The Overshoot

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The Consumer Price Index was flat in July compared to June, thanks largely to a drop in energy prices that may or may not persist. The Producer Price…
Matthew C. Klein
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Federal Reserve officials want to reduce businesses' demand for workers to put downward pressure on wage growth and contain inflation. Yet the pace of…
Matthew C. Klein
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If you are thinking about upgrading to a paid subscription, or are undecided about whether to renew, now is the time to lock in the current rate. Plus…
Matthew C. Klein
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The details of the data continue to be confusing and contradictory. But the economy is almost certainly slowing even if it hasn't yet started shrinking.
Matthew C. Klein
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Squeezed consumers and homebuilders are forcing up the trade surplus via stagnant imports. And higher lending to local governments likely reflects…
Matthew C. Klein
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Consumer prices rose rapidly in June. But many of the forces blamed for inflation are moving in the other direction.
Matthew C. Klein
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Banks' deposits at the Federal Reserve have dropped by about $1 trillion since the end of last year. The impact has been borne primarily by U.S.-based…
Matthew C. Klein
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The latest data on incomes and consumption (for May) suggest that most households were in solid financial shape.
Matthew C. Klein
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Data indicate that the Putin regime remained under pressure as of May.
Matthew C. Klein
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More stuff where it's possible, less demand where it's not.
Matthew C. Klein
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For the first time since the introduction of covid vaccines, America's central bankers believe that a price must be paid to bring inflation back under…
Matthew C. Klein
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The appropriate response depends on the cause of the problem.
Matthew C. Klein
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