Fed officials like Jerome Powell have long downplayed CPI as a price inflation measure in favor of the PCE index. But, much like CPI, the PCE measure is now also hitting 40-year highs. In new data released today for June, the personal consumption expenditures price index rose 6.8%, the biggest 12-month move since the 6.9% increase in January 1982
In spite of the fact that real wages are going down, the cost of living is soaring, and new jobless claims are heading up at a rapid pace, and the savings rate has collapsed, what really matters to the White House, it seems, is the “technical definition” of recession. Never mind the fact that the US economy has contracted for the past two
With the release of new employment data from the Bureau of Labor Statistics today , most commentators have focused on the big gains seen in the total number of jobs as reflected in the establishment survey. According to that survey, total nonfarm jobs reached 152 million which—30 months later—finally puts total jobs back at their pre-covid peak
“Rethinking the Role of the Fed” Coming August 24 at 11:45 AM EDT, presented by the Federalist Society: Featuring: Alex Pollock, Senior Fellow, the Mises Institute Winthrop Watson, President/CEO, Federal Home Loan Bank Pittsburgh Rivers Club 301 Grant St Suite 411 Pittsburgh, PA 15219 Register
The US Bureau of Labor Statistics released new Producer Price Index (PPI) data today , and it’s not good news for consumers. The PPI is a measure of prices at the production phase of goods and services, and is often an indicator of where consumer prices are headed. Prior to 1978, the index was known as the Wholesale Price Index. This May,
Alex Pollock explains that something is wrong with the Fed, big time. And it really shows in 2022. Pollock writes:: The powerful and prestigious Federal Reserve is having a tough year in 2022 in at least three ways: It has failed with inflation forecasting and performance; It has giant mark-to-market losses in its own investments and looming
As far as the corporate media narratives are concerned, we are only allowed to hold one of two possible opinions about the George Floyd killing in 2020. On the one hand, there is the position that George Floyd was a saintly man who died as a result of a racism-inspired attack by police officer Derek Chauvin. Moreover, Chauvin deliberately killed
In recent years we’ve all become familiar with the center-left disinformation campaigns known as “fact checking” web sites. Much of the time, fact-check articles are little more than thinly veiled op-eds masquerading as “neutral” reporting on various controversial matters. The authors of their pieces select a handful of sources they find
A member of the Fort Lupton, Colorado Police Department was fired last month after she was found guilty of reckless endangerment and third-degree assault. Former Officer Jordan Steinke had arrested Yareni Rios-Gonzalez for suspected menacing and put her in the back of the patrol car of Platteville police officer Pablo Vasquez. Vasquez had parked
There are many factors that affect the yield on government bonds. Yet, it is surely no coincidence that we continue to see yields climb as the federal government churns out new government debt at a breakneck speed never before seen during peacetime. The benchmark 10-year Treasury yield—i.e., the interest taxpayers must pay on new government
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.