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Explaining key issues that are influencing the economy's path—and policy debates—as they occur. The whole "Making Economics Make Sense" thing...

Byron Gangnes

Japan Update: Struggling to escape inflation’s drag

by Byron Gangnes COVID's aftermath brought soaring inflation to Japan, a country that averaged less than 0.2% inflation between 1995 and...

Byron Gangnes

The supply side: AI, immigration, and non-inflationary growth

UHERO blog post: The US economy surprised to the upside last year. Inflation receded rapidly without large-scale labor market pain. In...

Byron Gangnes

Could the markets be right about coming Fed rate cuts?

UHERO blog post: There is a marked difference between what Fed officials expect about their likely interest rate cuts this year and what...

Byron Gangnes

How do they measure CPI shelter inflation? How come?

by Byron Gangnes Since it keeps coming up, let me spend a few minutes explaining this. Here is a basic summary of the approach used by...

Byron Gangnes

The Fed's Economy: A December Pre-Meeting Update

The Federal Open Market Committee begins its last meeting of the year tomorrow in Washington, DC. Here’s the economic picture they will...

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