Cheer up your clients with views of Dallas Fed authors

Has the economy got your clients feeling blue? 

Cheer them up with some statistics from “How Are We Doing,” an article by W. Michael Cox and Richard Alm of the Federal Reserve Bank of Dallas.

For example, over the past 20 years, “in terms of time worked at the average pay rate, the real cost of a 12-item basket of basic foods has hardly budged.” You can see that for yourself in Figure 3, “What Work Buys.”

I learned about this article from “Cheer up — these are the good old days,” a Boston Globe column by Jeff Jacoby.