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Robert Hughes

Manufacturing Output Falls for the Second Time in Five Months

“Industrial output rose in May, but manufacturing output fell. Details were mixed and may point to spreading softening in the economy. Caution is warranted.” ~ Robert Hughes

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Richard McKenzie

Student-Loan Forgiveness Will Cover Non-Education Purchases, Say, Newer Cars

“The fungibility of student loans means that taxpayers will be saddled with paying for parents’ and students’ non-college purchases. Many professors will, understandably, root for student-loan forgiveness.” ~ Richard McKenzie

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Nathan Smith

Frédéric Bastiat’s Fruitful Fusionism

“Economists don’t know how to inculcate virtue in business elites, because, as victims of the moral confusion that MacIntyre diagnosed, they don’t know what virtue is.” ~ Nathan Smith

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William J. Luther

FOMC Projects Even Higher Inflation

“The Fed is not even committed to bringing inflation back down to 2 percent very quickly. The median FOMC member currently projects inflation will remain above target through 2024. We had better get used to high inflation. We will likely be dealing with it for years.” ~ William J. Luther & Morgan Timmann

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