Viewpoints

Consumer price inflation is experiencing its most significant increases in decades. Yet, reported inflation does not capture the full scale and breadth of experienced inflation. I never thought the US would experience rampant [...]

The incoming economic data over the past few days have – on the whole - painted a bright picture of the world economy. May's purchasing managers surveys for the US and Europe, published last week, suggested a broadly based improvement [...]

In May, the Institute of Supply Management (ISM) reported that lead time for production materials jumped to 85 days, up from 79 in April. The May reading is an entire work-day month (21 days) above the level from one year ago and the [...]

In Q1 2021, the US economy registered double-digit annualized growth in nominal GDP, a rare occurrence. Yet, an even more rare event is that corporate operating profits did not increase in the quarter when GDP growth increased double- [...]

Navigating the twists and turns of economic and financial market data has never been easy. But the interplay between economic outcomes and financial market outcomes is often the most perplexing. Who would have thought, for example, [...]

The Federal Reserve Bank of Philadelphia's state coincident indexes in April show widespread dispersion of activity. In the three months ending in April the indexes for 49 states increased (Delaware again inched down). 15 states, [...]

Job growth was generally modest across the states in April, corresponding to the muted national figure. California was an outlier, with a strong payroll gain of nearly 102,000 (0.8 percent). Hawaii’s job count grew a vigorous 1.8 [...]

Last week’s surprisingly big climb in April’s US CPI data has further energised a debate about inflation. In one corner of that debate are a majority of economic forecasters and policymakers. The view here is that any recent and [...]