Last Year's Ghost is the debut album by Loose Assembly, a quintet led by American jazz drummer Mike Reed featuring alto saxophonist Greg Ward, vibraphonist Jason Adasiewicz, cellist Tomeka Reid and bassist Josh Abrams.

[2] In his review for AllMusic, Michael G. Nastos says "It's a very interesting and accessible disc worth owning and listening closely to.

"[3] The Penguin Guide to Jazz notes that the album "has a highly distinctive sound, with the leader's accurate time-sense a key component on 'Day of the Head' and the later 'Ghost Writer', in double-waltz time.

"[8] In a review for JazzTimes, Forrest Dylan Bryant states "A unique quintet lineup with alto sax, vibes, cello and bass wraps a dark, velvety texture around vaguely nostalgic ballads, and adds density to surging, uptempo grooves.

"[9] The Point of Departure review by Bill Shoemaker describes the album as "a well-designed collection of hook-filled tunes and atmospheric interludes" and concludes "Just a few more recordings like Last Year’s Ghost and Mike Reed will be in the first rank of living American bandleaders.