MA’s Ben Herzon Quoted in WSJ

MA’s Ben Herzon was quoted in the article “Piecing Together the GDP Puzzle” by Jo Craven McGinty for The Wall Street Journal (excerpts shown below). The U.S. Bureau of Economic Analysis will report a whole bunch of numbers this coming week, but one figure will command the most attention: GDP. Because the numbers are so influential, real-time GDP trackers, working at firms such as Macroeconomic Advisers, J.P. Morgan and Morgan Stanley, put out forecasts in advance of the government’s official reports throughout the year. On July 30, when the BEA releases its first estimate of this year’s second-quarter GDP growth, the public will learn the official number, and analysts will get to see how close their forecasts came to predicting it. “What we do is try to replicate at a smaller scale what the BEA does,” said Ben Herzon, a senior economist at Macroeconomics Advisers. “I can’t reproduce exactly what … Continue Reading

Dominguez: More International Perspective, Domestic Views Similar to Yellen’s

This is from an MPI Musings note to clients first published on July 23, 2015. If confirmed by the Senate, Kathryn Dominguez would bring strong credentials to the Board and FOMC. Her expertise in international macro and (especially) exchange rates means she would immediately contribute to the FOMC’s assessment of the global factors that have been buffeting the U.S. economy and monetary policy outlook. We see her views on post-crisis headwinds and labor market issues as being well aligned with Chair Yellen’s. Senator Shelby has said that the Senate is in “no rush” to confirm Dominguez, or, for that matter, Allan Landon, who has been awaiting confirmation since January. This means neither of them is likely to be at the FOMC meeting in September, when we expect the first hike. The addition of Landon and Dominguez would bring the FOMC back to its full strength. Dominguez is an expert in exchange rates, international … Continue Reading