In 2021 many stories about inflation due to idiosyncratic factors like used cars. There was some truth to that. In 2024 many stories about idiosyncratic factors like insurance. Much less truth. The evidence: dropping all outliers lowered inflation a lot in 2021 but not now. pic.twitter.com/PvDJbif5HP

JUST IN: The US economy added a net 175,000 jobs in April — a solid gain, but below expectations of ~250k. Healthcare was the big sector hiring. Unemployment rate: 3.9% —> The unemployment rate has been below 4% for 27 months. That hasn’t happened since 1967-70. Wages: +3.9% in… pic.twitter.com/RKYy1orroq

One of the clips from yesterday morning's conversation on @BloombergTV. www.bloomberg.com/news/videos/2024-05-03/el-erian-says-goldilocks-jobs-report-will-please-fed?sref=wFBeaN16 #economy #jobs #employment #unemployment #federalreserve #centralbanks #econtwitter

As a follow-up to yesterday's #FederalReserve press conference, here are some thoughts on why Chair Powell's surprisingly dovish tone and context may end up being appropriate...though not for the reasons he put forward. www.ft.com/content/aa8c68f7-9dad-465f-ab92-c64c38337a84 #economy @FT #markets #inflation