Real GDP grew 2.6% in Q4 last year, slightly below expectations for 3% and slower than the past two quarters which averaged 4.8%. But while that slower pace–at least in today’s advanced report; we’ll see two updates based on more complete data in coming weeks–may cause some angst to some, OTEers know better. The annualized… Read more
You’re hanging out at a party with your spouse. He’s a charming guy, life of the party, but he’s been known to get embarrassingly drunk and start breaking things. You watch him closely, observing that he’s drinking heavily as usual and you’re getting ready to shove in the car before things get ugly. But weirdly, they don’t…. Read more
Over at US News. We can have a good, substantive argument about whether and how much credit President Obama should get. But Grover Norquist…nuh uh.
Well, this is turning out to be a pretty impressive week for the introduction of progressive ideas in high places. And while it’s easy to dismissively say, “um…they’re not going anywhere in this Congress,” I’d argue that reaction is too short-sighted. Before we get to the latest salvo, let me set the stage with something… Read more
Orange may be the new black, but in my world raising the federal funds rate is the new deficit reduction. Let me explain. I keep bumping into arguments about why, despite pressures from wages or prices, either in real life or in expectations, the Fed should pre-emptively raise the interest rate it controls in order… Read more