Cloud Y
The independent journalist who set up this website after realizing he is not smart enough to become a real economist.
US CPI shows zero inflation in May
US CPI grew 0% in May as the yearly growth rate dropped to 3.27%; core inflation, which stripped out food and energy prices, rose 0.2% and the yearly rate decreased to 3.42%
US gains 272,000 jobs in May, blows past expectations
US gained 272,000 nonfarm employment in May blew past market expectations of an 185,000 increase. Meanwhile, unemployment rate rose to 4%, which is the highest level since November 2021.
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.
Interviews
The effects of Unconventional Exchange Rate and Monetary Policy | Q&A with Joseph Gagnon
The honorable guest for this installment is Joseph E. Gagnon, senior fellow at Peterson Institute for International Economics (PIIE). We discussed one of his latest research paper "Unconventional Monetary and Exchange Rate Policies" and the new book he coauthored with C. Fred Bergsten, "Currency Conflict and Trade Policy: A New Strategy for the United States". Gagnon also shared his view on the very popular "Global Financial Cycle" ideas.
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.
Global Inequality and Kuznets Waves | Q&A with Branko Milanovic |
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...
Understanding the Great Recession | Interviews with Larry Christiano |
Larry Christiano, one of the most prominent researcher on DSGE model, explains what his research "Understanding the Great Recession" tell us about the Great Recession as well as labor participation rate's role in the developments of the Great Recession.