I haven’t been paying as much attention as usual to inflation indicators. But we’ve been getting a string of good news. One source of inflation pessimism was the high ratio of job openings to unemployed workers. That issue has now gone away, with unemployment still very low 1/
Underlying inflation is also low. I like the New York Fed’s measure, in large part because it’s an algorithm that doesn’t involve judgement calls and hence possible motivated reasoning. It’s within spitting distance of the 2 percent target 2/
unemployment is high as fuck if you use the pre-Reagan criteria
But will Citizens believe it?
"it’s an algorithm that doesn’t involve judgement calls and hence possible motivated reasoning." All algorithms are judgements calls, sir.
Delete your account