@cullenroche@TheStalwart But, the level of "bad" is unequal. Inflation = this year you eat 4% less steak than last year. Unemployment = you eat 100% less steak, while everyone else eats 2% less steak. Is this a win?
@TheStalwart The Fed has a dual mandate of low inflation and low unemployment. How do they make decisions when their actions explicitly are aimed at helping one of those mandates, and hurting the other?
@ZoeSchiffer 1. Everyone has to show up in person for 40 hours/week.
2. All office buildings are closed.
3. You will now work 80 hours a week.
4. Wait, don't quit!
@conorsen Do they? Recent private data suggests apartment rents are falling historically fast, including during Covid. And the drop in rents will likely accelerate through the winter. Why, then, does the fed insist that rates must continue increasing and held high for a long time?
@ShaneGoldmacher@maggieNYT Which part of the republican platform is libertarian? Is it removing a woman’s right to choose, removing minorities rights to vote, or banning books?
@paulkrugman You have to consider the possibility that rents will follow the used car market into outright deflation. i.e. that rents will go all the way back to their old trendline. Currently, apartment demand is down while record supply is coming online.
@jasonfurman@paulkrugman Zillow and other indexes may be understating the decline in rents, because many apartment managers are offering “incentives” - 1 month free, for example, which is equivalent to an 8% reduction in rent (but I don’t believe are tracked into the indexes).
@BalloonWaiting@BahamaBen9@Redfin@glennkelman Redfin says it has about 53 million monthly users, which is about 20% of the adult U.S. population. The problem is that only a small fraction of the user base generates meaningful revenues for the company.