle that made it so successful in helping to prevent eco...
One way my views on tax policy differ from many of my conservative friends is that I think revenue & distribution dwarf just about all other considerations. IF I could choose reve...
I keep seeing the argument "labor markets are not tight, look real wages are not up." This misunderstands the Philips curve which is about *nominal* changes. Philips curves have p...
Core PCE inflation at an annual rate: 12 months: 4.8% 6 months: 4.8% 3 months: 5.2% 1 month: 7.4% Only a little of that is passthrough from the Russian invasion. More soon.
The ECI offers a smidge of comfort about the trajectory of inflation. Private wages & salaries excluding incentive paid occupations rose 5.4% (annual rate), slightly below its rec...
The Treasury Secretary decries the "simple-minded" two quarters definition of a recession, cites the the National Bureau of Economic Research as the official arbiter. George Schul...
I plan to update my views more than usual (and perhaps more than I should) based on tomorrow's Employment Cost Index release. The reason: the data is so contradictory that I have r...
GDP fell at a 0.9% annual rate in Q2. Consumption rose a tepid 1.0%. Business fixed investment better than expected (-0.1%) but residential investment cratered (-14.0%). Volatile...
The Inflation Reduction Act is what the country needs right now--helping to address one of our biggest long-run challenges (climate change) while making progress on our biggest sho...
The GDP numbers for Q2 won't tell us whether we're in recession. They won't even provide much new info because they largely add up data that's already been released in recent month...
A lot of both the supply & demand explanations for inflation have a derivatives problem. They attempt to explain high inflation (a rate of change) with unfavorable supply disruptio...