Thursday , March 28 2024
Home / Mike Norman Economics (page 17)

Mike Norman Economics

Atlanta Fed

Oops!  Down to 1.2% projected for Q4…. Let’s see if the MMT people repost this one … (Tip: don’t hold your breath waiting doesn’t fit the Democrat narrative).On November 1, the initial #GDPNow model nowcast of real GDP growth in Q4 2023 is 1.2%. https://t.co/OnYxN0CQUF #ATLFedResearch Download our EconomyNow app or go to our website for the latest GDPNow nowcast. https://t.co/ISzNblWfFW pic.twitter.com/u9CweBwBaD— Atlanta Fed (@AtlantaFed) November 1, 2023 Hard to see how a few $100B of...

Read More »

No, QE Is Not Costless — Brian Romanchuk

I ran across a couple lame attempts at blaming the U.S. Treasury for not extending the duration of issuance during the pandemic low in yields. This is entirely typical for market commentary — going after fiscal policymakers and ignoring the major culprit, which is the central bank. To the extent that the United States has put itself into an awkward macro stabilisation situation with respect to interest rate expenditures, it is the result of the brain trust at the Federal Reserve.One could...

Read More »

Bank of Japan shifts ground – just a little but there is no sign of a major adjustment any time soon — Bill Mitchell

It’s Wednesday and I use this space to write about any number of issues or items that have attracted my interest and which I consider do not require a detailed analysis. The issues discussed may be totally unrelated. Today, I provide my response to yesterday’s decision by the Bank of Japan to vary its Yield Curve Control (YCC) policy, which some commentators are frothing about. The change was very minor and is not a sign that the expansionary position of the Bank is shifting significantly. I...

Read More »

US national accounts data – no sign that interest rates are working the way economists think they work — Bill Mitchell

On October 26, 2023, the US Bureau of Economic Analysis published the latest US National Accounts figures – Gross Domestic Product, Third Quarter 2023 (Advance Estimate) – which showed that “Real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023”. The June-quarter 2023 growth rate was 2.1 per cent. There was broad-based growth in all the expenditure components, including those that would be most sensitive to interest rate rises. My prior, of...

Read More »

About This Plane… — Andrei Martyanov

Russia continues with her program of updating IL-96 line, as an intermediate wide-body solution, to IL-96-400M. This is the first aircraft of this limited series doing its take-off regime runs yesterday.Its four engines are advanced PS-90A3--a further development of venerable high-bypass ratio PS-90A. This aircraft is fully Russian made, from systems to avionics. The Russian commercial aircraft industry is self-sufficient and unaffected by sanctions.And here we are, in the new geopolitical...

Read More »