The decline in incomes was partly related to big one-time Social Security payments to government workers, which boosted incomes earlier this year. But real incomes *excluding* transfer payments (a measures used by NBER in recession calls) also fell.

Republicans introduce last-minute industry ‘killer’ tax on solar and wind in spending bill | CNN

fortune.com/2025/07/01/jer…

npr.org/sections/shots…

Reporter: More soaring prices at the grocery store. The cost of beef is hitting record highs across the country. Prices are up 9% since January, and beef is retailing at the grocery store for on average $9.26 a pound. That is a dramatic increase since the beginning of the year

The labor participation rate fell again to 62.2% and is now down half a percentage point in a year. wsj.com/opinion/donald… via Wall Street Journal Opinion

On April 30th, Josh Smith of Montana Knife Company said you won't have to worry about tariffs if you buy American. Last week, he realized his costs are going up bc he imports equipment and steel. And so do his suppliers. IMO many people aren't aware of how much they import.

You don’t have to wait a month to submit and our median time to first decision is 27 days!

Big news — I'm launching a Substack on immigration policies that work! Whether you see immigration as an opportunity or a problem, the truth is it can be better. Popular by Design will feature new ideas for making immigration both more functional and sustainable. If you care

theatlantic.com/politics/archi…

Goldman's latest (still very early) analysis of tariff effects thru June 2025: -Foreign exporters absorbed 14% of US tariffs -US companies ate 64% -US consumers ate 22% -Protected US companies also raised prices -Consumers will see bigger price increases (70%) thru the Fall

pewresearch.org/politics/2025/…

#OpenAccess from @PSRMjournal - What moves (spending) mood? The nature and origins of parallel public preferences - cup.org/3HdCwX3 - Steven M. Van Hauwaert, @cbwlezien & Ryan E Carlin #FirstView

Job market gloom hasn't been this bad since the Great Recession trib.al/wj6nWtB

New Cambridge Element Voters' Perceptions of Party Brands by David Fortunato 🆓, Thiago Nascimento da Silva and Laron K. Williams is now free to read for 2 weeks! cup.org/46WFE3S #cambridgeelements #politics

prospect.org/economy/2025-0…

The public becomes more supportive of multiple types of social spending when the economy grows, when spending overall declines, & under Republican presidents, explaining why the public tends to simultaneously grow more liberal or conservative across issues cambridge.org/core/journals/…

New poll shows more Americans 'strongly disapprove' of Trump's second term: What to know usatoday.com/story/news/pol… via @usatoday

businessinsider.com/stagflation-tr…

abcnews.go.com/Health/cdc-dir…