Most data releases are of seasonally adjusted data, and that is a problem. No one knows what the exact seasonal patterns in the economy are. We estimate them. The new jobs data release is an […]
Read moreI always figured that the administration would take credit for any eventual economic recovery, but I also figured that they would wait for the recovery. Wrong. Cristina Romer, perhaps buoyed by yesterday’s GDP release and […]
Read moreThe Bureau of Economic Activity’s recent release of their initial estimate of the United States second quarter GDP growth implied that the U.S. economy had improved dramatically. Economic growth was still negative, but it had […]
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