Update 719 — Discretionary to Discount: Consumer Spending Trends and Trajectory

August 30, 2023 | Consumer Finance, Miscellaneous

It is safe to say the resilient U.S. consumer has kept the economy from flirting with recession. And again in June, consumer spending increased by 0.5 percent over May, and again, up faster than disposable income. During and shortly after the pandemic, consumers splurged on a range of discretionary items — home gym equipment, patio …

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Update 718 — A Consuming Concern

August 29, 2023 | Consumer Finance, Miscellaneous

Status of Merger and Competition Policy It’s not just inflation making consumers uneasy about products and prices. Critical sectors of the U.S. economy have seen increased concentration in recent years, and whether it’s Taylor Swift tickets or food on the table, limited choices and rising costs afflict consumers everywhere. Today, we look at reforms proposed …

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Update 716 — A Year After IRA Passage, Implementation Key to Popular Support

August 29, 2023 | Inflation, Miscellaneous

We note without comment the fourth indictment brought against Donald Trump late Monday, but note that the case brought by the District Attorney in Fulton County, Georgia differs from the previous three. This indictment focuses on Trump’s efforts to overturn the results of the 2020 presidential election in Georgia and names 19 co-conspirators on racketeering …

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Update 715 — Weekly Economic Roundup

August 16, 2023 | Miscellaneous, Round Up, Uncategorized

July Inflation 3.2%: Cooling and the Core The encouraging moderation in prices throughout the economy this summer belies the fact that the trickiest part of fighting inflation lies just ahead: knowing when to stop. The contractionary policy of the Fed, which is in the midst of its steepest set of interest rate increases since the …

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Update 713 — Updating Bank Capital Rules: Rein in Risk or Dimon’s “Disappointment”?

August 16, 2023 | Banking, Miscellaneous

The August recess opened this week with two headline developments. Donald Trump was indicted Tuesday and arraigned yesterday, booked and fingerprinted before pleading not guilty to four counts of conspiring to remain in office after his defeat in the 2020 election. And the U.S. sovereign debt credit rating was cut by Fitch Ratings from AAA …

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Update 712 — Pre-Recess Policy Round-Up: See You in Sept: Budget, Farm Bill, Bank Rules

July 31, 2023 | Miscellaneous

Update 712 — Pre-Recess Policy Round-UpSee You in Sept: Budget, Farm Bill, Bank Rules Congress stands adjourned until Labor Day following a very eventful last legislative week that saw quite a flurry of activity. But the agenda immediately following the recess is daunting. Front and center will be two “must-pass” bills, a Farm Bill reauthorization …

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Update 711 — Don’t Believe in More Hikes? Fed Ready to Run Lag Risk while Prices Drop

July 31, 2023 | The Fed

Update 711 — Don’t Believe in More Hikes? Fed Ready to Run Lag Risk while Prices Drop The effectiveness of Fed monetary policy — hikes totaling 525 basis points over the last 16 months that have brought inflation down 6.09 percentage points since its June 2022 peak — raises the question: how do we know …

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