In the interest of good aesthetics, I’ve made a point of keeping the economics work separate from the musical suggestions. But this week I violate that, combining a strange and dissonant article about how DC’s financial market regulation has just completely dominated those formerly high rollers up on Wall St., with the great R&B artist… Read more
Let’s start by stipulating the following: a) the Fed was going to begin tapering at some point soon, b) whatever it is that QE is doing, a little less of it would make an imperceptible difference (and, ftr, the evidence shows it’s helping a little with longer-term rates, as Bernanke asserted yesterday, though more from… Read more
A fair bit of interesting press today on the Volcker rule, most landing pretty squarely where I did yesterday: it’s pretty tough, and better-than-expected given the staunch opposition, in terms of distinguishing legit customer-oriented trades versus proprietary ones, and it has some potentially useful language that should dampen traders’ incentives to take excessive risks to… Read more
In much recent economic discourse, it has been suggested that we suffer from structural stagnation. That is, some underlying misalignment in resource allocation or distribution is preventing the macro economy from achieving its potential in terms of job growth, GDP growth, labor force participation, productivity, and full employment—not just in recessions, but in recoveries as… Read more
One wants to read little into a monthly jobs report and even less–much less–into a day in the equity markets. But I found it interesting that the stock market reacted uncharacteristically positively to today’s solid jobs report. Over at the NYT Economix blog.