The world is divided into two types of men. Those who wear short pants even though it is cold. Those who wear proper pants even though it is hot. I am in the latter camp but try not to judge.

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Chart of the year:

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The great thing about having a running app on your phone is it delivers sophisticated analytics about your exercise like "You went a little faster when running downhill" and "You went a little slower when running uphill" and "You slowed way down when you hit a stoplight."

Inbox: Stephen Miran speaking to Economic Club of NY on Monday about the economic outlook. He's not wasting any time going public with the thinking behind his dissent and way-below-consensus view on how far rates should be cut.

As a borderline young GenXer/old Millennial, I have a unique position from which to see clearly the foibles of both generations. Good to share a microgeneration with @conorsen and @scottlincicome.

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https://t.co/FVjp4Ez9lj

I guess Parker Posey is doing Hyundai commercials now and I feel like this is the logical end of a Gen X narrative that started ~35 years ago with Reality Bites and a Time magazine cover?

It's odd, the ISM-manufacturing numbers were decent for August (nice tick up in headline index, new orders surged to positive territory for first time in six months). But the anecdotal color is brutal:

Waller throwing some heaters here.

My takeaway from this year's Jackson Hole symposium: There was a mix of melancholy and gallows humor over the threats to central bank independence, data collection, and technocratic excellence. The wonks are in the wilderness. https://t.co/CVBhk2OVq3

Update: Medium black coffee at the Jackson Lake Lodge (with tax but not tip) hit $6.42 this year, a 5.2% year-on-year rise. On the surface, a re-acceleration of inflation.' BUT! This year the barista said that there are free refills, which amounts to a hedonic improvement. So

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Waller nails it again.

For a sense of where things stand, I now receive e-mails with subject lines such as this: "How to play steady deterioration in Fed's institutional integrity? Macquarie strategist weighs in"

"That's me. I'm 72 years old, have about $50 million, a couple of grandkids, and the respect of my peers. I'm wearing a suit and tie and helmet on a 95° day with a guy who uses the most powerful perch on the planet to insult me all day. Life is a series of choices, huh?"

Every Fed reporter:

Fun fact: 20+ years ago, before I was a Fed reporter, I covered DC economic development and real estate for the Washington Post. I never envisioned knowledge acquired about the National Capital Planning Commission then would prove useful in my econ reporter life.

Powell has asked the new Fed inspector general to review its building project's costs and other matters the IG deems appropriate, I've learned, as Trump tries to weaponize the National Capital Planning Commission against the Fed chair. https://t.co/7mnAv8h2w0

Also this year the White House Correspondents Dinner overlapped with both. What happens when global finance ministers and central bankers, NFL executives/players/media personalities, and random minor celebrities all take over the same not-huge city? Let's find out!

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