

Keeping it Simple | Ep. 43: All the Wong Answers
4 snips Dec 17, 2024
Anna Wong, Chief U.S. economist for Bloomberg and former Federal Reserve analyst, shares her expert insights on the current economic landscape. She discusses the evolving impact of the pandemic on economic forecasting and highlights the pitfalls of traditional data models. Wong explores rental inflation trends and delayed household formation among millennials, revealing surprising metrics. Additionally, she delves into the consequences of tariffs on inflation and the complexities of the gig economy, providing a comprehensive view of the modern labor market.
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Micro-Based Macro
- Anna Wong prefers quantitative methods grounded in micro-level data.
- This bottom-up approach helps validate macro-level narratives and correct for errors in aggregated data.
BLS Revisions and Overstatements
- BLS data revisions, particularly from the birth-death model, create lags and overstatements in employment figures.
- This issue is amplified by pandemic-era programs like PPP, with effects expected to linger into 2026.
Trump Administration's Fiscal Approach
- Markets oversimplify the potential fiscal impact of a Trump administration.
- The appointment of figures like Scott Bissendt signals a focus on fiscal responsibility.