.Allison Schrager for Bloomberg Opinion: 'Contemporary art, like other industries, offers big financial rewards to just a few stars. For everyone else, it is nearly impossible to make a living.' bloomberg.com/opinion/articl…

To control inflation, Congress and Biden admin should stop undermining the Fed: 'pull back on spending, stop handouts, especially to higher earners who don't need them, and reduce the debt.' Manhattan Institute senior fellow Allison Schrager's Senate testimony manhattan.institute/article/testim…

NEW from me. My op-ed for City Journal takes on the stale myth that fixing Social Security is as easy as eliminating the $168k wage cap on its FICA taxes.

SocSec deficits would return in 5 years, and nearly all other 'tax-the-rich' priorities left behind.
city-journal.org/article/raisin…

Jobs Day: The US added 175,000 jobs in April, way below estimates.

Tune in as Jonathan Levin joins Allison Schrager and Nick Colas & Jessica Rabe (DataTrek) to break down the latest data 📊
twitter.com/i/broadcasts/1…

It’s Jobs Day! Will this resilient labor market ever slow down? 📊

Tune in as Jonathan Levin joins Allison Schrager and Nick Colas & Jessica Rabe (DataTrek) LIVE to break down the data: 8.25am ET trib.al/QK1CgEX

The US and UK may envy Australia’s A$3.7 trillion private pensions, but retirees worry it won't be enough trib.al/1w5l1PR

It’s Jobs Day tomorrow! Will this resilient labor market ever slow down?

🎥 Tune in as Jonathan Levin joins Allison Schrager and Nick Colas & Jessica Rabe (DataTrek) LIVE to break down the data: 8.25am ET twitter.com/i/broadcasts/1…

.Allison Schrager just nuked the 'shrinkflation is causing today's inflation' narrative in her Senate testimony.

banking.senate.gov/hearings/highe…

.Allison Schrager for Bloomberg Opinion: 'Contemporary art, like other industries, offers big financial rewards to just a few stars. For everyone else, it is nearly impossible to make a living.' bloomberg.com/opinion/articl…

Rules vs discretion ?

Discretion is costly and can be very costly

Options are expensive

Their price is the cost of flexibility

Their value and cost increase with uncertainty

It applies to everything in life

Events since December crystallized one more thing: The Fed doesn’t know much more about its actions in six months than we do. This experience and the fundamental uncertainty of this unprecedented environment should temper the desire to put too much weight on any forward guidance.

Like other industries, @allisonschrager says, contemporary art offers big financial rewards to just a few stars. For everyone else, it is nearly impossible to make a living trib.al/8Na3DoD via Bloomberg Opinion

Like other industries, @allisonschrager says, contemporary art offers big financial rewards to just a few stars. For everyone else, it is nearly impossible to make a living trib.al/kbUc0ND

Like other industries, @allisonschrager says, contemporary art offers big financial rewards to just a few stars. For everyone else, it is nearly impossible to make a living bloomberg.com/opinion/articl… via Bloomberg Opinion

Occupying a building and praising the martyrs all while wearing a Choate sweatshirt. It says everything. x.com/TheFP/status/1…

Iconic

Ken Rogoff etal VoxEU
1. globalisation, market liberalisation, fiscal restraint were disinflationary.
2. These are reversing
➡️Occasional bouts of inflation more likely than bouts of deflation
(🔗 cepr.org/voxeu/columns/…) Harvard Department of Economics Yale Department of Economics Columbia Economics…

'Keep in mind that market efficiency does not mean prices make sense, it just shows that you can’t out guess them.'

— by Allison Schrager allisonschrager.substack.com/p/heres-your-s…

Can markets still be efficient if most investors aren’t even paying attention? Surprisingly, @allisonschrager says, the answer is yes trib.al/8jSh5HU

Core PCE inflation over the last 3 months was a 4.4% annual rate. That is higher than any time from Nov 1990 to Mar 2021.

Yes, there were special factors, seasonal issues, etc. But there were also special factors & seasonal issues at various times in those previous 30 years.