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Consumer Sentiment Declined in Early November
“Consumer sentiment fell in early November and remains at recessionary levels. Inflation expectations ticked up, but long-run expectations remain well anchored.” ~ Robert Hughes
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No COVID Tribunals
“Attempts to hold lockdowners personally accountable by imposing on them formal punishments would create yet another terrible precedent, one that would only compound the troubles that we’re destined to suffer from the precedent that was set in March 2020.” ~ Donald J. Boudreaux
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Inflation Remains Stubbornly High
“The neutral real interest rate is thought to be around 0.25 percent, suggesting the Fed may need to raise its nominal interest rate target another 175 to 200 basis points just to get to neutral.” ~ William J. Luther
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Meritocracy and Multiculturalism
“Will America come to an enduring settlement, not unlike our religious-political settlement, that puts race and ethnicity outside the ordinary bounds of political, educational, and employment decisions?” ~ John O. McGinnis
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