Liveblogging World War II: 17 August 1941
The Ability to Use the Printing Press to Inflate Away Your Debt Gives Investors More Confidence in Your Bonds

Department of "Huh?!": Federal Reserve Dissenters Edition

FRED Graph  St Louis Fed 2

When Federal Reserve Bank of Philadelphia President Charles Plosser parrots his talking point about how the labor market has improved and the unemployment rate has fallen…

Does he not know or not care that the employment-to-population ratio has fallen? Does he not know or not care that more than 100% of the decline in the unemployment rate is due to a smaller fraction of adults seeking work than six months or a year or a year and a half ago, and that less than zero is due to a greater fraction of adults actually having jobs?