A bit of a hawkish surprise on taper timing, but also two very dovish consolation prizes.
Donald L. Luskin
On the July Jobs Report
Friday, August 6, 2021
26 states stop paying people more not to work than to work – and voila!
Let It Go, Let It Rip
Wednesday, August 4, 2021
There’s downside risk to Friday’s payrolls. But Delta won’t derail a productivity-led boom.
On the July FOMC
Wednesday, July 28, 2021
Was the use of the word "substantial" a little too insubstantial? Points to a split Committee.
Are Stocks and Bonds Actually Agreeing with Each Other?
Monday, July 26, 2021
Yes: Bond yields topped out when Biden abandoned Modern Monetary Theory.
No, We Still Don’t See $100 Oil
Tuesday, July 6, 2021
And no, it’s not “the end of OPEC.” It’s in Saudi’s interest to make it right with UAE.
On the June Jobs Report
Friday, July 2, 2021
A new wrinkle: workers are quitting to get the “new worker premium” elsewhere.
$100 Oil?
Monday, June 28, 2021
For the moment Saudi dictates prices, and they say “it’s my job” to stop a “super-cycle.”
On the June FOMC
Wednesday, June 16, 2021
Did the FOMC just say the economy will grow faster without massive new federal spending?
On the May Jobs Report
Friday, June 4, 2021
The good news for next month: many states are halting paying more not to work than to work.