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‘Vibecession’: Reconciling Positive Statistics with Negative Sentiment
Newly released data for the third quarter of 2024 (July-September) shows the economy has continued to grow, albeit slowly. Consumer spending was the brightest light in the third quarter data: growing at an annualized rate of 3.5% (in real, inflation-adjusted terms), and constituting the largest single source of new demand.
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High-Tech Price-Fixing
One worrisome feature of recent bursts of inflation has been the role of automated price-fixing technologies in pushing up prices across entire industries. Companies use special programs to search out the prices being charged by competitors, and detect changes in demand. These algorithms can then adjust prices quickly, at the level judged to be the highest the market will bear.