Rogers has written a much needed, up-to-date explanation of economic indicators. He covers the standard economic indicators that you find in other books–everything from the employment situation report, to GDP, to retail sales, to consumer prices, to international trade, and more. But he has included the indicators that now get heightened attention since the financial crisis and the recession. You will find incredible coverage of all the important leading indicators for housing plus indicators for house price indexes and more.
You’ll learn where commodities such as oil and gold fit in. As good as his explanations of traditional and newly important indicators, his book may be best for explaining how to track the Fed and monetary policy. He gives you a lot of information that few other than a former Fed economist would know to point out. Not only do you learn about Fed votes on the fed funds rate but also how the discount rate is set and where the Fed District Bank presidents fit in. And “quantitative easing” is explained–you won’t find that in older books.
Also, what you won’t find in similar books is his section on how financial markets view Fed policy. Who would have thought that tracking fed funds futures would actually be easy? Finally, this book is “must” for both experienced economy watchers and newbies.
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“The Complete Idiot’s Guide to Economic Indicators”