The latest data on wages suggest that declining job market churn has not been sufficient to normalize the pace nominal income growth.| theovershoot.co
The death and disruption were bound to create real economic losses, even if things are better now than what one might have feared in the spring of 2020. Modest inflation is the least worst outcome.| theovershoot.co
How changes in pre-pandemic estimates of asset income affect the aggregate numbers. Plus, a look at the August PCE inflation numbers.| theovershoot.co