habemus praefectus!

This blog post accompanies the SDPB Monday Macro segment that airs on Monday, December 6, 2021. Click here to listen to the segment, which begins at minute 22:20 into the broadcast. Please note, a technical difficulty interrupted the latter part of the segment. We have a chairman! On Monday, November 22, 2021, U.S. President Joe […]

three wishes

This blog post accompanies the SDPB Monday Macro segment that airs on Monday, November 1, 2021. Click here to listen to the segment, which begins at minute 21:00 into the broadcast. Most central banks make one or two wishes: maintain low inflation or maintain low inflation and maintain low unemployment. For example, in the case […]

always and everywhere

This blog post accompanies the SDPB Monday Macro segment that airs on Tuesday, October 5, 2021. Click here to listen to the segment, which begins at minute 23:00 into the broadcast.) Inflation is having a moment. Seems everyone is talking about it and who is to blame for it. A few months ago, economists and […]

wagering on recovery

This blog post accompanies the SDPB Monday Macro Labor-Day edition, which airs on Tuesday, September 7, 2021. Click here to listen to the segment, which begins at minute 23:00 into the broadcast.) Last Friday, September 3, the United States Bureau of Labor Statistics (BLS) reported that, in August, the number of employed persons grew by […]

in search of a beveridge

This blog post accompanies the SDPB Monday Macro segment that aired on Monday, August 2, 2021. Click here to listen to the segment, which begins at minute 24:25 into the broadcast.) In late July, I traveled to Pierre, South Dakota to participate in the South Dakota Bankers Association’s Agricultural Credit Conference. I was slated to […]

abc𝗌 of cbdc𝗌

This blog post accompanies the SDPB Monday Macro segment that aired Tuesday, July 6, 2021. Click here to listen to the segment, which begins at minute 21:25 into the broadcast.) Central bank digital currency (CBDC) is not cryptocurrency. Indeed, at the moment, CBDC is not anything, really; it doesn’t exist in a practical sense. Conceptually […]

tales from the crypt

This blog post accompanies the SDPB Monday Macro segment that aired Monday, June 7, 2021. Click here to listen to the segment, which begins at minute 26:30 into the broadcast.) This weekend, more than 10,000 people met—up close and in person—in Miami for Bitcoin 2021, the largest conference of its kind. According to the New […]

postscript: great expectations

This blog post is a postscript to the Monday Macro segment, “Great (Inflation) Expectations,” which aired on Monday, May 17. (Click here to listen to the May 17 segment, which begins at minute 23:30 into the broadcast.) The year-over-year rate of CPI inflation is not likely to trend at 2.0 percent anytime soon. In our […]

great (inflation) expectations

This blog post accompanies the SDPB Monday Macro segment that airs Monday, May 17. Click here to listen to the segment, which begins at minute 23:30 into the broadcast.) On May 12th, the nonpartisan United States Bureau of Labor Statistics (BLS) released its measure of the consumer price index (CPI) for April 2021. According to […]

c-b-uh-oh

This blog post accompanies the SDPB Monday Macro segment that aired Monday, April 12. Click here to listen to the segment, which begins at minute 24:50 into the broadcast.) On March 4th, the nonpartisan United States Congressional Budget Office—what economists affectionately refer to as the CBO—released its March 2021 long-term budget outlook for the federal […]