Macro Minute

With the conflict in the Middle East, measures of global supply chain stress are on the rise. This week's post looks at how global conditions are making an imprint on domestic economic data.

Today, many households are less able to purchase the same quantities of discretionary goods and services they enjoyed before the energy shock. How have these choices left an imprint on March's PCE report?

How do alternative inflation measures differ from the standard headline and core PCE inflation measures?

This week's post explores the most recent data on business applications to assess prospects for business formation and employment growth.

This week's post explores how the flight-to-safety effect has impacted the U.S. dollar and U.S. long-term Treasury yields since the outbreak of the Iran conflict.

How has abundant multifamily housing supply contributed to moderating price pressures in the rental market?

By itself, the combination of low hiring and low separations may not necessarily raise concerns, so what makes some economy watchers uneasy about the current labor market?

Since PCE inflation remained high at the end of 2025, this post explores these elevated price pressures, which otherwise experienced slower growth at year-end in the last decade.

Following the COVID-19 pandemic recession, earnings growth for lower-income earners significantly outpaced the median earner. The situation has now reversed with their earnings growth below the median, but the implications for earnings inequality are complicated.

Has the slowing in the labor market been common across states? Some states may be bearing the brunt of a softening labor market more than others.