Michael R. Strain
@MichaelRStrain
Director of Economic Policy Studies and Senior Fellow at @AEI. Professor of Practice at @Georgetown. Contributing Columnist for the @FT.
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0.2% monthly core CPI was right on the bubble. A lower print would have taken some pressure off the Fed. A higher print would have added to the pressure. But this did neither.
Still, the Fed needs to hike rates. 0.2% monthly July core CPI is consistent with 3.3 percent annual July core PCE. Core PCE has been increasing for over a year. The unemployment rate has been low and stable for two years. Financial conditions are arguably easier than they were one year ago, and have been stable or falling over the summer.
Great to be on @SquawkCNBC. Link in the next post.
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"Mr. Strain said he generally agreed with much of the president’s 'general approach' in seeking to foster A.I., and that he believed the technology would benefit the economy and national security."
"As Voters Grow Anxious Over A.I., Trump Shrugs Off the Concern," by @TonyRomm.
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Amazing: Income in Poland is on track to overtake income in the U.K.
