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“The services sector expanded in January, but Covid continues to impact operations. Shortages of labor and materials continue to restrain output and sustain upward pressure on prices, though cresting new cases of Covid may provide a small amount of relief.” ~ Robert HughesREAD MORE
“Fortunately, especially for the regular people who would stand to suffer the most under a politicized Fed, there were enough conservatives to band together to block Trump. Will there be enough principled liberals to sanction Biden?” ~ Daniel J. SmithREAD MORE
“An evolutionary lens isn’t just a corrective for how to live in the 21st century and how to understand our modern predicaments. It also teaches you how markets work, what constraints reality puts on us, and how to consider outcomes you don’t like.” ~ Joakim BookREAD MORE
“Weekly initial claims for unemployment benefits fell again, pulling back from a three-month high two weeks ago. Overall, claims remain at a very low level by historical comparison. Most data suggest the labor market remains very tight.” ~ Robert HughesREAD MORE
“The Fed already lost credibility by missing its stated inflation target, and the nomination of partisan actors such as Cook would further throttle its credibility.” ~ Phillip W. Magness & David WaughREAD MORE
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