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Macro Market Notes

Jan J. J. Groen

A collection of notes on topics relevant for macro policy discussions and market views, leveraging the policy/market experience, economic intuition and econometric skills of an accomplished macroeconomist. Views are those of the author only.

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Substack
PricingOnly free issuesPublishesWeekly
Issues105SubscribersRead janjjgroen.substack.com

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Latest Issues

Recent posts by this newsletter. Browse the email archive.

Q2 2025 Productivity & Wages: Headwind

The recent release of the BLS's preliminary "Productivity and Costs" report for Q2 showed labor productivity stuck below trend for the second consecutive quarter. The opposite was the case for the labor share. Medium-term trends in these se...

4 months ago
1
0

July CPI & Retail Sales

This post reviews trends from the most notable data releases this week: the July CPI and retail sales reports.

4 months ago
1
1

July Payrolls: A Disappointing Month

The July Employment Situation report showed a softer-than-expected pace of payrolls growth, with large downward revisions to the previous months, and a slightly higher unemployment rate as the job-finding rate increased. Hourly wage growth ...

4 months ago
2
0

July FOMC Postmortem & June PCE

The June Personal Income and Outlays report provides a good insight into the U.S. consumer as well as inflationary pressures going forward. This note presents some of these insights and also provides a brief postmortem of the July FOMC meet...

4 months ago
1
0

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Authors

The writers behind this newsletter.

  • Jan J. J. Groen

    I am an accomplished macroeconomist with a broad experience gained in senior roles at reputed policy and markets institutions. Formerly NY Fed and Bank of England. Interests: #inflation #centralbanks #markets #economy #forecasting. Views are my own.

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