Dollars and Jens
Monday, June 28, 2010
The Dallas Fed's trimmed-mean PCE inflation:

NIPA is out today — that's where Dallas gets its raw data — and shows nominal labor compensation rising at more or less a steady 5% annual rate for the last few months, so you can convince yourself that the economy is improving if you want, though there are other data that can give you an excuse for pessimism. That's why people love economists.

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