UHERO

Byron Gangnes

America’s housing affordability challenge: How big and how broad?

America’s housing affordability challenge: How big and how broad?

July 2, 2026

We’ve heard lots about the unaffordability of housing. How widespread is it and how extreme? To assess this, we need to do more than some…

UHERO Forecast for the State of Hawaiʻi: War brings more stormy weather to Hawaii

UHERO Forecast for the State of Hawaiʻi: War brings more stormy weather to Hawaii

May 15, 2026

Hawaii’s economy must weather a new storm. The Iran war has sent oil prices surging, promising to raise inflation, increase travel costs, and slow the…

Recession watch: US data is softening—Is a downturn imminent?

Recession watch: US data is softening—Is a downturn imminent?

September 6, 2025

By Byron Gangnes A little less than a year ago, I published a post explaining why the US economy was clearly NOT in a recession,…

Immigration Economics

Immigration Economics

January 31, 2025

By Byron Gangnes Immigrants have always been an important part of America’s population. But for just as long there have been concerns about the impact…

How I know we’re Not in a Recession. (And when we’ll know if we are.)

How I know we’re Not in a Recession. (And when we’ll know if we are.)

September 26, 2024

By Byron Gangnes Try to tell people that we are not in a recession, and you will get a lot of pushback. After all, jobs…

Japan Update: Struggling to escape inflation’s drag

Japan Update: Struggling to escape inflation’s drag

May 21, 2024

By Byron Gangnes Like all countries, Japan was hit hard by COVID-19, and the economy has struggled to get back on track since. Some headwinds…

UHERO’s Byron Gangnes to be featured at HEA webinar

UHERO’s Byron Gangnes to be featured at HEA webinar

March 20, 2024

On Thursday, March 28, UHERO’s Byron Gangnes will join First Hawaiian Bank’s Steve Rodgers in a webinar hosted by the Hawaii Economic Association to discuss…

The supply side: AI, immigration, and non-inflationary growth

The supply side: AI, immigration, and non-inflationary growth

February 21, 2024

By Byron Gangnes Home from last week’s National Association for Business Economics Policy Conference in Washington DC. Not surprisingly, many of the sessions ended up…

Could the markets be right about coming Fed rate cuts?

Could the markets be right about coming Fed rate cuts?

January 19, 2024

By Byron Gangnes There is a marked difference between what Fed officials expect about their likely rate cuts this year and what the financial markets…