David Kelly of JPM discussed five reasons (income effect, wealth effect, price effect, exchange rate effect, and expectations effect) to argue that the economy ___ particularly sensitive to changes in the Fed funds rate.

In Powell’s press conference (at the end of the FOMC meeting), Powell said that when inflation is high and the labor market is weakening, it’s not surprising that the dispersion among FOMC participants’ forecasts would be ___.

Fed Governor Miran discussed the third Fed mandate (beyond the dual mandate) in his confirmation hearings. The third mandate is ___.

Utility company profitability will ___ if SLMs win out (rather than LLMs).

Recently, US stocks that have had the ___ share of foreign sales exposure have been outperforming US stocks that have had the ___ share of foreign sales exposure.

According to Fed Gov. Waller, compared with 10 years ago, the response rate (i.e., the percentage of firms that respond) from establishments (businesses) to the BLS employment survey is ___ in the first month but ___ by the end of three months.

Second quarter (2025) earnings for the S&P 500 were ___ than Q2 (2024) earnings for the S&P 500.

In normal times (when the economy is not in recession), we would expect ___ unemployment to be higher than ___ unemployment.

The labor force participation rate for high school graduates (no college) is ___ than the participation rate for college graduates.

Pessimism about economic strength leads to ___ spreads for junk bonds.