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October and November Jobs Data Give Mixed Picture of the Labor Market
Image created by ChatGPT Because of the federal government shutdown from October 1 to November 12, the regular release by the Bureau of Labor Statistics (BLS) of its monthly “Employment Situation” report (often called the “jobs report”) has been disrupted. The jobs report usually has two estimates of the change in employment during the month:…
Three Dissents as the FOMC Cuts Its Target for the Federal Funds Rate
Photo from federalreserve.gov Today’s meeting of the Federal Reserve’s policymaking Federal Open Market Committee (FOMC) had the expected result with the committee deciding to lower its target for the federal funds rate from a range of 3.75 percent to 4.00 percent to a range of 3.50 percent to 3.75 percent—a cut of 25 basis points.…
PCE Inflation Increases Slightly in September
Image created by ChatGPT Today (December 5), the Bureau of Economic Analysis (BEA) released monthly data on the personal consumption expenditures (PCE) price index for September as part of its “Personal Income and Outlays” report. Release of the report was delayed by the federal government shutdown. The following figure shows headline PCE inflation (the blue…
Is the Price of a Thanksgiving Dinner Higher this Year? It Depends on What Side Dishes You Serve.
Image generated by ChatGPT A perennial media story this time of year looks at whether a Thanksgiving turkey dinner costs more or less than last year. Not too surprisingly, the answer depends on what side dishes you serve with the turkey. Deloitte provides tax, consulting, and other services to businesses. Their calculation of the cost of…
When John Williams Speaks … Investors Listen
Photo of Federal Reserve Bank of New York President John Williams from newyorkfed.org Many economists consider the three most influential people at the Federal Reserve to be the chair of the Board of Governors, the vice-chair of the Board of Governors, and the president of the Federal Reserve Bank of New York. The influence of…
Congratulations to Pace University for Winning the 2025 College Fed Challenge
Photo from federalreserve.gov of the Pace University Fed Challenge team and their faculty advisers Each year the Federal Reserve sponsors a competition among college student teams. As desribed on the Fed’s website, in the competition “Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.” This year’s…
Surprisingly Strong September Jobs Report
Image created by ChatGPT If not for the shutdown of the federal government, the Bureau of Labor Statistics (BLS) would have already released its “Employment Situation” report (often called the “jobs report”) for September and October by now. The September jobs report was released today based largely on data collected before the shutdown. The jobs…
Is the iPhone Air Apple’s “New Coke”?
Image created by GPT Most large firms selling consumer goods continually evaluate which new products they should introduce. Managers of these firms are aware that if they fail to fill a market niche, their competitors or a new firm may develop a product to fill the niche. Similarly, firms search for ways to improve their…
Solved Problem: Using the Demand and Supply Model to Analyze the Effects of a Tariff on Televisions
Supports: Microeconomics, Macroeconomics, Economics, and Essentials of Economics, Chapter 4, Section 4.4 Image generated by ChapGPT The model of demand and supply is useful in analyzing the effects of tariffs. In Chapter 9, Section 9.4 (Macroeconomics, Chapter 7, Section 7.4) we analyze the situation—for instance, the market for sugar—when U.S. demand is a small fraction of total world demand…
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