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jasonfurman.bsky.social
Professor of Practice at Harvard. Teaches Ec 10, some tweets might be educational. Also Senior Fellow PIIE. Was Chair of President Obama's CEA.
415 posts 17,820 followers 223 following
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Take a deep breath: 1. Trump might end up hurting the economy but this is based on data for the economy up through Jan. So hard to attribute to him. 2. Still huge error margin because lots of data missing. And other trackers still positive for Q1 (although <2%). www.atlantafed.org/cqer/researc...

submitted 38 minutes ago • 3 comments

Blanchard, Gali and Woodford, "central architects of the New Keynesian paradigm," win BBVA Award for integrating “monopolistic competition and nominal and real rigidities into dynamic general equilibrium models with rational expectations.”

submitted 1 hour ago • 3 comments

Big decline in real consumer spending in January (biggest since Feb 2021). Follows Dec's increase, one of the bigger ones in recent years. Main takeaway: hard to measure the economy at a monthly frequency, especially in Dec/Jan, especially shifting spending/pricing patterns.

submitted 1 hour ago • 0 comments

I thought I was done with real infrastructure spending but CBO just released new data this afternoon (1st time in years) & it confirms what is also shown by Census/DOT, BEA & OMB--real public investment fell from 2019 to 2023. (Exception is rail which is volatile & 1% of total.)

submitted 18 hours ago • 1 comment

I got a question about other types of infrastructure. Real federal, state and local investment in structures was down 14% from 2019 to 2023 according to BEA data. It was down in every category except health care. The thread below focuses on the highways and streets category.

submitted 22 hours ago • 2 comments

GDP growth in Q4 was revised from 2.3% to 2.3%. So instead of posting a new thread I'll just link to last month's thread (even if some components changed). Note, inflation was revised up a bit. bsky.app/profile/jaso...

submitted 1 day ago • 1 comment

Real highway investment is likely down since the enactment of the Bipartisan Infrastructure Law in November 2021. Best guess is down by 10% or more but possible is down by less or even flat. This🧵shows my preferred measure (the standard one experts use) & two alternatives.

submitted 1 day ago • 3 comments

A break from the Trump 2 content for a much wonkier thread: discussion from Jason, @pdriessentax.bsky.social, and I on US-EU unemployment differences after Covid and the limits of what we can learn from them. Looking forward to econ Bluesky getting back to its roots with discussions like these!

submitted 2 days ago • 0 comments