Please visit our Pearson CoVID-19 Resource Center for additional tips, strategies, and best practices to teaching and learning online!
AI on the AI Revolution
Image created by ChatGPT, as are the other images in this post. Technological breakthroughs are often embodied in machinery, equipment, or, as in the case of artificial intelligence (AI), software. For example, the Industrial Revolution of the late 1700s, which involved mass production of low-priced cotton textiles, was made possible by the development in England of large…
Solved Problem: Too Much Chicken?
Supports: Microeconomics and Economics, Chapter 14, Section 14.2. Image created by ChatGPT An article in the Wall Street Journal discussed why the price of chicken in supermarkets has been falling. The article notes that, “Bigger chicken breeds and flocks not being decimated by disease over the summer have led to a glut in an industry that slaughters…
As Expected, CPI Inflation Falls Slightly in July
Image created by ChatGPT Today (August 12), the Bureau of Labor Statistics (BLS) released its report on the consumer price index (CPI) for July. Lower energy and grocery prices contributed to a slight decline in the inflation rate in July compared with June. The following figure compares headline CPI inflation (the blue line) and core CPI inflation (the red line). Headline…
Employment in July Unexpectedly Declined
This morning (August 7), the Bureau of Labor Statistics (BLS) released its “Employment Situation” report (often called the “jobs report”) for July. The report showed a decline in employment. The jobs report has two estimates of the change in employment during the month: one estimate from the establishment survey, often referred to as the payroll survey, and…
Solved Problem: Is Using Money Efficient?
Supports: Macroeconomics, Chapter 14, Section 14.1, Economics, Chapter 24, Section 24.1, and Money, Banking, and the Financial System, Chapter 2, Section 2.1. Image created by ChatGPT A rare book dealer who often posts to YouTube made the following observation in one of his videos: “… thousands of years ago, they had the barter system where you could…
Breaking News: Demand Curves Slope Downward!
Image created by ChatGPT The following was the first sentence of an article yesterday on axios.com discussing the market for beef: “Beef sales are plunging, but processors continue to raise prices as a yearslong cattle shortage strains the industry.” The sentence seems to be describing a paradox: Why would meat processors, such as Tyson, JBS,…
What Explains the Rise in 30-Year Treasury Yields?
Image created by ChatGPT At the close of trading on Friday, July 31, the yield on the 30-year Treasury bond was 5.28 percent. As the following figure shows, that yield was the highest since July 2007, before the Global Financial Crisis and the Great Recession of 2007–2009. Note: As we discuss in Money, Banking, and…
New BEA Releases Show Slower Growth Than Expected and Lower Inflation
Image created by ChatGPT The Bureau of Economic Analysis (BEA) released two reports this morning (July 30): “GDP (Advance Estimate), 2nd Quarter 2026” and “Personal Income and Outlays, June 2026.” The BEA’s initial—or advance—estimate is that real GDP grew in the second quarter of 2026 at annual rate of 1.5 percent, down from an annual…
FOMC Holds Target Rate Constant, with Three Dissenting Votes
Fed Chair Kevin Warsh and colleagues discuss policy at the June FOMC meeting (Photo from federalreserve.gov.) There was some uncertainty as to whether at its meeting that ended today, the Federal Open Market Committee (FOMC) would leave unchanged its target range for the federal funds rate at 3.50 percent to 3.75 percent. As of yesterday,…
What Is Mickey Reading This Summer? The New Edition of Money, Banking, and the Financial System!
Image created by Lena Buonanno. Thoroughly revised with an up-to-date discussion of the Fed’s operating procedures and many new features, the new Fifth Edition is available now for fall course adoption. Instructors can request an examination copy here.
Something went wrong. Please refresh the page and/or try again.
Follow My Blog
Get new content delivered directly to your inbox.
HubbardOBrienEconomics.com Blog 