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Update – the Empire State Manufacturing Survey

(NYS) The Federal Reserve Bank of New York (FRB-NY) released its monthly report [pdf] about results from the Empire State Manufacturing Survey on November 15. Their analysis shows that overall manufacturing conditions in NYS have weakened – the current general index is in fact negative, where a negative reading indicates worsening business conditions. The weakening … Continue reading

Counteracting “Hysteresis”

(Analysis) Good observations and discussion about analysis showing estimates of lost potential in the US economy is ongoing. The analysis [pdf] suggests that through disuse, US factors of production are deteriorating, causing a longer period of time when the total value of goods and services capable of being produced in the US economy is reduced. … Continue reading

Putting a Number on the Damage Done

(Analysis) A paper [pdf], presented by employees of the Federal Reserve at an annual conference sponsored by the IMF, is getting deserved attention in various media outlets. This is important, if the analysis in the paper is ever going to contribute to policy-making here in the US. What the analysis shows is that there is … Continue reading