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Representative David Schweikert - Vice Chairman

News Releases

November 2023 Employment Situation Staff Commentary

Nonfarm payroll employment increased by 199K jobs. Private sector payroll employment increased by 150K jobs. Government payroll employment increased by 49K jobs. The previous two month’s estimates were revised downward by 35K jobs (net; 35K decrease in September, no aggregate change in October). ...

Treasury Auction Results

Treasury auction results provide insights into investor sentiment, prevailing market interest rates, and the government’s fiscal standing. Updated weekly.

PCE Inflation October 2023

KEY TAKEAWAYS At 8:30am, BEA announced that in October: • Personal income increased by 0.2 percent m/m ($57.1B). o Real DPI (disposable personal income) per capita increased by 0.2 percent m/m. This means that income rose faster than prices. • Real PCE (personal consumption expenditures) rose...

October 2023 CPI Report

Economic Intel Special Edition November 2023

Yesterday, the Atlanta Fed revised up its nowcast of Q4 real GDP growth to 2.1%. The nowcast was revised up by 0. 9 percentage points after increases to personal consumption growth and gross private domestic investment. The New York Fed nowcast is slightly higher at 2.4%. (Growth rates are q/q at an...

PCE Inflation September 2023

At 8:30am, BEA announced that in Sep: Real DPI (disposable personal income) fell by 8bps m/m. While incomes rose, prices rose faster. Nevertheless, real PCE (personal consumption expenditures) rose by a strong 38bps m/m. A large component of higher consumption spending has b...

Q3 2023 GDP Release

BEA announced that in Q3: • The economy expanded at a rapid pace. Real GDP growth printed at 4.9% vs. 2.1% in Q2. o The print beat the expectations of professional forecasters. The Blue Chip consensus was 3.5%. o However, the print fell slightly short of the 5.4% nowcast from the Atlanta Fed’s GD...

September 2023 CPI Report

New Report: Does Government Crowd Out Social Capital?

WASHINGTON—Ranking Member Mike Lee (R-UT) released a Joint Economic Committee report this week examining whether the growth of American government has contributed to declining social capital in the United States.

Lee Report Highlights Policies for Unleashing American Entrepreneurship

WASHINGTON—Today, Ranking Member Mike Lee (R-UT) released a Joint Economic Committee report highlighting policies for unleashing American entrepreneurship.