William J. Luther
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Financial
Fed Rate Cuts: Better Late than Never
"A 50 basis point cut in its federal funds rate target on Wednesday marks a reversal at the Fed." ~William…
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Financial
Inflation Slightly Below Target in July
"The federal funds rate target range is likely to be at least a full percentage point lower by the end…
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Financial
Competing Narratives on Real Wages
"Democrats want to take credit for the higher real wages. Republicans want to deny that real wages are higher. Both…
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Financial
Should the Fed Get Credit for Lower Inflation?
"Labor market developments cannot explain the decline in nominal spending growth. Tighter monetary policy can... Given the lags of monetary…
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Financial
Prices Decline in May, Monetary Policy Tightens
"Prices today are 8.9 percentage points higher than they would have been had the Fed hit its 2-percent inflation target…
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Financial
FOMC Holds Rates, Revises Forward Guidance
"Just as the FOMC was slow to adjust policy when inflation surged in late 2021, it will be slow to…
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Financial
Inflation Continued to Decline in April
"While inflation is declining once more, members of the Federal Open Market Committee (FOMC) have suggested rates would need to…
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Financial
Inflation Undershoots Fed Projections
"The FOMC changed course last week, foregoing a previously projected rate hike and projecting deeper rate cuts in 2024 than…
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Financial
Fed Continues to Signal Another Rate Hike
"If core inflation is more or less on track, why are most FOMC members projecting another rate hike?" ~William J.…
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Financial
Whipped Inflation Now
"The battle for 2 percent inflation has already been won. Fed officials should acknowledge and celebrate the victory." ~ William…
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