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The author WARREN MOSLER
WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

Mosler Economics

Personal income and spending, consumer sentiment

Modest growth continues.The data keeps telling me the rate hikes are helping the economy rather than hurting it: This is nominal, not adjusted for inflation, and there is no evidence of rate hikes slowing anything down: Same here for inflation-adjusted consumption: Too soon to say it is turned up, but better than expected and not indicating a recession: “The University of Michigan consumer sentiment for the US was revised lower to 58.6 in September of 2022 from a...

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Industrial production, retail sales, unemployment claims, comments

This index is settling in to about a 3.5% annual rate of growth.No recession indication here: No recession here either: No sign of recession here: Markets are being driven by the understanding that the Fed will continue to raise rates until there is a recession, not realizing that rate increases, with debt/GDP as high as it is,result in a sufficiently large increase in government deficit spending on those interest payments to support both the growth of private sector total...

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Unemployment claims, PMI services, mtg applications and lending

No sign of recession, and lots of indications the rate hikes that are adding to deficit spending as supporting the economy and prices, and not depressing them, and more rate hikes will only do more of same. And it doesn’t end until the Fed understands it has had it all backwards: This is about 85% of the economy. No recession yet. More and more the data is telling me debt/gdp is plenty high for rate hikes to be supportive of total spending in the economy: Housing has been...

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