Профиль

text here www.kansascityfed.org/speeches/agr...

A reminder that the best way to tell a complicated story is chronologically

Anna Wong @AnnaEconomist A guide to Warsh's rhetorical techniques. (since we'll living with it for the next 5 years) x.com/AnnaEconomis...

Anna Wong (@AnnaEconomist) on XA guide to Warsh's rhetorical techniques. (since we'll living with it for the next 5 years) Here's 8: : 1. Replace the question with a broader one (otherwise known as "bridging), i.e. when someone ...x.com

“The markets initially interpreted the price stability tough talk as someone who was willing to take the necessary action to address inflation and then was surprised that there wasn’t follow through,” said Lael Brainard, who served as vice chair at the Fed until 2023. www.nytimes.com/2026/07/30/b...

Warsh’s Performance Falls Flat With Markets as Fed Holds Rates Steady (Gift Article)Kevin M. Warsh has made taming inflation the top priority of his tenure as Federal Reserve chairman. But his hesitancy to embrace the possibility of higher borrowing costs has sparked a backlash.www.nytimes.com

Ex Cleveland Fed President Loretta Mester on Warsh: “I actually want more from my Fed. I want to feel comfortable that the Fed knows what it is doing. I don’t think it’s sustainable, what he’s doing, in terms of not saying anything.”

Headline o the morning. www.wsj.com/economy/cent...

Evercore's Krishna Guha: We (and many clients) came away confused as to whether Warsh is saying the bond market is telling us rates need to be higher over time or the bond market is doing some tightening for the Fed.

WSJ's Greg Ip: Fed chairman’s analogy of calling balls and strikes doesn’t work. The central bank isn’t the umpire, it is the most important player in the game. www.wsj.com/economy/cent...

The Problem With Warsh’s Deference to MarketsThe Fed chairman’s analogy of calling balls and strikes doesn’t work. The central bank isn’t the umpire, it is the most important player in the game.www.wsj.com

Correction 2018-2024 data

Over 90% of Census tracts in Puerto Rico were initially designated as OZs. Only 7% of OZ tracts received any OZ investment

Most per capita OZ investment DC $2,320 Utah $1,764 Tenn $832 Arizona $827 Nevada $672 Colo $582 Mont $418 Wyo $394

Utah is among most popular destinations for OZ investment. Utah (nearly $115 million per OZ) is the only state which received more than $100 million per OZ, with the next highest being DC with $62 million per OZ. Full list in table 11 home.treasury.gov/system/files...

States with the largest share of OZs receiving some investment include Arkansas, DC, Hawaii, Mississippi & Colorado. States with the lowest share of OZs receiving investment include Illinois, Alabama, Iowa, Wisconsin & North Dakota.

Typical taxpayer claiming OZ benefits had 2024 AGI of $738,000 vs AGI of $54,000 for a typical filer from all electronic Form 1040 filers. 41,000 taxpayers have deferred $75 billion in capital gains by using OZ tax break.

77% of OZs received *some* qualified investment, but 2,700 (34%) drew less than $1 million in investment. Rural tracts comprise ~ 38% of OZs, but account for just over 16% of OZ property in 2024. OBBBA creates new incentives for rural OZs.

Bottom line: “OZs that experienced higher growth in income and housing values and faster declines in the poverty rate and unemployment rate in the years leading up to OZ designation were more likely to receive qualifying investment.”

It's a good question. The @financialtimes.com piece doesn't give details. giftarticle.ft.com/giftarticle/...

Chart of the Week: Who owns shares?Household exposure to stocks varies dramatically across countriesgiftarticle.ft.com

No. This is an aggregate. It doesn't describe the distribution. Some folks at the top hold a huge amount and some folks in the middle hold a little bit.

Panelists: Neil Kleiman (The Governance Lab), Ryan Minnick (Federation of Tax Administrators), Andrew Ngui (City of Kansas City, MO), and Amanda Renteria (Code for America.) Ably moderated by Lauren Larson