Justin Wolfers
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Justin Wolfers
@justinwolfers.bsky.social
110K followers 370 following 2K posts

Econ professor at Michigan ● Senior fellow, Brookings ● Intro econ textbook author ● Think Like An Economist podcast ● An economist willing to admit that the glass really is half full.

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Justin James Michael Wolfers is an Australian economist and public policy scholar. He is professor of economics and public policy at the Gerald R. Ford School of Public Policy at the University of Michigan, and a Senior Fellow at the Peterson Institute for International Economics. .. more

Economics 62%
Psychology 14%
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Reposted by Timothy D. McBride

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 2h
Powell looks deeply worried. And so I conclude that "either something's going wrong with the economy or something's going wrong with his Botox."

Reposted by Christian E. Weller, Timothy D. McBride

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 3h
Quits are like a confidence poll of workers. When lots of people quit, it’s because they believe they can find something better. Right now “quits are very low,” which tells you people feel it’s tough out there—and that makes it harder to bargain for raises.

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 17h
In economics, “transitory” can mean a few years. In Washington, “transitory” is anything that lasts longer than a news cycle. And it's worth bearing that distinction in mind as we approach the next round of "transitory" (tariff-driven) inflation.

Reposted by Richard S.J. Tol

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 18h
Word for the day: Fiscal dominance.

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 18h
My favorite part is that the President has said a threshold for being appointed Fed Chair is a willingness to cut rates, and now suddenly everyone he talks to says the Fed should cut rates. He interprets this as confirming the wisdom of his policy judgments.

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 18h
As per usual when Trump speaks on the economy, there's no shortage of crazy pants quotes.

Reposted by Timothy D. McBride

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 18h
Trump told the WSJ that he is leaning toward Warsh as the next Fed chair. Prediction markets have responded but don't fully believe it. Call it a tossup. www.wsj.com/economy/cent...

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 22h
When people say the Fed is “goosing the economy” after this week's cut, that’s backwards. After years of slamming the brakes to fight inflation, they’re now just lifting their foot. Less restrictive is not the same as pedal-to-the-metal stimulus.

Reposted by David R. Miller

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Justin Wolfers @justinwolfers.bsky.social · 1d
Q: "What do you make of the president labeling affordability as a Democratic hoax? Is that claim backed up by data?"

Me: "No, it's a lie. It's patronizing and it's disgusting. This isn't how we should have economic discussions."

Reposted by Ann Bartow

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 1d
Notice the pattern: help a narrow group loudly, hurt everyone else quietly. Tariffs help a few steel workers but raise prices for every firm using steel. Tax cuts favor the rich while squeezing social programs. Politically noisy wins, economically costly losses.

Reposted by Kim L. Scheppele, Colin F. Camerer

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Justin Wolfers @justinwolfers.bsky.social · 1d
This is huge, right? They just Trump-proofed the Fed.

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Justin Wolfers @justinwolfers.bsky.social · 1d
A quarter-point Fed cut sounds big, but for most people it's modest. On a car loan or mortgage, your monthly payment nudges down, not collapses. Markets care more because it hints at the Fed's path—today’s move says “gentle easing,” not “emergency rescue.”

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 1d
"When the president says prices are falling, he's lying. When he says he's going to get prices down, he really shouldn't, because the only way to get prices down is to crush the economy." That’s the trade-off he’s not mentioning.

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 1d
When you hear “the Fed cut rates,” don’t just focus on the change. The key question is: where are rates now? A small cut that takes us from “braking” to “neutral” is very different from a big cut that slams a foot on the gas. This one was about getting to neutral.

Reposted by Justin Wolfers

federalreserve.gov
Federal Reserve @federalreserve.gov · 1d
@federalreserve.gov announces reappointment of Federal Reserve Bank presidents and first vice presidents after a comprehensive review by the boards of directors of each Reserve Bank, along with unanimous support by Federal Reserve Board members: www.federalreserve.gov/newsevents/p...
Federal Reserve Board announces reappointment of Reserve Bank presidents and first vice presidents
Following a comprehensive review by the boards of directors of the regional Reserve Banks, and the unanimous concurrence of Federal Reserve Board members, the
www.federalreserve.gov

Reposted by Justin Wolfers

justinwolfers.bsky.social
Justin Wolfers @justinwolfers.bsky.social · 1d
"All that [tariff] money's gone into a big pot. And what Trump has done is he's taken a bunch of mates and he said to them, I like you. You're a farmer. I like the cut of your jib. You get bailed out, but the rest of us don't."