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IT'S TIME TO KEEP EMPLOYMENT EXPECTATIONS WELL ANCHORED People always talk about the importance of anchoring inflation expectations. In today's newsletter, I wrote about how one way of reading Powell's speech is as an attempt to apply the same concept to low employment.

Thank you for your service, mitch said doug-holding-vinyls.glitch.me

chef boyardee: kamala harris should set aside one day a week for eating ravioli

The way to fight this is just by pointing out that Trump made it a lot easier to pollute the planet while the current administration reversed many of those policies

Libs propose child care subsidies and then a certain kind of family-values conservative objects that this is unfair to family caregivers and people kind of squawk at each other as if there is an impasse but you really can give benefits to child care users and home caregivers.

When the sun begins to sink, I have enough power I think? That’s a MORA. When the wind blows no more, Or there’s maintenance señor, That’s a MORA.

Kim Clausing draws attention to the ways the current (post Trump/ TJCA) tax code encourages US companies to offshore jobs and profits 1/ ft.com/content/419048…

Lael Brainard: "We are turning the page on inflation, which has fallen to 2.5%, close to the level the month before the pandemic started." We need to "focus on sustaining the historic gains we have made for American workers during this recovery." whitehouse.gov/briefing-room/…

So far, most solutions to this housing crisis have focused on subsidizing prospective buyers. But what if there were a way to make housing cheaper at every step of the process: cheaper to build, cheaper to buy, and still affordable for the next resident?

Taking comfort from lack of mass layoffs is odd--if layoffs were high the Fed would be too late & galloping down in 100bp clips. Also unemployment is *not* rising mainly due to labor supply--every metric of demand is cooling--not absorbing entrants is the leading edge of cooling

Right now the US is about 14% foreign born, just a bit below 1890s-1910s. Immigrants are waaaaaaaaay more assimilated these days, both because of US global cultural dominance and faster assimilation after arrival. But the Know Nothings are still really mad.

America already has a wealth tax, it just narrowly applies to non-wealthy elderly and disabled people who need long term care. It’s incredibly distortionary, causing divorces, complicated legal planning, and huge amounts of stress, but anti tax crusaders never mention it

the only Loomer i want to hear about open.spotify.com/track/1kAQmY7y…

If we wind up reopening the absolute worst-designed part of BBB, I swear to God Just give parents money! They can exchange it for goods and/or services