Mark Twain was rumored to have become gravely ill while traveling in London in 1897. The rumor spread rapidly across America and, according to legend, one […]
When formulating monetary policy, the “data dependent” FED needs good data. The “Labor Market Conditions Index” fits the bill. The LMCI is a type of […]
The FED constantly talks about the PCE, or “personal consumption expenditures,” when discussing inflation. What – exactly – is it? Why is it so important? And […]
