your daily dose of economic commentary
Builder confidence remains steady, but future sales expectations rise due to lower mortgage rates, despite ongoing challenges in the housing market and price reductions by builders.
![[Rerun] Ariel Pakes, Professor and Economist, Harvard University](https://substackcdn.com/image/fetch/$s_!shVZ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa7dc9ca-36ca-456e-b576-92ebc5484002_1792x1024.heic)
The post features a rerun of an interview with a prominent economist, discussing his contributions to economics and personal experiences beyond the field.
Industrial production rose 0.1% in August, with manufacturing output increasing, while capacity utilization remained below the long-term average, reflecting post-pandemic recovery trends.
Retail sales rose 0.6% in August, with a 5.0% increase from the previous year, surpassing expectations and showing revisions in prior months' data.
The Associated Press reports that President Donald Trump has initiated a $15 billion defamation lawsuit against The New York Times and its journalists.
A federal appeals court ruled that Lisa Cook can remain on the Federal Reserve board, preventing her dismissal by President Trump before an important interest rate vote.
Bill McBride discusses upcoming economic data releases, including retail sales, industrial production, and a homebuilder survey, highlighting their potential impact on mortgage rates.
Menzie Chinn discusses the impact of tariffs on Wisconsin's economy, focusing on trade uncertainty and employment data in the manufacturing sector.
The post discusses the impact of new bike lanes on local businesses and assesses their value compared to the costs incurred during installation and lost patronage.
An argument that critiques the sensationalist views on AI safety and superintelligence presented by a prominent columnist, highlighting the lack of evidence and reliance on anecdotal claims.
Rafael Nam discusses President Trump's desire for companies to reduce the frequency of earnings reports and the mixed reactions from executives and financial experts.
Rachel Treisman discusses Stephen Miran's nomination to the Federal Reserve Board and the controversies surrounding his potential impact on the Fed's independence.
John Ruwitch discusses U.S. officials' announcement of a framework to allow TikTok to operate in the U.S. while details are still being negotiated.
Jadrian Wooten explores how Venmo payment choices reflect deeper insights into fairness, friendship, and mental accounting in economic behavior.
An argument that analyzes the shifting dynamics of New York's mayoral race, focusing on Zohran Mamdani's rising popularity and Andrew Cuomo's declining support.
Paul Krugman discusses the negative impact of Trump's economic policies on the American standard of living and the implications of tariffs and immigration on productivity.
The post discusses China's role in global emissions and argues that making green energy cheaper is essential for combating climate change effectively.
Bill McBride discusses the increase in single-family housing inventory and its seasonal trends, highlighting data comparisons from previous years.
Sacha Pfeiffer discusses how Democratic leaders are urging their party to adopt new digital platforms to effectively engage voters.
Menzie Chinn discusses indicators suggesting a recession may have begun, analyzing economic data and contrasting it with EJ Antoni's claims about the economy's status.