The topic at Jackson Hole is Fostering a Dynamic World Economy. It does not lend itself to a talk of the nuances of monetary policy. Besides, what could Yellen say that could truly impact expectations for the trajectory of monetary policy that she did not say to Congress in last month’s testimony? And if …
How will Yellen Address Fostering a Dynamic Global Economy? Read More »
Charles Wilson, former CEO of General Motors before becoming Defense Secretary under President Eisenhower, once famously quipped that “what is good for the country is good for GM and vice versa.” While the veracity of that claim has been challenged, the fact of the matter is that since the Great Financial Crisis, the auto sector …
US Auto Sector and Broader Thoughts on the US Labor Market Read More »
Output is a function of how many hours are being worked and productivity. Ahead of tomorrow’s US employment report, let’s look closer at these two variables. The average weekly hours worked in the US has been fairly steady in recent years. The average over the past year through March was 34.4 hours, and the three-year …