Looks like some correlation between inflation & %yoy number of employed. More workers, more new demand. (link to data)

Effective Demand = $18.332 trillion

Real GDP = $18.514 trillion

Productive Capacity = $24.711 trillion

UT index is at effective demand limit = -0.72%

Effective demand limit = 74.2%

TFUR = 74.9%

ED Fed rate rule = 4.3%

Estimated Natural Real Interest rate = 2.4%

Short-term real interest rate = 2.7%

There is no recession for 2ndQ-2018. Chance of recession is growing as economy heads toward 2nd effective demand limit in this business cycle. I am forecasting that economic conditions will begin to contract in the second half of 2018.

Click on Graphs below to see updated data at FRED.

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Edward Lambert: Independent Researcher on Effective Demand.

Fed Views - San Francisco Fed, around 10th of each month.

Well's Fargo monthly - around 10th of each month

Well's Fargo weekly

Well's Fargo Interest rate report

Well's Fargo Economic indicators

T. Rowe Price weekly market wrap-up

- Capital Income Consumption is Finally Falling
- Inflation & changes in the # of employed
- Currently at Inflection Point of Unemployment
- Approaching Effective Demand Limit Again
- Capital is Optimizing again
- Projecting the Effective Demand Limit
- Effective Demand Model did very well
- Watching the Craziness
- Inflation as a Mouse not being Chased
- Projecting a Fed Rate Path