Economic Intel Special Edition November 2023
Yesterday, the Atlanta Fed revised up its nowcast of Q4 real GDP growth to 2.1%. The nowcast was revised up by 0. 9 percentage points after increases to personal consumption growth and gross private domestic investment. The New York Fed nowcast is slightly higher at 2.4%. (Growth rates are q/q at an...
PCE Inflation September 2023
At 8:30am, BEA announced that in Sep: Real DPI (disposable personal income) fell by 8bps m/m. While incomes rose, prices rose faster. Nevertheless, real PCE (personal consumption expenditures) rose by a strong 38bps m/m. A large component of higher consumption spending has b...
Q3 2023 GDP Release
BEA announced that in Q3: • The economy expanded at a rapid pace. Real GDP growth printed at 4.9% vs. 2.1% in Q2. o The print beat the expectations of professional forecasters. The Blue Chip consensus was 3.5%. o However, the print fell slightly short of the 5.4% nowcast from the Atlanta Fed’s GD...
September 2023 CPI Report
New Report: Does Government Crowd Out Social Capital?
WASHINGTON—Ranking Member Mike Lee (R-UT) released a Joint Economic Committee report this week examining whether the growth of American government has contributed to declining social capital in the United States.
Lee Report Highlights Policies for Unleashing American Entrepreneurship
WASHINGTON—Today, Ranking Member Mike Lee (R-UT) released a Joint Economic Committee report highlighting policies for unleashing American entrepreneurship.
Lee: Inflation Is Costing Americans $747 Each Month
WASHINGTON—Inflation cost Americans an extra $747 in November, according to the Joint Economic Committee's State Inflation Tracker following today's reports that inflation remains elevated across the country.
Lee Releases Report on Policies to Reduce Homelessness
WASHINGTON—Ranking Member Mike Lee (R-UT) released a new Joint Economic Committee report this week outlining policies to reduce homelessness. Driven by drug abuse, deinstitutionalization of the mentally ill, family instability, and high housing costs, homelessness is a growing problem in U.S. cities...
Lee Releases Report on Consequences of Declining Fertility for Social Capital
WASHINGTON—Today, Ranking Member Mike Lee (R-UT) released a new Joint Economic Committee report on the consequences of declining fertility for social capital.
Ranking Member Mike Lee on November Jobs Report
WASHINGTON—Senator Mike Lee (R-UT), Ranking Member of the Joint Economic Committee, made the following statement after the Bureau of Labor Statistics announced that the economy added 263,000 jobs in November:
