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Weaker than Expected Jobs Report
Image generated by ChatGPT This morning (July 2)—one day early because tomorrow is a federal holiday—the Bureau of Labor Statistics (BLS) released its “Employment Situation” report (often called the “jobs report”) for June. The report showed a smaller than expected increase in employment. The jobs report has two estimates of the change in employment during the…
Supreme Court Rules that Lisa Cook Can Remain on the Fed Board
Image created by ChatGPT of the U.S. Supreme Court building The Federal Reserve Act states that a member of the Federal Reserve’s Board of Governors “shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President.” In August 2025, President…
Solved Problem: Higher Prices and Lower Profit at Apple?
Supports: Microeconomics and Economics, Chapter 6, Section 6.3, and Essentials of Economics, Chapter 7, Section 7.7. Image created by ChatGPT An article in the Wall Street Journal on June 25, noted that after Apple increased the prices of iPads and MacBooks, the price of its stock declined by 6.1 percent. That decline meant that the…
Alan Greenspan, former Fed Chair, Dies at 100
Image created by ChatGPT of Alan Greenspan as a maestro Earlier this week, Alan Greenspan, former chair of the Federal Reserve passed away at the age of 100. Greenspan may have been the best-known Fed chair in history. People who follow the economics and business news know who Jerome Powell and Kevin Warsh are. But…
New BEA Releases Show Faster Growth and Higher Inflation
Image created by ChatGPT The Bureau of Economic Analysis (BEA) released two reports this morning (June 25): “GDP (Third Estimate), Industries, Corporate Profits, State GDP, and State Personal Income, 1st Quarter 2026” and “Personal Income and Outlays, May 2026.” The BEA revised upward its estimate of real GDP growth in the first quarter of 2026…
FOMC Holds Target Rate Constant as Warsh Promises Procedural Changes after First Meeting as Chair
Photo of Kevin Warsh from bloomberg.com via the Wall Street Journal It was a foregone conclusion that 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. There was great interest, however, about whether at his…
CPI Inflation Highest Since 2023, but Slightly Below Expectations
Image generated by ChatGPT Today (June 10), the Bureau of Labor Statistics (BLS) released its report on the consumer price index (CPI) for May. As expected, higher energy prices caused by the conflict in Iran have continued to result in high rates of inflation. The following figure compares headline CPI inflation (the blue line) and core CPI inflation (the red…
AI Analyzes an Economic Puzzle
Image generated by ChatGPT People have collected sports cards for decades. For many years, the most sought-after and highest-priced example was a baseball card featuring Pittsburgh Pirates shortstop Honus Wagner. In the early twentieth century, baseball cards were often included in packs of cigarettes. In 1909, each pack of Sweet Caporal Cigarettes included a baseball card from what collectors…
Surprisingly Strong Jobs Report
Image generated by ChatGPT This morning (June 5), the Bureau of Labor Statistics (BLS) released its “Employment Situation” report (often called the “jobs report”) for May. The report showed a stronger than expected increase in employment. The jobs report has two estimates of the change in employment during the month: one estimate from the establishment survey,…
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