Competing Narratives on Real Wages
"Democrats want to take credit for the higher real wages. Republicans want to deny that real…
Should the Fed Get Credit for Lower Inflation?
"Labor market developments cannot explain the decline in nominal spending growth. Tighter…
Inflation Remained Low in June
"Despite the progress made on inflation over the last three months, and the risk of…
Prices Decline in May, Monetary Policy Tightens
"Prices today are 8.9 percentage points higher than they would have been had the Fed hit its…
FOMC Holds Rates, Revises Forward Guidance
"Just as the FOMC was slow to adjust policy when inflation surged in late 2021, it will be slow…
Is Inflation on the Rise Again?
"The Fed should be looking ahead and adjusting monetary policy in light of its forecasts.…
Inflation Undershoots Fed Projections
"The FOMC changed course last week, foregoing a previously projected rate hike and projecting…
Inflation was Worse than We Thought
"Although Fed officials were late to tighten monetary policy, their efforts over the last year…
Fed Continues to Signal Another Rate Hike
"If core inflation is more or less on track, why are most FOMC members projecting another rate…
Inflation is Back on Target
"People have renegotiated their wages and purchase orders with those new expectations in mind.…
