Page 3 - Team Transitory News Today

But another year of raw uncertainty is waiting for us

The former Treasury secretary sounded the alarm early about the inflation threat. Now he worries about the Fed’s ability to get it under control without...

AUSTIN, Texas: In his Nov. 7, 2023 New York Times newsletter, economist Paul Krugman asks a good, albeit belated, question: Why did so many economists get the inflation outlook wrong? After all, the near-consensus among mainstream economists in recent years was that inflation would persist — and even accelerate — and that this justified substantial interest-rate hikes by the United States Federal Reserve (Fed). Yet the quasi-inflation of 2021–22 proved transitory.

In a small legislative body where seniority equals power and influence, Dianne Feinstein's decades-long Senate reign warped national policy and federal spending priorities to favor her home state.

In a small legislative body where seniority equals power and influence, Dianne Feinstein's decades-long Senate reign warped national policy and federal spending priorities to favor her home state.

New York Times economist Paul Krugman appears to have finally admitted defeat on the issue of inflation, adding another notch to his belt of being consistently wrong on economic issues.

Structural inflation is very different from what the economy has experienced lately. It overrides the market mechanism. A classic example: rising college costs.

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Many commentators are crediting disinflation to the Fed’s interest rate hikes, but the more you look at that claim, the less plausible it seems.

When the Federal Reserve meets this month, someone should mention the widely derided Team Transitory from 2021. Remember them? (Full disclosure: I was a…