Political economy seem based more on politics than economics. Apparently people think the best party to manage the economy is whichever one is not currently in the White House. (Data from Gallup)

Powell just confirmed that yes, the staff had forecast a recession, and no, they're not forecasting one any more. It has taken a year and a half, but finally the inevitable recession is recognized as not so inevitable and not so recessionary.

Should government leave this issue to elite colleges? (Maybe it should at least saber-rattle?) rhttps://www.brookings.edu/events/who-gets-into-college-and-why-does-it-matter/ Brookings Econ The Brookings Institution

Good news: @Econ_Harris is an unusual combination of economic policy experience and practical involvement with business and finance, all with a solid economic base. Brookings Econ The Brookings Institution

I normally don't post about politics but it seems like political fantasy is found in both parties. Sid Blumenthal's article is worth reading. theguardian.com/commentisfree/…

Maybe the post-COVID economy is more complicated than we knew.

Supreme Court experts: Why was this decision unanimous? David French thinks it's an odd reading of the Constitution. [I'm not looking to argue, just understand. Perfectly OK to respond with a url to an article.] nytimes.com/2024/03/04/opi…

Part of the reason people are so unhappy about #inflation is that no one knows that wages have been catching up. Maybe someone should tell them? Here's my view why: Brookings Econ brookings.edu/?p=1774439&pos…

No question that #inflation is a major problem, but shouldn't both the media (& President Biden, whose job may hang on this) be talking about the fact that wages are catching up -- and what people can do for them to catch up more?

Everyone knows prices are rising (except for the ones that aren't) but almost no one knows that wages are catching up or that governments from the President on down have been taking concrete steps to raise wages more. Does President Biden or media talk about this? #inflation

Maybe someone should tell them?

Any wonder that folks think the economy's bad? The @NYTimes excellent @JeannaSmialek offers an expert's guide to the economy without even mentioning that #wagesarecatchingup to #inflation. nytimes.com/2024/06/27/us/…

Today's BLS-Labor Statistics: #WagesareCatchingUp to #inflation. The @NYTimes took note, as did President Biden. If enough people find out, maybe opinions about the economy will improve. Brookings Econ bit.ly/WagesT00

And it continues to look as though #WagesAreCatchingUp to #inflation. Worth mentioning.

Perhaps also worth mentioning: Average pay has caught up with rising prices since January 2021

With all the focus on #inflation, it's worth noting that average pay has now caught up. Everyone knows prices have risen, but not that wages have, on average, caught up.

Good #inflation news today. How about also reporting that, for the average person, pay has caught up to rising prices. People might feel better about the economy if they knew that. bit.ly/WagesT00

WOYT. Wendy Edelberg tracks both prices and wages carefully. As of today, by the most common measures, #wages have caught up to #inflation. Brookings Econ

Starving #SocialSecurity instead of saving it?!? Seriously? You don't #SaveSocialSecurity by eliminating taxes that help pay for it. nytimes.com/2024/08/07/bus…

A reminder that Labor Day was a struggle for ordinary workers to have a better life. That struggle continues. Worth remembering when talking to your boss about your pay & politicians about your vote. open.substack.com/pub/heathercox…