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Cloud Y

Cloud Y
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The independent journalist who set up this website after realizing he is not smart enough to become a real economist.

Bank of Canada cuts rate by 0.25 ppts to 4.75%

The Bank of Canada lowered its target for overnight rate by 0.25 ppts to 4.75%, making it one of the advanced economy central banks to cut rates before Federal Reserve does.

US PCE inflation holds at 2.7% in April as market expected

US PCE inflation held at 2.7% YoY in April 2024 while core inflation maintained its pace at 2.8% for the third months,

How to make US inflation chart by pulling data from BLS API with Python

An important question is how do we get the series IDs for the data you need. The short answer is through BLS's Data Finder

US core CPI rises 3.6% as expected

US CPI rose 3.35% in the year to April, as expected by analysts. Meanwhile, core CPI, which strips out prices of food and energy, increased 3.61%, also as market expected.

US April Jobs Report – Unemployment rate rises back to 3.9% as Nonfarm Payroll...

Nonfarm payroll increased 175,000 in April, a significant reduction from 315,000 in March and fell short of the market expectation of 243,000. Meanwhile, US unemployment rebounded to 3.9%

US labor market cools down further with job openings, hires, quits all drop in...

The March US job opening and labor turnover (JOLT) report shows that job opening rate, hire rate and quit rate all dropped marginally in March, showing further cool down in the US labor market.

Bank of England will likely retire Fan chart, Andrew Bailey says

Bank of England's Fan charts would probably be replaced by "alternative scenario" projections, which illustrate how policy might react under different economic developments.

UK inflation cools to 3.4% amid service inflation slowdown

Core inflation also slowed to 4.5%, compared to a year earlier.

Canada inflation slows further to 2.8%; rent continues to rise

Canada's CPI rose 2.78% in February, a further slowdown from the 2.86% increase in the January

Measuring Federal Reserve officials’ secret disagreement behind locked doors of FOMC meetings

Dissent votes in Federal Reserve policy meetings are rare, accounting for only 6.37% of the votes between 1976 and 2017. However, opting not to vote against the FOMC consensus doesn't necessarily mean committee members don't "disagree" with it.

Global Economy

Interviews

John Cochrane Cover Photo

Fiscal Theory of Price Level and State of Macroeconomics | Q&A with John Cochrane...

John Cochrane talks about Fiscal Theory of Price Level and how can we apply this theory on the current macroeconomy.
Branko Milanovic Cover 2

Is Inequality part of Macroeconomics? | Interview with Branko Milanovic |

Branko Milanovic discusses whether the study of inequality can be considered as part of macroeconomics and how should macroeconomists incorporate his idea of Kuznets Waves into their models.
Cover Photo with Calomiris

Politics and the Economics of Banking Crises | Q&A with Charles Calomiris |

In this installment, we continue our discussion with Prof. Charles Calomiris, Henry Kaufman Professor of Financial Institutions at Columbia Business School. The topic of this installment is the missing role of politics in economics models of banking crises. We also discussed if Calomiris thinks macroeconomics has a similar problem.
Kocherlakota Cover photo

How to Reform the Federal Reserve System? | Q&A with Kocherlakota |

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?”“Where is the General Theory of the...