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Industrial Output Fell, but Manufacturing Output Rose Slightly in August
“Manufacturing output rose slightly in August. However, elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes
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Real Core Retail Sales Fell in August, Trend Growth Is Weak
“Real core retail sales fell in August, and the recent trend growth is weak. Threats to the economy remain significant, and risks remain elevated. Caution is warranted.” ~ Robert Hughes
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New Jersey Bag Ban
“When we allow the power of the state to descend into the most basic elements of day-to-day life, such as what kind of container a business can transport its products in, we see the ‘fatal conceit’ manifest in the most unfortunate and counterproductive ways.” ~ Paul Schwennesen
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Initial Claims Fall for the Fifth Consecutive Week
“Weekly initial claims fell for a fifth consecutive week suggesting the labor market remains solid. Rapid price increases, low consumer confidence, and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes
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How to Make Disinflation Less Scary
“Economists are correct in warning the public about the likely costs of disinflation. But leaders within and outside the Fed should not sit back and take these costs as given.” ~ Peter N. Ireland
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Corporate Wokeness Hurts the Groups It Purports to Help
“Corporate wokeness enriches the already rich and, inadvertently, burdens those who struggle the most. It’s bad. And things won’t improve until people ‘awaken’ to its harmful consequences.” ~ Allen Mendenhall
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