Summary Amidst all of the understandable concern with inflation and recession risks, the evidence continues to foretell a welcome inflection point on the horizon—a rare procyclical upturn in productivity growth. We continue to see signs that a maturing labor market—in...
In every month of the past twelve months, public spending on construction increased. This has never happened before in this dataset, and it is double the next-longest period of continuous increase.
What a great GDP print. 8.5% nominal growth, and 4.9% inflation-adjusted on the first revision.
This is the first of our Fed Research Roundup series. In this post, we examine the question of whether monetary policy constrains the supply-side, and what that means for inflation.
Each month, we publish a public version of the donor-exclusive Supply Chain Monitor to better inform macroeconomic discussion about developments on the “supply side.”
