Labor market statistics can be confusing to nearly anyone who has not had a good introductory macroeconomics course. Take, for instance, the regular disconnect between the number of jobs created (or lost) and the up-and-down fluctuations of the unemployment rate…
Market efficiency not always clear-cut
Financial markets have been jittery lately, with sundry prices and rates jumping up and down. This included 2 percent drops in U.S. stock indexes on Jan. 24 and Feb. 3, neither of which was related to news on any underlying…
Empty gestures by politicians have little economic impact
Americans have conflicting impulses about government action in the economy. The idea that government “interference” in markets usually is harmful is popular these days. Yet when there is a problem, the idea that “the government ought to do something” still…
Effects of new Fed policy felt globally
Several countries with emerging markets are in economic trouble. This is not news in all cases, yet it seemed to take Wall Street by surprise. The values of the currencies of Argentina, Ukraine and Turkey, relative to major currencies like…