I just watched this entire interview. Listening to Lacy Hunt talk about the saving and investment identity, and walking through the aggregate econ implications, reminds me of the late Michael Mussa (further IMF chief economist) using it to explain why global imbalance was a

Could it be that net foreign savings measurement issue plays athe key role in the GDP and GDI discrepancy? In the 4q up to 2024 q1, the international BOP discrepancy is 0.7% of GDP. This chart seems to suggest they do kind of comove. Statistical discrepancies in the US balance

A reminder of what other potential risk factors are at work in September.

Construction payrolls should cool, possibly sharply, about…imminently. Our leading indicator leads by 7 months. It is about that time. Bloomberg Terminal Our latest: blinks.bloomberg.com/news/stories/S…

Anna Wong Bloomberg Terminal you nailed it

I thought markets overreacted to JOLTS today but underreacted to Beige book. In Powell’s words, what he thinks of Beige book (and also GDP): “I spent most of my life in the private sector looking at companies-individual companies individual management teams and then building