May 2014 Payroll Employment
After 76 months, we finally got back to the prerecession level of payroll employment.
Click on the image to get a bigger version.
The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .
Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?
Brad DeLong favors the U.S. gdp gap.
Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?
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WSJ: Real Time Economics
"Economic insight and analysis from the Wall Street Journal.”
Are you hoping falling oil prices ...
The Wall Street Journal’s Daily Report on Global Central Banks for Thursday, December 18, 2014:
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HighlightsHilsenrath’s Take: Yellen Playbook Puts Slack Over Oil Price Declines Fed Sets Stage for Rate ...
What are they?
Central banks typically set multiple interest rates, including on the loans they extend to banks and the rate they pay on excess reserves parked at the central bank. When they install a negative deposit rate, ...
Federal Reserve Chairwoman Janet Yellen said she has “great confidence” in Federal Reserve Bank of New York President William Dudley, responding to questions about scrutiny the regional Fed bank is facing for its ties to large financial institutions and its performance in supervising them.
Mr. Dudley has “done a fine job ...
The Federal Reserve’s decision Wednesday to tiptoe slowly toward interest-rate increases generated a significant and rare level of insurrection among its membership.Dallas Fed President Richard Fisher was ...
Federal Reserve officials said Wednesday they would be “patient” as they considered when to start raising interest rates next year. But the central bank’s policy statement retained some of its earlier language, mitigating the effect of the shift in wording. Here’s how economists reacted to the ...