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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Macro and Other Market Musings
My latest Macro Musings podcast is with David Andolfatto. David is a vice president of the St. Louis Federal Reserve Bank and a professor of economics at Simon Fraser University. He has published widely in the area of monetary economics and ...
Federal Reserve officials are looking more confidently toward an interest-rate increase before year-end, possibly as early as September, now that financial markets have stabilized after Britainâ€™s vote to ...
My latest Macro Musings podcast is with Robert Hall. Bob is a professor of economics at Stanford University. He is the former president of the American Economic Association, a member of the National Academy of Sciences, a fellow of the Econometric ...
My latest Macro Musings podcast is with Mark Thoma of the University of Oregon, the Fiscal Times, and CBS Money. Mark is also the author of Economist's View, one of the original and premier blogs covering macroeconomic issues.
My latest Macro Musings podcast is with Joe Gagnon of the Peterson Institute for International Economics. Joe is a senior fellow at the Peterson Institute of International Economics and formerly worked for the Federal Reserve Board of Governors as an ...
First, Brexit is adding further strength to an already ...
My latest Macro Musing podcast is with Bob Hetzel. Bob is a senior economist and research advisor at the Richmond Federal Reserve Bank where he has worked since 1975. He joined me to discuss the rise of monetarism and how Milton Friedman, ...