The Overshoot
The latest forecasts of inflation, unemployment, and interest rates under "appropriate monetary policy" reveal some intriguing disagreements.
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Decades of underinvestment, excessive taxation, and anti-Europeanism might finally come to an end. Or not.
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Net issuance of repos, bank deposits, and physical currency have covered much of the gap so far.
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Thinking through the PPI-CPI-PCE disconnect, plus some details on health care inflation
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Idiosyncratic price spikes due to reopening and troubles in the motor vehicle supply chain are fading or reversing. But keep an eye on housing, health …
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What would happen if the pandemic never really "ends"?
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Recent policy changes and rhetoric from Xi Jinping both imply a serious effort to shift the distribution of income towards ordinary people. But is that…
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Bad things lead to more bad things. But (some) bad things can be fixed.
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The Overshoot


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