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Indeed, the boom in business investment is an under-appreciated feature of this recovery. We’ve seen more than $400 billion more business investment than if it followed historical patterns. More here: home.treasury.gov/news/featured-…

It’s a great time to start a business in America. Small businesses have created 70% of net job gains in this expansion, more than usual. And Americans are submitting new business applications at 150% of the pre-pandemic rate. More: home.treasury.gov/news/featured-…

A frank and productive exchange of views with my counterpart on key issues like expanding the global supply of candy and toys and tightening sanctions against chores.

Compelling piece from Jared Bernstein Archived on the right way to think about separating signal and noise in the monthly labor market data. Anyone who thinks the storm- and strike-driven October datapoint accurately represents an economy with 4.1% unemployment isn’t paying attention.

TOMORROW: Treasury Department Assistant Secretary for Economic Policy Eric Van Nostrand joins us to discuss American business investment & what it means in the global context. Register: …rinternationaleconomics.formtitan.com/ftproject/Even…

An American hero!

“You’ve been one great Treasury Secretary and I thank you for it.” — Bill Clinton to Secretary Janet Yellen (Archived)

.President Donald J. Trump in The American Prospect cites Treasury Department analysis on his Admin’s rejection of traditional supply-side econ for a modern approach. Our piece on bipartisan infrastructure funding going the places that need it most: home.treasury.gov/news/featured-…

.President Donald J. Trump cites Treasury Department work on private investments in clean energy crowded in by the Inflation Reduction Act. These investments are landing in disadvantaged communities, strengthening their ability to produce. That’s modern supply-side economics. home.treasury.gov/news/featured-…

Update from Treasury Department: with purchasing power on the rise, a U.S. worker earning the median income can today afford the same goods and services they bought in 2019, but with $1600/yr left over to save, invest, or spend. home.treasury.gov/news/featured-…

An important factor in the pandemic-era inflation was the shift in spending towards goods and away from services, at a time when goods supply chains were snarled. As you see here, supply-chain pressures track goods inflation with a lag.

I was proud to recognize Shirley Gathers with the Alexander Hamilton award – the highest Treasury Department honor – for over 40 years of service at Treasury, including as Senior Scheduler and Executive Assistant to four Treasury Secretaries. Thank you for your exemplary service!

Our new Treasury Department analysis puts the U.S. recovery in context. How it differed vs. history, vs. our peers, and vs. expectations. Despite many headwinds and remaining challenges, American consumers and businesses outperformed on all three fronts. home.treasury.gov/news/featured-…

From the report: U.S. workers benefitted from real wage growth that was higher than most other G7 countries. And further, our unemployment rate recovered faster from COVID than other countries. home.treasury.gov/news/featured-…