Macroeconomics, global markets, and economic research by Anna Wong
Unit labor costs declined while hikes questioned, Anna Wong argues
Unit labor costs dropped by 0.7% in the third quarter after a 1.9% increase in the second quarter. Anna Wong said this data does not warrant continued interest rate hikes. She also referred to ...
Anna Wong: U.S. Treasury yields could reveal key drivers during expected blue sweep
Anna Wong suggested that the outcome of the U.S. midterm elections, especially an expected blue sweep, could provide important insights into what is driving long-end U.S. Treasuries. She ...
Health care cost-driven core pce impacts wage growth, Anna Wong notes
Anna Wong said the Employment Cost Index (ECI) reading underscores the importance of the gap between core PCE and core CPI inflation measures. Wong explained that inflation reflected in core PCE, ...
Anna Wong: AI-driven inflation in core PCE is slowing
Anna Wong stated that inflation driven by artificial intelligence within core personal consumption expenditures (PCE) is finally ...
Supply bottlenecks remain a concern, Anna Wong notes
Over 900 supply bottlenecks were identified from the previous earning season, with many of these issues persisting into the current earning season. Anna Wong said that tightening financing ...
Anna Wong: Credit spreads rise in line with Kim and Wright model estimates
Credit spreads have increased in a manner consistent with predictions from Kim and Wright's model estimates, Anna Wong reported. According to Wong, about half of the recent 10-year U.S. Treasury ...
Wealthy spenders focus on club memberships and museums, Anna Wong notes
Household consumption patterns are displaying a K-shaped trend, with wealthier individuals channeling spending toward club memberships and museums. Anna Wong commented that this divergence reveals ...
Anna Wong: Questions whether AI contribution to PCE inflation has peaked
Anna Wong questioned whether the contribution of artificial intelligence to PCE inflation has already peaked. Her comment was made in reference to her latest work with another contributor, as ...
Bloomberg Price Project set to launch soon, Anna Wong notes
The Bloomberg Price Project will launch at the end of the month. Anna Wong said the project is already highlighting a rise in video streaming service prices for tomorrow’s U.S. CPI report, ...
Anna Wong: U.S. fiscal sustainability may depend on reducing obesity
Anna Wong highlights the importance of fiscal sustainability for the U.S., pointing out that neither political party is moving toward fiscal austerity, except for the use of tariffs. She ...
Labor market reached bottom in September 2025, Anna Wong notes
Anna Wong says that September 2025 is identified as the bottom of the labor market and that this period was previously viewed as the onset of early business cycle dynamics. She expresses ...
Anna Wong: Labor share decline makes inflation harder to accelerate
Anna Wong argues that the K-shape economy, which reflects diverging trends in the labor market, wealth, and consumption, is helping to keep inflation expectations anchored. She observes that the ...
NSA print appears weaker than forecast despite robust SA result, Anna Wong notes
Anna Wong highlights that the NSA data for August was actually weaker than anticipated, even though the seasonally adjusted (SA) figure appeared unusually strong. She suggests that last month's ...
Anna Wong: Core PCE inflation remains near 2 percent in recent months
Anna Wong highlights that core PCE inflation has remained on track at around 2 percent over the past few months. She also notes that Warsh’s PCE inflation diffusion metric declined in August, ...
Aramco addresses risk premium with internal tankers, Anna Wong notes
Anna Wong points out that Aramco benefits from access to its own sizable tanker fleet. She highlights that this capability allows the company to manage war insurance coverage and risk premiums ...
Anna Wong: Tariff refunds and shortages define latest earnings season
Anna Wong outlines key themes from the latest earnings season, focusing on the impact of tariff refunds and supply shortages. According to Wong, tariff refunds have provided a boost to company ...
One-off inflation fall influenced policy decision, Anna Wong argues
Anna Wong highlights how, in October 2017, then Fed chair Janet Yellen commented on a temporary fall in inflation due to wireless phone services. Wong questions the wisdom of allowing this ...
Anna Wong: Bloomberg Price Project finds mixed inflation signals in economy
Anna Wong highlights that the Bloomberg Price Project is observing both disinflationary and inflationary impulses within the economy. The update points to a complex picture for price movements as ...
Investment surge and 3 percent productivity growth likely, Anna Wong estimates
Anna Wong suggests that the current investment boom may be twice as large as reflected in official national accounts. Wong also indicates that, following potential revisions similar to those in ...
Anna Wong: Europe now faces global imbalances similar to U.S. experience in 2000s
Anna Wong highlights a shift in Europe’s economic landscape, observing that the region is now encountering global imbalances similar to those experienced by the U.S. in the 2000s. She points to ...
Negative payroll possibility questions Fed hikes, Anna Wong notes
Anna Wong raises the possibility that the upcoming U.S. payrolls data could disappoint, with a notable chance that the figure could be negative. She points out that, in the modern era, there is ...
