NFIB SBOI data indicates exuberance and extremely high levels of optimism, though labor tightness is having knock-on effects in the housing market. NAHB and the Lansing State Journal weigh in on the housing market, input costs, and housing affordability.Read More
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The state of the American Worker appears to be good, with Manufacturing Job Openings at a 17-year high, but hiring numbers may be depressed by a lack of supply, according to Axios's Steve LeVine. A paper by Georgetown points to good paying jobs shifting to the service sector and the Kansas Fed weighs in on wage rigidities.Read More
A paper from the BIS argues that demographics will lead to reversals in long-running trends in real interest rates, inflation and wage growth, and inequality. Italian Elections loom as major candidates express hostility toward the EU and offer up proposals to circumvent Eurozone fiscal and monetary rules.Read More
Bill Dudley gives a candid interview with the Financial Times, covering the business cycle, demographics, fiscal stimulus, the labor market, and the Phillips Curve. The ECB begins to taper, maintaining that purchases will last as long as necessary, while Jens Weidmann pushes for a specific end date.