“The email sent by Penn SAS Deans last Tuesday needs to be interpreted with some care. In particular, notice the words “school-funded Ph.D. programs.” There is a lot of institutional background that is lost when the email is read from the outside, especially because the Economics Ph.D. program has its own funding structure that differs from other Ph.D. programs at Penn SAS.
At this moment, the Department of Economics is working out the details of the next year incoming class, but a first-year incoming class and regular classes first-year are planned. Also notice that much of graduate teaching in economics involves Ph.D. students from Wharton, who are not part of SAS. Wharton is going ahead with its Ph.D. admissions.”
That is from an email from a well-informed inside source. Here is the original MR post, blame it on the Dean.