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Do Central Bankers Know Best? Montagu Norman and the BIS

BEA/FRED Visuals — Q2 2025

BEA / FRED Visuals — Q2 2025

Four charts: current account (last 12 quarters), goods exports vs imports (Q1 & Q2 2025), NIIP, and Personal Income vs PCE (Jan 2024–Aug 2025).

Quarterly U.S. current-account balance (last 12 quarters)
Quarterly U.S. Current-Account Balance
Last 12 quarters — shows the sharp drop/rebound around Q1–Q2 2025
Goods exports vs goods imports Q1 and Q2 2025
Goods: Exports vs Imports
Q1 & Q2 2025 — highlights $184.5B fall in imports and $11.3B rise in exports
Net International Investment Position (NIIP) quarterly levels
Net International Investment Position
Selected quarters — trend to −$26.14T (Q2 2025)
Personal Income vs PCE Jan 2024 to Aug 2025
Personal Income vs PCE
Jan 2024 – Aug 2025 — shows PCE outpacing income in August 2025
Note: images were generated from BEA and FRED reported series (Q2 2025 releases). If you want the standalone HTML exported as a single downloadable file or a PowerPoint with each image on its own slide, click the ZIP button.

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