Gita Gopinath: Lower US trade deficits will require bringing fiscal deficits, currently projected at more than 6% of GDP for foreseeable future, to more sustainable levels, and serious pivot by China towards consumption-led growth. Neither is impossible. giftarticle.ft.com/giftarticle/...
Baltimore hotel sold in 2020 for $80 million. It went for $30 million Wednesday in 47-second auction. www.thebanner.com/economy/grow...
the MAGA Shoes discourse is the only thing keeping me going, honestly
And electricity prices. The electricity index increased 4.8% over the last 12 months (thru February) and the natural gas index rose 10.9%
In case you've been wondering about the price of eggs ($2.50/dozen in February, according to the CPI) www.bls.gov/charts/consu...
Btw those of you looking for evidence of tariff prices inside the Feb CPI it’s on vivid display. Appliance costs jumped 3.1% & apparel costs soared 1.3% the most in eight years. #Econ #EconSky
City may buy the building for the Frankfurt European School (for kids of EU officials), but Bundesbank will keep underground vaults where half of Germany's gold reserves are stored.
Bundesbank scraps plans to move back into its brutalist Frankfurt HQ, despite spending €168mn on stripping asbestos.
A decade after it decided to redevelop the building into a new “campus” for its 5,400 employees, it's now looking to buy new premises downtown.
giftarticle.ft.com/giftarticle/...
My favorite was the Linkedin suggestion that I apply for an opening as a research assistant...to me.
Martin Wolf tells central banks NOT to look thru oil/gas price spike "to ensure that inflation expectations do not get unanchored. Unfortunately, the price spike after Covid makes this more likely. Central banks must be prepared to act against second-round effects of big price rises."
Correction. Sen *Rand* Paul
Sen. Ron Paul: “Madison never imagined or envisioned a Congress with no ambition. This is a Congress without ambition. This is a Congress without really a belief structure in defending legislative prerogative. They just are a rubber stamp for whatever a president tells them to do.” wapo.st/3Pa6QFm
Q: You said the war is 'very complete.' But your defense secretary says 'this is just the beginning.' So which is it?
TRUMP: You could say both
Maybe, but that's not what Fed funds futures markets suggest for US.
www.ft.com/content/4e91...
Thanks, but no thanks, @financialtimes.com
BLS: Since reaching a peak in October 2024, federal government employment is down by 330,000, or 11.0%.
Here at the Fed, we are rationally exuberant to celebrate your 100th birthday with you. Happy birthday, Alan Greenspan!
youtu.be/lp1sJDa5MsI
CBO says SCOTUS ruling on IEEPA tariffs (not counting 122 tariffs) results in projected deficits $2.0 trillion larger over FY 2026–2036 period than in baseline projections last month -- $1.6 trillion in larger primary deficits and $0.4 trillion in debt-service costs. www.cbo.gov/publication/...
Trump formally nominates Kevin Warsh "of Florida"-- for the seat on the Board of Governors in which Miran currently sits .
Today, 24 states, led by Oregon, filed the first lawsuit challenging Trump's Section 122 tariffs. The case is before the US Court of International Trade, which has exclusive jurisdiction over cases challenging tariffs reason.com/volokh/2026/...
YARDENI, on Blue Owl's Technology Finance fund:
".. If the company has to sell its loans in the open market, the Street will find out whether the net asset values of its private loans, which don’t trade, are accurate. ..
".. you never know what something is worth until you try to sell it."
$OWL
About those new Trump accounts. They're very complicated. From American Action Forum (Doug Holtz-Eakin's shop)
www.americanactionforum.org/daily-dish/t...
ATTN all tax geeks. ICYMI. Here's a video of the panel on the 100th anniversary of the Joint Committee on Taxation. (I was among the panelists)
www.youtube.com/watch?v=4P9-...
Sources:
www.nytimes.com/interactive/...
www.nytimes.com/2026/02/18/u...
news.bloomberglaw.com/daily-labor-...
Neither Beth Hammack and Neel Kashkari, both voters on FOMC this year, favor near-term cut in interest rates.
www.nytimes.com/2026/03/04/b...
and
www.wsj.com/economy/cent...
