Oct 13, 2024

The U.S. economy continues to show strong growth, with American incomes rising at a 6% annualized rate over the past two years. This has raised concerns about inflation and interest rates, as measures of underlying inflation remain higher than before the pandemic, despite increases in productivity and employment. The recent September 2024 NIPA revisions were also highlighted in the newsletter, but the focus was mainly on the accompanying charts rather than detailed analysis.

The newsletter emphasized the importance of the job market and labor income, but the full details were only available to paying subscribers. Additionally, the author mentioned a new podcast called UN/BALANCED with Michael Pettis, which is supported by listener contributions. Overall, the newsletter provided valuable insights into the state of the U.S. economy and its potential impact on inflation and interest rates, while also offering exclusive content for subscribers.

Stay Well!