Preston Mui
@PrestonMui
Economist @employamerica / @KNiewiadoma stan
Good morning. New from me at @employamerica, a follow up to my series on the 1990s productivity growth and lessons for today. Taking stock of everything that's happened in the past 90 days through the lens of full employment, investment, and supply-side stability.
Since the release of ChatGPT, recent grad employment in AI-intensive sectors has kept pace w/ non-intensive sectors on net. If anything, recent grad employment has been a bit better of late (relative to the most recent pre-gen AI trend) in sectors where AI usage is greater.
Other explanations could better explain why recent grads are facing worse outcomes now, including those that @PrestonMui, @IrvingSwisher, & the smart folks at @employamerica have already written about! Factors like the slower overall hiring rate and the 2022 “tech-cession."
🚨🚨 New Paper Alert! 🚨🚨 Together with an awesome crew, I've got a fun new paper analyzing whether hospital acquisitions of physician practices raise prices by lessening competition. @stuartcraig Aristotelis Epanomeritakis, Joe Martinez, Matt Grennan, @ProfFionasm, and…
Many people on the Street are unjustifiably attacking Governor Waller. He is debasing himself to succeed Powell in service of Trump, or so the thinking goes. Ah yes, he is bending over backward by pointing out that the US economy is not in fact as good as the White House claims.
Waller removes any doubt: He'll vote for a July cut. The opening line of the speech gets to the point: My purpose this evening is to explain why I believe that the FOMC should reduce our policy rate by 25 basis points at our next meeting. federalreserve.gov/newsevents/spe…
New from my colleague @ash_georgexx at @employamerica OBBBA slashes programs like Medicaid and SNAP. It's not just harmful to Americans that rely on those programs. It's also bad macroeconomic policy.
Second: No new brand is complete without merch! Some vintage logo merch will continue to be available for a limited time, but we’re also premiering our brand new logo on a variety of designs: employ-america-shop.fourthwall.com
First: We have a beautiful new website, reflecting a suite of new branding! We of course love our vintage logo - we’ll continue to find ways to use it. Our goal has been to strengthen our visual brand while maintaining continuity in color and details employamerica.org
There’s a lot of exciting news from Employ America today - we’re unveiling new branding, new mission-focused language, and a new vision for how to achieve durable full employment through robust macroeconomic policy. But that's not all...
Employ America was launched in 2019 to confront the policy failures in the wake of the Global Financial Crisis. Policymakers learned from their mistakes and avoided another jobless recovery after COVID, but shortages and inflation have revealed the limits of the old playbook 1/8