Week in Review: Jan. 10-14, 2022

This is my first post that’s only for paid subscribers. There’s no free rider problem here. This is a private good, not a public one. I just hope you think it’s good in the first place. If you don’t, we can all take solace in the impending three-day weekend–one that celebrates equality and progress. Let’s begin.

Monday

There weren’t any big data releases or news stories this Monday, which is just how it should be. Mondays are manic enough as it is.

Tuesday

Fed Chair Testifies

Federal Reserve Chair Jerome Powell testified in front of the Senate Banking Committee as part of his re-confirmation process. He seems ready to take a sharply less accommodative approach and reiterated the notion that combatting inflation is among the Fed’s two principal objectives. In fact, achieving the other goal, full employment, depends on constraining inflation. Among other things, he said, “high inflation is a severe threat to the achievement of maximum employment.” Transitory is dead, long live transitory!

Wednesday

Consumer Price Index