Economic Commentary
Remember when (almost) everyone was saying that U.S. businesses were hoarding workers?
Economy & Policy August 23, 2024 Chief Economist Eugenio J. Alemán discusses current economic conditions. As a businessman and ex-business owner, the idea of firms ‘hoarding’ workers never made sense. As an economist, the idea of firms hoarding workers never made sense either. And since I am a business economist, the idea of firms […]
Housing, inflation, and America’s renters, all have an Airbnb problem
Economy & Policy August 16, 2024 Chief Economist Eugenio J. Alemán discusses current economic conditions. June’s rate of inflation showed, for the first time in several years, an important slowdown in shelter costs, something that economists, us included, have been expecting for a very long time but had not materialized. July’s shelter costs came […]
Giving some context to real estate concerns
Economy & Policy August 09, 2024 Chief Economist Eugenio J. Alemán discusses current economic conditions. When the Federal Reserve (Fed) cut rates in response to the COVID-19 pandemic, mortgage rates fell below 3% in 2021 and many households refinanced or obtained new loans. Today, ~40% of homeowners own their home outright while 60% of […]
Employment still relatively strong but the U.S. economy is finally downshifting
Economy & Policy August 02, 2024 Chief Economist Eugenio J. Alemán discusses current economic conditions. The relative weakness in July’s nonfarm payroll employment number and the increase in the rate of unemployment from 4.1% in June to 4.3% in July, triggering the Sahm Rule is a reminder of the difficult tasks ahead for the […]